Gold, Silver & Base Metals
Advancing early stage projects located in western Canada.
Message: Increases Non-Brokered Financing
| April 22, 2009 |
| Manson Creek Increases Non-Brokered Financing |
| CALGARY, ALBERTA--(Marketwire - April 22, 2009) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. Manson Creek Resources Ltd. (TSX VENTURE:MCK) (Manson Creek) has increased its previously announced non-brokered private placement and will now offer up to 2,800,000 units ("Common Units") at a price of $0.025 per Common Unit for gross proceeds of up to $70,000. Each Common Unit will consist of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant (a "Warrant") will entitle the holder to purchase one additional common share at a price of $0.10 per share for a period of two years following closing. The Common Units will be offered on a non-brokered basis by way of a private placement to accredited investors and any securities issued will be subject to a hold period of four months plus one day from the date of closing. This financing is subject to TSX Venture Exchange and regulatory approval. Proceeds of the financing are to be used to fund a portion of the proposed exploration on the Meridian Gold property in British Columbia and for general working capital. Meridian Gold Project Overview Manson Creek has consolidated five historic past producing gold - silver mines on the road accessible 675 hectare claim block. In 2008, the Property was the focus of a reconnaissance drill program that followed up on exceptional gold mineralization mapped on surface. Drilling intersected significant gold values within large regional structures that host the past producing mines. During the 2008 program, over 600 meters (m) of strike length bracketing the Eva Mine was successfully tested. To date, Manson Creek has outlined an extensive gold mineralized system over an area of 1,100 m by 860 m that remains open along strike and to depth. Significant gold values in drill core and outcrop, ranging from 2 g/t to 194 g/t gold, occur within this system. Additional mineralized cross cutting structures are also present and remain largely untested. The 2008 drilling program successfully extended known mineralization along strike and to depth of the past producers. Proposed 2009 work will include underground mapping and sampling of historical workings and the integration of this data with the 2008 drilling data set. Regan Chernish, P. Geol., President and Director |
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