Welcome To The "Yukon Gold Rush - Reloaded" HUB On AGORACOM

Featured Companies change regularly (see Stock Quote)

Reply New Message

Prev Message Back To Forum Threaded View Next Message

FANTOMAS

Rank: President [?]

Points: 21666 [?]

Votes: 385 Score: 3.7 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Another Kinross Yukon Buy-In

posted on Apr 26, 2011 05:17PM

After Kinross bought into Underworld two years ago, which was subsequently taken out by Kinross for $139M (with a 1.5M oz Gold inventory drilled in just two years!), the "Next Big Area Play" (Eric Coffin) started. We have seen an unprecedented staking rush since and exploration dollars spent in the area will reach new highs in 2011.

Today, we have seen another buy-in by Kinross (9.9% stake).

And here is the "lucky guy":

TARSIS RESOURCES (TCC.V):

http://www.marketwire.com/press-release/tarsis-closes-16-million-kinross-private-placement-tsx-venture-tcc-1506690.htm

April 26, 2011 16:30 ET

Tarsis Closes $1.6 Million Kinross Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2011) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce that it has closed its previously announced non-brokered private placement of 2,710,891 shares at a price of $0.60 for gross proceeds of $1,626,534.60.

Kinross Gold Corporation (TSX:K)(NYSE:KGC) ("Kinross") subscribed for all 2,710,891 shares, representing approximately 9.9% of the Company's issued and outstanding. Tarsis has agreed to grant Kinross the right to maintain its percentage ownership during future financings.

Tarsis now has 27,382,736 common shares issued and outstanding. The shares issued will have a 4 month hold period ending August 20, 2011. No finder's fees were paid in connection with this financing.

The financing proceeds will be used for mineral exploration in the Yukon and Mexico, the review of new projects, and general corporate purposes.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model, with mineral properties in Yukon, Canada and Mexico. The Company acquires projects on attractive terms, adds value and then vends or options out projects to partners for advancement.

On behalf of the Board,

Marc G. Blythe, P.Eng., MBA, President and Chief Executive Officer

This news release was prepared by Company management, which takes full responsibility for content.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.