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Message: Private Placement, Focus on Gold Targets at Los Zorros Property-Chile
| February 20, 2009 |
| SAMEX Mining Corp.: Private Placement, Focus on Gold Targets at Los Zorros Property-Chile |
| ABBOTSFORD, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2009) - SAMEX (TSX VENTURE:SXG)(OTCBB:SMXMF) has arranged a private placement of up to $1,000,000. The private placement consists of units comprised of one common share and one share purchase warrant at a price of $0.10 per unit. The warrant entitles the holder to purchase an additional common share at a price of $0.20 per share if exercised at any time during the five-year term of the warrant. The share/warrant units will be subject to a four-month hold period. The proceeds of the private placement will be used for expenditures on the Company's mineral properties and for general working capital. Directors/Officers of the Company are placees for approximately 10% of the placement. Finders fees may be payable with respect to a portion of the placement. The private placement is subject to regulatory acceptance. SAMEX plans to focus its exploration activity on the Los Zorros property in Chile that hosts high-grade gold, bulk-tonnage gold and gold-silver targets situated along a six-kilometer trend. The Company's exploration has identified multiple "Exploration Areas" within its Los Zorros land holdings that cover more than 80 square kilometers. Jeffrey Dahl, President |
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