News
April 12, 2010
Golden Chalice Resources Inc. Closes Private Placement
Golden Chalice Resources Inc. (TSX-V: GCR) ("The Company") is pleased to announce the closing of a private placement announced January 29, 2010 for 3,100,000 flow through units at $ 0.14 per unit. The total proceeds were $434,000. Each of the flow through units consisted of one flow through common share and one non flow through non transferable share purchase warrant entitling the holder to purchase one additional common share for two years at the price of $0.12 per share. Any shares issued pursuant to the private placement will be subject to a four month hold period. In connection with the transaction, a cash commission totaling $34,720 was paid to Raymond James Ltd.
The proceeds of the private placement will be used for exploration expenditures on the Company's Ontario mineral properties.
The Board of Directors also announces that James McDonald has resigned as a director of the Company effective March 17, 2010.
About Golden Chalice
The Company's continues to focus on its flagship Langmuir Project where 2007 drilling intersected 72 meters of 1.14% nickel. The Langmuir Project is easily accessible by road and is near existing mining infrastructure in the Timmins camp, host to numerous world-class gold and base metal deposits. The Company owns 100% of the property which covers more than 30 km of favorable stratigraphy with potential for hosting Kambalda-style deposits.
The Company is also advancing its Timmins West property, which contains a number of porphyries and similar geology to the Lake Shore Gold ground, approximately 30 km to the northeast, as well as its Abitibi East gold property.
CONTACT INFORMATION
Corporate Inquiries:
Alan Campbell or Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@goldenchaliceresources.com
Website: www.goldenchaliceresources.com
Visit Golden Chalice's web-site: www.goldenchaliceresources.com to see Smartstox interviews with Company President, Richard Hughes.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
The proceeds of the private placement will be used for exploration expenditures on the Company's Ontario mineral properties.
The Board of Directors also announces that James McDonald has resigned as a director of the Company effective March 17, 2010.
About Golden Chalice
The Company's continues to focus on its flagship Langmuir Project where 2007 drilling intersected 72 meters of 1.14% nickel. The Langmuir Project is easily accessible by road and is near existing mining infrastructure in the Timmins camp, host to numerous world-class gold and base metal deposits. The Company owns 100% of the property which covers more than 30 km of favorable stratigraphy with potential for hosting Kambalda-style deposits.
The Company is also advancing its Timmins West property, which contains a number of porphyries and similar geology to the Lake Shore Gold ground, approximately 30 km to the northeast, as well as its Abitibi East gold property.
CONTACT INFORMATION
Corporate Inquiries:
Alan Campbell or Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@goldenchaliceresources.com
Website: www.goldenchaliceresources.com
Visit Golden Chalice's web-site: www.goldenchaliceresources.com to see Smartstox interviews with Company President, Richard Hughes.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.