|May 17, 2010|
Minaurum Gold Closes First Tranche of Non Brokered Private Placement
|Minaurum Gold Inc. (the "Company") announces that further to its news release dated April 13, 2010, it has completed a first tranche closing on $3,722,997 of its $5,000,000 non-brokered private placement. The Company has issued 6,204,995 common shares (the "Shares") at a price of $0.60 per share. A finder's fee of $44,114 as well as 92,167 common shares was paid in connection with the first tranche closing of the private placement.The Shares are subject to a hold period expiring September 15, 2010. The Company intends to complete the balance of its private placement.|
The funds raised by way of the private placement will be used for working capital purposes, exploration on its mineral properties in Mexico and further acquisitions.
Minaurum Gold is a gold and silver explorer focusing on the acquisition and development of district-scale precious metals deposits in Mexico. The Company is currently advancing the Adelita, Capilla, Vuelcos del Destino and Aurena Projects.
On behalf of the Directors of Minaurum Gold (TSXV:MGG) Inc.
"Darrell A. Rader"
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
1500 - 409 Granville St. Telephone 778 330-0994
Vancouver, BC V6C 1T2 firstname.lastname@example.org
Forward Looking Statement: Some of the statements contained in this press release are forward-looking statements. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control, including, but not exclusively, statements regarding potential mineralization, exploration results, completion of work program and studies, and future plans and objectives of the Company. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production.
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