Minaurum Gold Inc. ("Minaurum") is pleased to announce that it has closed the non-brokered financing announced January 28, 2011. The financing was oversubscribed and Minaurum issued 8,179,713 common shares at a price of $0.70 per share for gross proceeds of $5,725,799.10.
A finder's fee of 136,000 shares and $74,480.00 was paid in connection with the closing of the private placement. The securities issued under the offering will be subject to a four month hold period expiring June 19, 2011 in accordance with applicable Canadian securities laws.
The proceeds of the private placement will be used by Minaurum for its exploration programs in-cluding the ongoing drilling program at the Aurena Gold Project as well as for working capital pur-poses.
Minaurum Gold is a gold and silver explorer focusing on gold-dominant metals deposits in Mexico. The Company is currently advancing a portfolio of projects including the Aurena gold-skarn project.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
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.
Vancouver, BC V6C 1T2
Telephone 778 330-0994
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.