Kinross Gold Corporation Commits to a $2.5 Million Investment in Chapleau Resources Ltd.
19 June 2008 - 1:33AM
Marketwired
CRANBROOK, BRITISH COLUMBIA is pleased to announce that it has
negotiated a non-brokered private placement of five million units
at 50 cents with Kinross Gold Corporation ("Kinross") for proceeds
of $2,500,000. Each unit consists of one share and one two-year
warrant, exercisable at 70 cents in year one and $1.10 in year
two.
Ian Gendall, President of Chapleau commented, "This strategic
investment by Kinross in Chapleau is positive recognition of the
exploration and management team, and quality exploration
properties."
The proceeds from the private placement will be used to advance
the Coringa and Mato Velho gold projects in Brazil and the
copper-gold exploration program in Peru and for general working
capital requirements.
BY ORDER OF THE BOARD OF DIRECTORS
CHAPLEAU RESOURCES LTD.
Ian Gendall, President
This news release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Chapleau Resources Ltd. Ian Gendall President (250)
489-5156 (250) 489-5185 (FAX) Email: info@chapleauresources.com
Website: www.chapleauresources.com
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