$581,100 Non-Brokered Private Placement (November 14, 2011)
Val-d’Or, Québec, Canada – November 14, 2011 –Threegold Resources Inc. (THG: TSX Venture exchange) is pleased to announce that it has completed a private placement for gross proceeds of $581,100.
According to the terms of the placement, the company successfully raised $581,100 by issuing 3,874,000 flow-through common shares at a price of $0.15 per common share. All shares are subject to a four (4) month hold period expiring on March 15, 2012.
In connection with the private placement the company paid a finder’s fee of $15,000.
The proceeds of the private placement will be used for exploration expenses on its current projects.
Threegold Resources is actively pursuing gold discoveries on three projects in prolific mining and exploration camps in Ontario and Québec. The 100% owned Adanac project is immediately adjacent to Gold Bullion's Granada discovery and west of Osisko's 12M ounce deposit on the Abitibi belt. The South Bay Project has yielded a significant surface discovery near Val-d'Or and the Company has recently acquired land in the Shining Tree Camp on the western extension of the Cadillac–Larder Lake Fault Zone. Management is evaluating opportunities to create shareholder value with its recent Rare Earth Element discovery and its Base Metal project in the Gaspé Peninsula.
For further information, please contact:
Mr. Victor Goncalves
Mr. Antoine Fournier, P. Geo.
You can also visit our website: threegold.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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