Threegold Announces a $500,000 Private Placement (2010-09-16)

VAL-D'OR, QUEBEC, CANADA, Sep. 16, 2010 (Marketwire) -- Threegold Resources Inc. (TSX VENTURE:THG) is pleased to announce that it is currently proceeding with a private placement. According to the terms of the placement, the company plans to raise up to $500,000 by issuing 10,000,000 units at a price of $0.05 per unit. Each unit will be comprised of one (1) common share of the company and one share purchase warrant entitling the holder to purchase one additional common share of the company at a price of $0.10 for a period of one year following the closing. The closing of the placement is expected to occur within the next week.

All of the proceeds from this private placement will be used for general corporate purposes as well as for exploration work on the company's existing mining exploration properties located in the province of Quebec.

The private placement is subject to regulatory approval. In accordance with applicable securities legislation, the securities issued in connection with the private placement will be subject to a four-month hold period following the closing of the Offering.

 

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ABOUT THREEGOLD

Threegold Resources is a dynamic and active Quebec-based junior explorer with a diversified property portfolio. Threegold is pursuing exploration on three main projects in Quebec: Lemieux Dome in the Gaspe Peninsula for copper, zinc, lead, silver and gold; Mercier in the Abitibi region where the company recently made a rare earth element discovery containing base and rare metals (see press release of February 2, 2010); and Adanac, a gold property located a few kilometres from downtown Rouyn-Noranda.

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.

Threegold Resources Inc. President and CEO (819) 825 3883, (819) 825 7545 (FAX) This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Threegold Resources Inc. Chief Financial Officer (418) 999 8811, (418) 652 8149 (FAX) This e-mail address is being protected from spambots. You need JavaScript enabled to view it

S.N.D.L. Financial Communication Investor Relations (514) 380 5610  This e-mail address is being protected from spambots. You need JavaScript enabled to view it