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| | April 08, 2010
Argus Closes Private placement for a total of $330,000
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| | Vancouver, B.C., April 8, 2010 -- Further to news releases dated March 5, 2010, Argus Metals Corp. (the "Company") announces that it has received TSX Venture Exchange approval to the closing of its private placement. The Company raised $330,000 through the issuance of 1,650,000 units at a price of $0.20 per unit (the "Units") under the placement. Each Unit consists of one common share and one transferable share purchase warrant. Each warrant is exercisable for up to one year from the closing date, at a price of up to $0.30 per share.
The Shares are subject to a hold period expiring August 8, 2010. There are no finder's fees associated with the private placement.
The proceeds will be used for the exploration of the Company's Kaituma Gold/Uranium project in Guyana and for general working capital. Kaituma is a drill ready, large scale-bulk tonnage uranium target with 3 coincident, "kilometer scale" gold anomalies. Gold assays have returned "gold in soil" values of up to 827 ppb. The immediate work program includes site selection for uranium exploration drilling, and mapping and trenching on the gold targets.
Paul D. Gray, P.Geo. is the Qualified Person with respect to the Kaituma Project and has reviewed and approved this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Collins
President and CEO
For further information, please contact:
Argus Metals Corp.
350-580 Hornby St,
Vancouver BC, V6C 3B6
Telephone: (604) 687-2471
Facsimile: (604) 687-2472
Website: www.argusmetalscorp.com
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 news release.
We seek safe harbour |
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| | You can view the Next News Releases item: Wed Apr 21, 2010, Argus Update on Kaituma Gold-Uranium Exploration Project
You can view the Previous News Releases item: Fri Mar 5, 2010, Private Placement
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