|December 24, 2014
Orefinders Closes Private Placement for $300,000
Orefinders Resources Inc. (TSX.V: ORX) has closed the previously announced non-brokered private placement of 3,000,000 flow-through shares at a price of $0.10 per share for gross proceeds of $300,000. The shares will be subject to a hold period expiring on April 25, 2015. No finders fees were payable on this placement.
The proceeds from this placement will be used for exploration at the Company’s wholly-owned Mirado gold project in Kirkland Lake, Ontario which contains a current NI-43-101 compliant resource of 442,000 ounces of gold contained within an inferred resource of 10,618,000 tonnes at an average cut grade of 1.29 g/t Au. Throughout 2014, the Mirado land package was significantly expanded through staking and acquisitions, with Orefinders now holding 2,348 hectares of highly prospective, under-explored ground. During the fall of 2014 Orefinders released significant high grade trenching results which demonstrated excellent exploration potential for expansion of the current resource (see our news release of December 3 2014).
On behalf of the Board of Directors
William Yeomans, P. Geo
For further information, please contact:
William Yeomans, P. Geo.