Company and Mining

7th November 2016

White Cliff Minerals is pleased to announce that is has completed a $1.5 million placement to professional and sophisticated investors through the issue of 200 million new shares at 0.75 cents per share. Participants in the placement will also receive one attaching option exercisable at $0.013 on or before 31 December 2018 for every three shares subscribed.

Novus Capital Limited acted as Lead Broker and underwriter in respect of the Placement. The Placement was underwritten to $750,000 however investor demand was well in excess of the underwritten amount.

Funds raised pursuant to the Placement will be used primarily to fund the following exploration:

  1. Further drilling at the Aucu gold prospect where significant surface expressions of visible gold have been discovered along strike from the Company’s existing gold resource of 156,000 ounces at 4.2 g/t of gold from surface
  2. Conduct metallurgical testwork on high grade samples recovered from this years drilling, and update its JORC compliant gold resources at the completion of this testwork, and;
  3. Drill testing high grade gold soil anomalies at the Company’s Merolia gold project

To view the full announcement, please click here