Ltd.: $440,000 Non-Brokered Private
Patterson, Chairman of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M)
("the "Company") announces the closing of the non-brokered
private placement previously announced by news release dated October 25,
2011. The funds were raised through the issuance of 2,000,000 flow-through
("FT") Shares at a price of C$0.22 per FT Share for gross proceeds
to the Company of C$440,000. The FT Shares issued in the non-brokered private
placement are subject to a hold period expiring March 11, 2012.
As previously announced by news release dated November 9, 2011, the Company
closed a concurrent brokered private placement financing led by Haywood
Securities Inc., with funds raised through the issuance of 9,090,910
flow-through ("FT") common shares at a price of $0.22 per FT share,
for gross proceeds to the Company of C$2,000,000.
The proceeds from the private placements will be used for the advancement of
the Matagami Zinc/Copper Project, located in
Donner Metals Ltd.
Donner Metals Ltd. is a Canadian development and exploration company focused
on base and precious metal projects in Quebec. Donner's flagship project is a
partnership with Xstrata Canada Corporation in the Matagami
Mining Camp covering both the current development of a new mine and on-going
exploration activities. The project is located in the Abitibi region of
central Quebec and it is supported by Xstrata's existing mine infrastructure,
a highly experienced workforce and an operating 2,950 tonne
per day mill. As well, the area is serviced by highway, power, airport, railway and town site infrastructure.
ON BEHALF OF THE BOARD OF DONNER METALS LTD.
David Patterson, Chairman