Zoloto Resources
Announces A Non-Brokered Private Placement And First Closing
Zoloto
Resources Ltd. ("ZR" or the "Company") (ZR - TSX-V), is
pleased to announce that it has completed the first tranche of a
non-brokered private placement (the "Private Placement") of up to
20,000,000 common shares, pursuant to which 8,250,000 common shares were
sold at a price of $0.50 per share for aggregate proceeds of CDN$4,125,000.
The securities issued under the first tranche of the Private Placement are
subject to a hold period expiring on October 11, 2008.
The Company intends to use the net proceeds of the
Private Placement for further exploration on the Company's mineral projects
in Russia and for working capital and general corporate purposes.
The securities offered have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons except
in certain transactions exempt from the registration requirements of the U.S.
Securities Act.
About Zoloto Resources
Zoloto is a gold exploration company whose primary focus
is to become a mid-tier gold producer through the advancement of its gold
exploration properties in the Russian Federation. In addition, Zoloto's
management will continue to evaluate acquisition opportunities within the
Russian Federation. Zoloto's philosophy is to unlock shareholder value in a
socially and environmentally responsible manner.
Robert Maddigan, Director
For more information please contact:
Leif Smither/Greg Agar
Investor Relations
Zoloto Resources Ltd.
Phone: (604) 608-0223
Fax: (604) 608-0344
This news release contains forward-looking information which is not
comprised of historical facts. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events, results,
performance, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information. Forward looking
information in this news release includes, but is not limited to, the
Company's objectives, goals or future plans. Factors that could cause
actual results to differ materially from such forward-looking information
include, but are not limited to, those risks set out in the Company's
public documents filed on SEDAR. Although the Company believes that the
assumptions and factors used in preparing the forward-looking information
in this news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news release,
and no assurance can be given that such events will occur in the disclosed
time frames or at all. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of
new information, future events or otherwise, other than as required by
law.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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