New Dimension Announces $1,200,000 Private Placement
New Dimension Resources Ltd. (TSXV: NDR) (the "Company" or "New Dimension") has arranged a non-brokered private placement of up to 6,000,000 Units at a price of $0.20 per Unit. Each Unit shall be comprised of one common share and one warrant. Each warrant will entitle the holder to acquire one common share of New Dimension at a price of $0.30 for a period of 12 months immediately following the closing date. The warrants will be subjected to an accelerated exercise provision if the share price of New Dimension trades at or above $0.50 for 10 or more consecutive trading days. New Dimension will pay a finder's fee in cash or shares, at the election of the Company, of 5% of the proceeds raised, or 5% of the number of Units sold, respectively, through the efforts of the Finder. The Finder will also receive finder's warrants (the "Finder's Warrants") equal to 5% of the Units placed by the finder. The Finder's Warrants will have the same terms as the Units and be exercisable into common shares at a price of $0.30 for a period of 12 months immediately following the closing date. Net proceeds of this private placement will be used to further the Company's exploration projects, fund possible new acquisitions and for general working capital. The Units will be offered and sold by way of private placement exemptions in all provinces and jurisdictions of Canada, other than Quebec, and into jurisdictions outside of Canada and the US. This private placement share offering is subject to, among other things, receipt by New Dimension of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and a hold period of 4 months for all issued securities. About New Dimension Resources New Dimension is engaged in the acquisition, exploration and development of quality mineral resource properties throughout the Americas with a focus on significant bulk tonnage gold and silver deposits. In addition to its 100% owned Cenepa gold project in northern Peru, New Dimension has an option to earn a 100% interest in Strategic Metals' Gild gold property within a geological belt that the Company & Strategic Metals believes has similar characteristics to discoveries by ATAC Resources Ltd. in the Yukon (http://media3.marketwire.com/docs/ndr-gild.pdf). Drilling on the ATAC Property has returned significant gold values, as demonstrated by announced intercepts of 9.25 g/t gold over 31.1 metres and 24.07 g/t gold over 28.4 metres from over 25,000 metres of diamond drilling in excess of 130 holes. An initial exploration program is anticipated by the Company as soon as spring weather conditions allow. Subject to favourable results from this initial program and the receipt of all necessary permits, a drill program is likely to be carried out in the fall of 2011. ON BEHALF OF THE BOARD NEW DIMENSION RESOURCES LTD. "Fred G. Hewett" ___________________________ Fred G. Hewett, P.Eng. President & CEO
New Dimension Res. is a silver and gold exploration company based in Canada.
New Dimension Res. holds various exploration projects in Canada and in Peru.
Its main exploration properties are HANNAPAH, EAST WALKER and REESE RIVER NEVADA in USA, DOMAIN, TREND and SOUTH VOISEY'S BAY in Canada, CORI PUNCHO PROJECT and CENEPA in Peru and MAGMA PROJECT, BLACKROCK and AMADOR CANYON in Argentina.