Microsoft Word - 2016018 ASX Announce (Capital Raising).docx
BUREY GOLD LIMITED
Level 2, Suite 9
389 Oxford Street Mt Hawthorn WA 6016
Australia
P. +61 8 9381 2299
F. +61 8 9380 6761
A.B.N. 14 113 517 203
18 April 2016 ASX Release
Burey Finalises Capital Raising Arrangements
Burey Gold Limited (Burey) (ASX: BYR) is pleased to announce that it has reached agreement for a private placement to professional investors to raise $3.35 million by issue of 119.48 million shares at an issue price of $0.028 each. The capital raising is for funding exploration activity at the Giro Gold Project in the Democratic Republic of Congo and settlement is anticipated later this week.
Remaining results from the Diamond drilling campaign at Giro are currently subject to review and QA/QC sample analysis prior to anticipated release later this week. An infill soil sampling programme has been completed at Mangote with regional soil sampling programmes ongoing to ensure full coverage of both PE'S 5046 and 5049. The programme will identify new mineralised areas as well as areas with no potential which will be relinquished to save on licence costs.
A consultant geologist has been appointed to carry out detailed mapping and sampling programmes at Douze Match and Mangote. Highly significant soil anomalies, each with potential for more than 5km of mineralisation were identified from first pass soil sampling. An area developed historically by the Belgians at "Tango" lies at the core of the soil anomaly at Douze Match and will be followed up with low cost shallow RC drilling.
For more information contact:
Klaus Eckhof Peter Taylor
Chairman Investor Relations
Tel: +377 680 866 300 Tel: +61 (0)412 036 231
[email protected] [email protected] Or visit www.bureygold.com