FOR IMMEDIATE RELEASE
April 28, 2010 TSX: SCM.V
FRANKFURT: S5N
SACRE-COEUR MINERALS, LTD. CLOSES $1.225 MILLION PRIVATE PLACEMENT
VANCOUVER, British Columbia - SACRE-COEUR MINERALS, LTD. (the "Company") is pleased to announce the closing of its previously announced non-brokered private placement which has raised gross proceeds of CAD $1,225,000. Under the terms of the private placement, the Company has issued 1,750,000 Units (the "Units") at CAD $0.70 per Unit to a small group of accredited investors.
Each Unit consists of one common share of the Company and one-half of one share purchase warrant (the "Warrants"). Each whole Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of CAD $1.00 until April 28, 2012.
The Company paid cash finders' fees of CAD $14,945, representing 1.22% of the aggregate proceeds of the offering. The Units are subject to a 4-month hold period in Canada expiring August 29, 2010.
Proceeds from the private placement will be used to explore the Company's properties located in Guyana and for working capital. According to Gregory Sparks, CEO of the Company, "We are delighted with the investor response to our offering, which was oversubscribed. This additional capital will give us added flexibility as we ramp up alluvial gold production while continuing with our drilling program for hard-rock targets on the Million Mountain trend."
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 1000 sq. km of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at <www.scminerals.com>.
ON BEHALF OF THE BOARD OF DIRECTORS OF SACRE-COEUR MINERALS, LTD.
"Gregory B. Sparks" Gregory B. Sparks
President & CEO
For further information, contact:
Gregory Sparks, President and CEO
Email: greg@scminerals.com
Phone: 604-899-0100
Fax: 604-899-0200
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Scott Young, Corporate Communications
Email: scott@scminerals.com
Phone: 604-899-0100
Cellular: 705-888-2756
Fax: 604-899-0200
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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. There is no guarantee that the tenor or continuity of the resource target discussed herein will ultimately prove to be as delineated in the Company's sampling program, nor that the yields obtained by production scale gravity extraction will be comparable to the yields produced in the sampling program.
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