Sona Resources Corporation: Closing of First Tranche of Private Placement for $257,400
Published : March 15, 2011

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Keywords :   Canada | Gold | Gold Mine | Gold Production | Market |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 15, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sona Resources Corp. (the "Company" or "Sona") (News - Market indicators)(FRANKFURT:QS7) is pleased to announce that, further to its news release of February 17, 2011, the Company has closed the first tranche of its private placement (the "Private Placement") of 234,000 units (the "Units") at a price of $1.10 per Unit raising gross proceeds of $257,400. Each Unit consists of one common share of the Company and one-half of one transferable warrant of the Company (each whole warrant, a "Warrant"). Each Warrant is exercisable into one common share of the Company at a price of $1.50 per share for a period of two years, expiring on March 15, 2013.

The Company has also paid $14,960 and issued 13,600 warrants (the "Finder's Warrants") as compensation to certain finders on closing of the Private Placement. Each Finder's Warrant entitles the finder to purchase one common share of the Company (the "Finder's Warrant Share") until March 15, 2013 at an exercise price of $1.10 per Finder's Warrant Share.

All securities issued pursuant to the Private Placement are subject to a hold period expiring on July 16, 2011.

The proceeds from the sale of the Units will be used for general working capital and for general corporate purposes. 

About Sona Resources Corp.

Since its inception in 1990, Sona has engaged in exploration activities at its mineral properties in Canada and the United States, as well as small-scale gold production at its flagship property, the 100 percent owned Blackdome Gold Mine ("Blackdome"), in south-central British Columbia, 250 kilometres north of Vancouver. At Blackdome, the indicated mineral resources are estimated to be 144,500 tonnes, grading 11.29g Au/t and containing 52,600 ounces of gold, and the inferred resource is estimated to be 90,600 tonnes, grading 8.79g Au/t (news release dated May 4, 2010). At its 100 percent owned Elizabeth Gold Property, 30 kilometres south of the Blackdome Gold Mine, Sona has outlined an inferred gold resource of 522,900 tonnes, grading 12.3g Au/t and containing 206,100 ounces of gold (news release dated June 8, 2009).

Sona aims to bring its fully permitted Blackdome mill back into production over the next three years at a rate of 200 tonnes per day, with feed from the former-producing Blackdome Gold Mine and the Elizabeth Gold Deposit Property. A positive Preliminary Economic Assessment by Micon International Ltd. (news release dated May 28, 2010), at a gold price of $950 per ounce over an eight-year period, has estimated pre-tax cash flow of $27 million and pre-production capital costs of $21 million.

Sona also holds a 100 percent interest in the Montgolfier Project located in Quebec, 40 kilometres east of the multimillion-ounce Casa Berardi Mine gold deposit.

On behalf of the Board,

Nick Ferris, Executive Chairman

For more information, visit www.sonaresources.com.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact

Sona Resources Corporation
+1 (888) 236-5200
+1 (604) 684-6678 (FAX)
info@sonaresources.com
www.sonaresources.com
or
Marston Webb International - Media Inquiries
Victor Webb/Madlene Olson
+1 (212) 684-6601
+1 (212) 725-4709 (FAX)
marwebint@cs.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Sona Resources Corp.

EXPLORATION STAGE
CODE : SYS.V
ISIN : CA83540Y1088
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Sona Resources is a gold exploration company based in Canada.

Sona Resources holds various exploration projects in Canada.

Its main exploration properties are ZENDA, CALLAGHAN and GOLDEN TREND in USA and MONTGOLFIER, TRUAX CLAIMS, ELIZABETH and BLACKDOME in Canada.

Sona Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.8 millions as of today (US$ 1.3 millions, € 1.2 millions).

Its stock quote reached its highest recent level on September 14, 2007 at CA$ 5.00, and its lowest recent point on April 08, 2016 at CA$ 0.01.

Sona Resources has 29 224 056 shares outstanding.

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Financings of Sona Resources Corp.
8/2/2013Closes Second Tranche of Private Placement
7/25/2013Closes First Tranche of Private Placement
6/18/2013Closes Second Tranche of Private Placement
3/18/2013Announces Private Placement
1/24/2012CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
1/2/2012CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
12/21/2011ANNOUNCES PRIVATE PLACEMENT
2/17/2011Sona Resources $1,499,999.60 private placement
Nominations of Sona Resources Corp.
4/1/2011APPOINTS MICHAEL WILLIAMS TO BOARD OF DIRECTORS
Project news of Sona Resources Corp.
9/8/2011INTERSECTS 8.4g Au/t OVER 0.51 METRES
7/19/2011(Blackdome)Commences 5,000-Metre Surface Drill Program at Its Blackdome...
7/12/2011(Elizabeth)s 4,500-Metre Underground Drill Program at Its Elizabeth Gol...
6/9/2011(Elizabeth)BEGINS 4,500-METRE UNDERGROUND DRILL PROGRAM AT ITS ELIZABE...
4/1/2011(Elizabeth)Releases Final 2010 Drill Results From Elizabeth Gold Deposi...
3/24/2011(Elizabeth)Gears Up for Underground Exploration at the Elizabeth Gold D...
3/22/2011STAY IN TOUCH WITH SONA RESOURCES
8/13/2008Releases Technical Report and Drill Data on the Elizabeth So...
5/1/2008(Montgolfier)Reports on Montgolfier Project Drilling Progress in Quebec
3/3/2008(Montgolfier)Provides Progress Report on its Montgolfier Drilling Program
12/14/2007(Montgolfier)Finalizes Plans for New Drill Program at its Montgolfier Pro...
10/16/2007(Elizabeth)Intersects 12.38g Au/t over 3.24 metres at the Elizabeth Sou...
10/9/2007Intersects 5.73g Au/t over 1.75 metres on the Blackdome No. ...
9/13/2007(Elizabeth) Intersects 37.5g Au/t over 11.2 metres at the Elizabeth Sou...
9/11/2007Identifies a Possible Southern Extension of the Giant Vein a...
6/26/2007(Montgolfier)Additional Promising Drilling Results from J-Pacific's Montg...
4/12/2005(Blackdome)2005 Technical report
Corporate news of Sona Resources Corp.
12/24/2015Sona Resources Clarifies Technical Disclosure
9/3/2015Sona Becomes Tier 2 Issuer
4/10/2015Sona Files Response Against Civil Claim by Illidge and White...
3/11/2015Sona Disputes Civil Claim Filed by Illidge and White Over El...
3/11/2015(Elizabeth)Disputes Civil Claim Filed by Illidge and White Over Elizabe...
12/17/2014Sona Recieves Threat to Elizabeth Option Agreements
10/28/2014IIROC Trading Resumption - PZE; LAB; REV.H; SYS
10/24/2014IIROC Trading Halt - SYS
7/16/2013Enters Into an Option Agreement to Acquire 100% of the Miner...
5/14/2013Closes First Tranche of Private Placement and Reprices Stock...
3/13/2013and China Machinery Engineering Corporation Extend the Timef...
2/13/2013Signs Agreement With China Machinery Engineering Corporation...
10/26/2012(Blackdome)Blackdome-Elizabeth Gold Project Progress Report
7/14/2011MiningInsights (tm) Sona Resources Corp.: Resurgent Value in...
4/19/2011CLARIFIES TECHNICAL DISCLOSURE
3/15/2011Closing of First Tranche of Private Placement for $257,400
9/18/2008Receives Quebec Mineral Investment Refund
4/18/2008Sale of Shares
2/15/2008 Grants Incentive Options
1/31/2008Gold Announces 2008 Exploration Plans
1/24/2008Commences New Drill Program at its Montgolfier Project in Qu...
1/21/2008Terminates SEC Registration
1/15/2008 Resignation of Directors
6/25/2007Arranges Financing
6/20/2007Commences Drilling Program at the Elizabeth Southwest Gold V...
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