|
FOR IMMEDIATE RELEASE
Date: July 30, 2013
|
Millstream Announces Private Placement
Under Temporary Relief Measures |
|
|
|
Toronto, Ontario – Millstream Mines Ltd. (TSX- V: MLM , Frankfurt: NJD) announces that it has begun the process of making an application to the TSX Venture Exchange for approval of a non-brokered private placement of up to 6,666,666 units at a price of $0.015 per unit to raise gross proceeds of up to $100,000. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the Company for a period of 2 years at a price of $0.05 during the first year and at a price of $0.10 for the second year period. Proceeds from the offering will be used to pay existing accounts payable and for general working capital. The placement is subject to the approval of the TSX Venture Exchange.
As well, Millstream is pleased to report that at its Annual and General Meeting held on June 28th all items on the agenda were voted on and passed. Millstream would like to thank all of its shareholders for their involvement and continued support.
About Millstream Mines Ltd.:
Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has projects in the Province of Ontario, Canada and in the State of Montana , USA . The past producing Potter Mine Property is host to copper-zinc-cobalt “stacked” mineralized zones located in the highly prolific Abitibi Greenstone Belt and more specifically in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario . A recently published initial NI 43-101 compliant resource estimate on the Potter revealed an indicated resource of 3,028,767 tonnes at 1.45% copper, 1.19% zinc, 389.7 ppm cobalt, 11.1 ppm silver, and 127.5 ppb gold along with an inferred resource of 2,071,101 tonnes at 1.08 % copper, 1.05 % zinc, 301.4 ppm cobalt, 8.7 ppm silver, and 81.7 ppb gold. The Tamarack Gold Property, a high grade former gold producer in the Tobacco Root Mountains of south western Montana , is in an advanced stage of underground exploration and development operating under the Small Mines Exclusion Act of the State of Montana .
Further information about these properties and the company is available on our website: millstreammines.com.
78,741,701 SHARES ISSUED
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Millstream seeks safe harbour with regard to forward looking statements.
|
|
Mr. Ernest Harrison, EM, Chairman and CEO
Mr. Marty Martinello, B.A., Executive V.P. |
Phone: 705-474-7282
|