Microsoft Word - 15-10-07 Placement October
$300,000 PLACEMENT
Terrain Minerals Limited (ASX: TMX) ('Terrain' or 'the Company') is pleased to announce that is has received commitments from sophisticated investors to raise
$300,000 through the issue of 60 million shares at an issue price of $0.005 ('Placement').
The placement will be issued under the Company's current 15% capacity in line with ASX listing rule 7.1 and additional 10% placement capacity Under ASX LR 7.1A approved by the shareholders at its 2014 Annual General Meeting. Settlement is expected to occur by Monday 12 October 2015.
The funds raised will provide for additional working capital and to continue the development of the Great Western high grade gold asset, Rembrandt exploration Drilling and exploration at Gimlet for base metals in the Southern Fraser range
ENDS
For further information, contact:
Justin Virgin Executive Director
Terrain Minerals Limited
Email: [email protected] Tel: +61 8 9381 5558
About Terrain Minerals Limited:
Terrain Minerals Limited (ASX:TMX) is a minerals exploration company with a Western Australian based asset portfolio consisting of:
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Rembrandt (Au)- high grade gold project under option, drilling program to determine extent and tenor of mineralisation at high Monet Prospect currently underway;
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Gimlet (Ni-Cu)- 469km2 exploration licence located in the Fraser Range Province. Geophysical targets delineated, ground reconnaissance planned;
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Great Western (Au)- near term development opportunity, resource estimation and economic study process currently being conducted;
Through the combination of the two assets, Terrain has the potential of both near term cash flow and significant exploration upside.
| Terrain Minerals Limited | ASX:TMX | ABN 45 116 153 514 |
|Registered Office: S1, Ground Floor, 10 Ord Street, West Perth, WA, 6005|
|Mail: PO BOX 79, West Perth, WA, 6872|Ph: +61 8 9381 5558|www.terrainminerals.com.au|