PRESS RELEASE
- Conquest announces PRIVATE PLACEMENT
financing of up to $4.0 million
Toronto, Ontario
December 4, 2009 Conquest Resources Limited (TSX-V: $B!H(BCQR$B!I(B)
announces a non brokered private
placement of up to $4,000,000 consisting of up to 13,043,478 flow$B!>(Bthrough
shares at $0.23 per share and/or up to 21,052,631 units ($B!H(BUnits$B!I(B) at $0.19 per
unit, each unit consisting of one common share and one$B!>(Bhalf a common share
purchase warrant, each whole warrant entitling the holder to purchase one
common share at $0.26 per share for one year. The offering will be made
available to accredited investors in Canada
and eligible international investors. No securities will be offered in the United
States of America or to United
States residents.
Proceeds
of the flow$B!>(Bthrough share issue will be used to fund exploration expenses on
Conquest$B!G(Bs Alexander Property near Red
Lake, Ontario. Proceeds of
the unit issue will be used for expenses of the offering, general corporate
purposes and working capital.
All
securities issued will subject to a hold period of four months and one day from
the date of issue in accordance with applicable securities laws and the
requirements of the TSX Venture Exchange.
Closing
of the placement will be on or about December 15, 2009.
ABOUT THE COMPANY
Conquest
is exploring several gold projects in Ontario.
These include the Alexander Gold Project at Red
Lake; the Aurora
and Sunday Lake
properties at Detour Lake;
the King Bay Gold Project at Sturgeon
Lake (60% interest); and the
Smith Lake Gold Project at Missanabie.
There
are currently 72,663,830 shares of Conquest issued and outstanding.
This news release may include certain
"forward-looking statements". All statements other than statements of
historical fact, included in this release, including, without limitation,
statements regarding potential mineralization, resources and reserves,
exploration results, and future plans and objectives of Conquest, are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from Conquest$B!G(Bs expectations are exploration risks detailed herein
and from time to time in the filings made by Conquest with securities
regulators.
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 the
accuracy of this release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Toll free: 1(877) 280-8633
D. Brett Whitelaw, Vice-President
? (604) 662- 8633 - Vancouver
Rob Kinloch, Director ?
(306) 343- 5799 - Saskatoon
Terence N. McKillen,
President & CEO ? (647) 728- 4126 - Toronto
John F. Kearney, Chairman
? (416) 362- 6686 - Toronto
info@conquestresources.net
www.conquestresources.net