Keywords : Canada | Gold | K Street |

News - Tuesday, December 11, 2012
Masuparia Proposes to Raise $1 Million

NR: 12-06

Masuparia Gold Corporation (TSX.V: MAS) ("the Company") proposes to raise up to $1 million in a non-brokered private placement financing, on a best efforts basis, by the issuance of $750,000 of Flow Through Units ("FT Units") and $250,000 of Non-Flow Through Units ("NFT Units"), subject to regulatory approval. Each FT Unit will comprise of one common share at a price of $0.14 CDN per share and one half of a NFT share purchase warrant exercisable for 2 years at $0.20. Each NFT unit will comprise one common share at a price of $0.12 CDN per share and one full warrant exercisable for 2 years at $0.20. Shares issued under this financing will be subject to a hold period of 4 months and one day from the closing date of the offering. In accordance with Exchange regulations, finders' fees may be payable to accredited agents on that portion of the funds raised by third parties.

Funds from this financing will be used to collect a bulk sample from Greywacke North this winter, to process 10,000 to15,000 tonnes of this material through the Jolu Mill, to undertake 2,500 metres of drilling on Greywacke North and the Lyons zone, all subject to regulatory approval. The Company also anticipates continuing the environmental permitting process and commencing a Preliminary Economic Assessment, including an updated NI 43-101 resource estimate.

The Company will also proceed toward earning a 50% interest in the North Lake and Preview Lake projects by undertaking 1,000 metres of drilling on the North Lake deposit to support the calculation of a 43-101 compliant resource estimate.

The Company anticipates that there will be a net proceeds returned to the Company from gold sales from the bulk sample.

About Masuparia
Masuparia Gold Corporation is a Canadian mineral exploration company focused on grassroots exploration projects with world class potential. Masuparia currently is the Operator of a joint venture (LRSG JV) in the La Ronge Gold Belt of Saskatchewan with Golden Band Resources on three properties: Greywacke Lake, Preview Lake and North Lake. The Greywacke Lake gold project, which the Company believes to have bulk mineable potential, is at an advanced stage with several known high-grade gold-bearing zones and a resource estimate on the Greywacke North Zone of 184,000 tonnes at 8.4 g/t Au plus an Inferred Resource of 58,000 tonnes at 7.29 g/t (at a cut-off of 5 g/t) (NI 43-101, Wardrop 2008).

On Behalf of the Board of Directors
Masuparia Gold Corporation

Ron Netolitzky, President & CEO

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

For further information contact: Tony Perri - Investor Relations at 604-685-8592 Or Raju Wani of Wani Capital at 403-240-0555
Suite 611, 675 W. Hastings Street Vancouver, British Columbia, Canada V6B 1N2
Tel: 604-685-8592 Fax: 604-669-2543 Website: www.masupariagold.com

Masuparia Gold Corp

	EXPLORATION STAGE
	CODE : MAS.V
	ISIN : CA5764593094

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Masuparia Gold is a gold exploration company based in Canada.

Masuparia Gold holds various exploration projects in Canada and in Mexico.

Its main exploration properties are GREYWACKE, UNGAVA, DICKENS LAKE and MASUPARIA PROJECT in Canada.

Masuparia Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 319 044 as of today (US$ 232 500, € 217 225).

Its stock quote reached its highest recent level on September 20, 1996 at CA$ 2.40, and its lowest recent point on April 25, 2024 at CA$ 0.01.

Masuparia Gold has 31 904 373 shares outstanding.

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