FOR IMMEDIATE
RELEASE
FRANKFURT: S5N SACRE-COEUR MINERALS
RECEIVES $1.8 MILLION FROM RECENT WARRANT
EXERCISES VANCOUVER, British Columbia
– SACRE-COEUR MINERALS,
LTD. (the
“Company”) announces the receipt of
CAD $1,826,770 in aggregate proceeds from exercise
of 918,680 Share Purchase Warrants during the
period from April 1, 2007 to date.
Included were Agent Warrants exercisable at
CAD $1.50 and One-Half Share Purchase Warrants
exercisable at CAD $2.00 which comprised part of
the Units, both of which were issued in connection
with the Company’s $13.2 Million Initial
Public Offering of October,
2005. According
to Irwin Olian, CEO of the Company, “We are
very pleased to see the continued support of our
investor base reflected in the recent Warrant
exercises. These exercises have
the effect of reducing a short-term overhang from
our share market, as well as creating a strong
current cash position of $7.4 million.
These additional funds will allow us to
continue with our aggressive development of the
Million Mountain project, as well as allowing us
to bring several of our other key gold projects in
Guyana online in the near future.
These funds are sufficient to cover all
presently budgeted exploration and development
expenditures through December,
2008.” About
Sacre-Coeur
The Company is engaged in the
acquisition, exploration and development of
properties for the potential mining of gold,
metals and diamonds in South America, initially
focussing on exploration for gold on its
properties in Guyana. The Company presently has an
interest in approximately 850 square miles of
mineral properties in Guyana, including the
Million Mountain Property. The Company has offices
in Vancouver, Canada and Georgetown,
Guyana. More information about
the Company is available at <www.scminerals.com>.
ON
BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR
MINERALS, LTD. “Irwin
Olian”
Irwin
Olian Chairman &
CEO For
further information,
contact:
Irwin
Olian,
President and CEO Email:
tigertail@scminerals.com Phone:
604-899-0100 Fax:
604-899-0200 | Lee Dunston, Corporate
Communications Email:
ldunston@scminerals.com
Phone:
604-899-0100 Fax:
604-899-0200 |
The TSX Venture Exchange
has not reviewed and does not accept
responsibility for the adequacy or accuracy of the
content of the information contained
herein. The statements made in
this press release may contain certain
forward-looking statements that involve a number
of risks and uncertainties.
Actual events or results may differ from
the Company’s
expectations.
Regards, Wilma
McKenzie Project Coordinator Sacre-Coeur Minerals, Ltd. WILMA@SCMINERALS.COM |