Astral Mining Corporation

Published : April 09th, 2008

to raise $1,800,000 CDN

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Astral Mining Corporation

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Astral Mining Corporation

 

News Releases

 

Wednesday, April 09, 2008
Astral Mining Corporation to raise $1,800,000 CDN


 

Vancouver, British Columbia; Astral Mining Corporation (TSX-V AST) ("Astral" or "the Company") has arranged a non-brokered private placement of up to six million units priced at 30 cents per unit to raise $1,800,000. Subscribers may include directors and officers of the Company. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share of the company for 24 months from the closing date at a price of 50 cents per common share. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date. The warrants are subject to an acceleration clause such that if, during the term of the warrants but after the expiry of the four-month hold period, the closing price of the company's shares remains at or above a price of 75 cents for each of 30 consecutive trading days, the company may give notice to the purchasers that the warrants will expire in 20 days unless the warrants are exercised within that time.

The company may pay certain finder's fees in cash equal to 8 per cent of the gross proceeds raised from purchasers introduced to the company by the finder. The private placement and payment of any finder's fees are subject to acceptance by the TSX Venture Exchange. The net proceeds will be used to finance exploration work on Astral's Jumping Josephine property as well as the company's other high-potential precious metals properties, and for general working capital.

Astral is currently drilling its gold prospects in the Carolinas. In late 2007, the company completed a phase 2 drill program, consisting of 69 holes on the 11,785-hectare Jumping Josephine ("JJ") gold project in the West Kootenay region of Southern British Columbia, where Astral has earned a 60-per-cent interest from Kootenay Gold.

2007 "JJ" drill highlights included: (previously released January 21, 2008)

  • 19m averaging 7.01 g/t gold (62.32 feet at 0.205 opt) including 5m averaging 16.42 g/t gold (16.40 feet at 0.479 opt)
  • 10m averaging 9.95 g/t gold (32.8 feet at 0.29 opt)
  • 4m averaging 15.18 g/t gold (13.1 feet at 0.443 opt) including 1m at 56.4 g/t gold (3.28 feet at 1.645 opt)
  • 5m averaging 7.74 g/t gold (16.4 feet at 0.226 opt) including 2m averaging 15.99 g/t (6.56 feet at 0.466 opt)
  • 3m averaging 13.83 g/t gold (9.84 feet at 0.403 opt) including 1m at 35.6 g/t (3.28 feet at 1.038 opt)
  • 6m averaging 8.28 g/t gold (19.68 feet at 0.241 opt) including 3m averaging 26.9 g/t (9.84 feet at 0.784 opt)
  • 8m averaging 12.44 g/t gold (26.24 feet at 0.363 opt) including 3m averaging 26.2 g/t gold (9.84 feet at 0.784 opt)
  • 5m averaging 7.96 g/t gold (16.4 feet at 0.232 opt) including 1m at 32.4 g/t (3.28 feet at 0.945 opt)

To view all 2007 "JJ" drill holes see long section map on the website at http://www.astralmining.com/i/maps/LongSectionRevE_Jan2008crop.JPG

Astral Mining Corporation is a Canadian-based company engaged in the exploration and development of precious metal properties in North America. By focusing on exploration in mining-friendly districts, the Company minimizes the political and social risks encountered in many other parts of the world. With a new gold discovery at the Company's Jumping Josephine Gold Project in Southern British Columbia, and an experienced technical team and seasoned management, Astral is poised to leverage this expertise into early exploration success. Further details on Astral Mining Corporation and its high-quality portfolio of exploration projects can be found at www.astralmining.com.

ON BEHALF OF THE BOARD

"Manfred Kurschner"

Mr. Manfred Kurschner, President & CEO



For further information on Astral please contact Manfred Kurschner, President & CEO, at 1-800-901-0058 or 604-687-1828 or by email at info@astralmining.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

 

Astral Mining Corporation

Astral Mining Corporation

Astral Mining Corporation

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Astral Mining Corporation

EXPLORATION STAGE
CODE : AA.V
ISIN : CA0463494033
CUSIP : 046349 40 3
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Astral Mining is a silver and gold exploration company based in Canada.

Astral Mining holds various exploration projects in Canada and in Mexico.

Its main exploration properties are JUMPING JOSEPHINE, HONEYMOON BC and BARRIERE RIDGE in Canada and LOS CRESTONES PROPERTY in Mexico.

Astral Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 769 500 as of today (US$ 584 949, € 523 939).

Its stock quote reached its highest recent level on July 13, 2007 at CA$ 8.70, and its lowest recent point on September 21, 2015 at CA$ 0.02.

Astral Mining has 25 650 000 shares outstanding.

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Annual reports of Astral Mining Corporation
2008 Annual report
Annual Report 2007
Financings of Astral Mining Corporation
11/14/2007 Private Placement Oversubscribed
3/21/2007Private Placement Of Flow-Through Units With The Mineralfiel...
Project news of Astral Mining Corporation
9/7/2011Drilling Started on Los Crestones in Mexico
5/11/2011(Jumping Josephine)Announces Initial Resource Estimate at Jumping Josephine
3/25/2011(Los Crestones Property)Commences Exploration Program at Los Crestones Gold-Silver P...
3/8/2011(Barriere Ridge)Signs Option on Barriere Ridge Silver-Gold Project, Southern...
6/22/2010(Jumping Josephine)Commences Summer Exploration Program on Jumping Josephine Go...
5/3/2010(Jumping Josephine)Files Independent 43-101, Begins 2010 Field Program
3/16/2010(Jumping Josephine)Completes Infill Aeromagnetic Survey at Jumping Josephine an...
2/2/2010(Jumping Josephine)Announces Encouraging Metallurgical Testwork on Drill Sample...
12/17/2009(Jumping Josephine)To Acquire 100% Interest In Jumping Josephine Kootenay To Re...
10/29/2009(Jumping Josephine)Prepares Bulk Sample Permit Application for Jumping Josephin...
11/18/2008(Jumping Josephine)and Kootenay Intersect new Stockwork Zone and Extend Main Di...
6/4/2008(Bear Creek)Gold Summit Reports Drill Assay Results From Carolinas
11/14/2007(Jumping Josephine (jj))Announces First Results from Phase II Drilling on the Jumpin...
9/11/2007(Jumping Josephine (jj))Final Drill Results of Phase I at its JJ Gold Discovery & An...
7/12/2007(Jumping Josephine (jj))Drills 7.01 g/t Gold over 19 metres on Jumping Josephine Gol...
7/10/2007Intersects 1.98 m of 17.8 g/t Gold at Saluda Gold Project, S...
6/14/2007(Jumping Josephine (jj))Drills 9.95 g/t Gold over 10m on Jumping Josephine Gold Proj...
6/6/2007(Jumping Josephine (jj))Update on Astral's Jumping Josephine Gold Project Drilling P...
6/5/2007(Jumping Josephine (jj)) Options Property Adjacent to Jumping Josephine Gold Project
5/24/2007Announces High-Grade Gold Assay, Saluda, South Carolina
3/20/2007(Jumping Josephine (jj))To Drill The Jumping Josephine; Sets 2007 Exploration Budget
Corporate news of Astral Mining Corporation
2/5/2013Orex and Astral Announce Final Court Order Approving Arrange...
2/1/2013Orex and Astral Announce Results of Annual General and Speci...
1/21/2013Announces Annual General and Special Meeting
12/10/2012Orex and Astral Announce Signing of Arrangement Agreement
12/10/2012Orex and Astral Announce Signing of Arrangement Agreement
10/15/2012Orex and Astral Announce Merger by Way of Plan of Arrangemen...
12/12/2011PRESS RELEASE - New Astral Results in Mexico
12/12/2011re=3A New Astral Mining results from Mexico
7/7/2011Gitennes Reports Strong Set of Urumalqui Assay Results
5/24/2011Gitennes Reports More Results from Urumalqui Project - Peru
5/6/2008and Kootenay Form JV and Announce 2008 Exploration Program f...
4/9/2008to raise $1,800,000 CDN
2/6/2008 Starts Drilling on the Bear Creek Gold Prospect, North Caro...
11/5/2007Closes $1,021,000 Financing
9/28/2007to Raise Total of $1.25 Million Financing.
9/27/2007Mineralfields Group Invests Another $500,000 In Astral Minin...
9/25/2007Increases Offering to $750,000
9/21/2007To Raise $500,000
9/11/2007Announces Commencement of Phase II Drilling at the Jumping J...
4/30/2007Commences Airborne Geophysical Survey on Chenier Copper-Gold...
4/27/2007Raises $1,250,000.00
4/5/2007Closes Financing with MineralFields Group
3/15/2007JV with Gold Summit
2/22/2007Acquires Additional Gold Properties In Nevada
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