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International Enexco Closes Oversubscribed Flow-Through Private Placement with Proceeds of $1.6 Million
Published : December 14, 2012
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Keywords :   Canada | Copper | Gold | Idaho | Market | Report | Silver | Uranium | Volatility |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2012) - International Enexco Ltd. (News - Market indicators)(OTCQX:IEXCF)(FRANKFURT:I6E) (the "Company" or "Enexco") is pleased to announce that further to its November 16, 2012 news releases, announcing a non-brokered private placement of 1,600,000 flow-through shares (each a "Share") at $0.60 per Share for proceeds of CDN$960,000 on a non-brokered private placement basis, the Company has closed and oversubscribed to 2,666,667 Shares for aggregate proceeds of CDN$1,600,000.

The net proceeds from the private placement will be used to fund Enexco's portion of a CDN$6 million exploration program at the Mann Lake uranium project in Saskatchewan.

The Company will pay $61,900.10 in finder's fees in connection with the closing of the placement. All of the securities issuable in the placement are subject to a hold period ending on April 14, 2013.

About Mann Lake Uranium Project

The Mann Lake Uranium Project is located in the heart of what is undisputedly the most prolific and highest grade uranium region in the world, the Athabasca Basin in Saskatchewan. The Project lies 25 km southwest from Cameco's McArthur River Mine and is 20 km northeast from Cameco's Millennium deposit. High-grade basement-hosted uranium mineralization was discovered at Mann Lake during a 2006 drill program. The two highest grade intervals averaged 7.12% U3O8 over 0.25 m and 5.53% U3O8 over 0.4 m at depths of just over 500 m.

On November 15, 2012, Enexco announced that an aggressive exploration drill program will begin starting January 2013, directed by the project operator, Cameco Corporation. The proposed budget for the 2013 program will be CDN$6,000,000 with Enexco's portion being CDN$1,800,000. The primary objective of the proposed exploration program will be to drill test priority geological and geophysical targets along the C conductor trend over the entire length of the property. This will allow for the evaluation for the presence of in situ mineralization, alteration and / or geochemical halos indicative of an economic deposit on the Mann Lake project.

The 2013 drill program may consist of 28 drill holes with an additional 10 contingency holes, using 3 separate drills totaling approximately 21,000 m (69,000 ft.) of drilling.

By the end of the proposed 2013 drill program, all geological and stacked resistivity and EM targets coincident with the C conductor trend will have been drill evaluated and characterized with potential detailed follow-up of positive results either undertaken or deferred to a future program. Additional grid refurbishment and geophysical surveying is planned for the northernmost portion of the property.

Enexco is a 30% partner in a joint-venture with Cameco (52.5%) and AREVA (17.5%) - two of the world's largest uranium companies to explore the Mann Lake Uranium Project in the Athabasca Basin in Saskatchewan.

Results from the proposed drill program will be published in subsequent press releases as they become available. In addition, Enexco anticipates receiving monthly progress reports and intends to release pertinent information on an as received basis. In the meantime investors are encouraged to discover the potentials of the Mann Lake property by visiting or by contacting the Company directly.

About International Enexco Ltd.

International Enexco Ltd is a North American exploration and development company focused on the feasibility stage Contact Copper Project in northern Nevada. The Company also pursues gold and silver exploration in Idaho and Nevada, and is advancing the Mann Lake Uranium Project located in Saskatchewan's prolific Athabasca basin.

On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.

G. Arnold Armstrong, President & CEO

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. We seek safe harbour.

Neither 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 accuracy of this release.

International Enexco Ltd.
Spiros Cacos
+1 604 669 8368
+1 604 662 3691 (FAX)
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

International Enexco Limited

ISIN : CA45945G1072
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International Enexco is a copper and uranium development stage company based in Canada.

International Enexco holds various exploration projects in Canada.

Its main exploration properties are LOOMIS, HOT POT PROJECT, MANN LAKE, CONTACT COPPER and MANN LAKE (JV) in Canada.

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Financings of International Enexco Limited
2/14/2014Announces Non-Brokered Private Placement
12/17/2012Closes Oversubscribed Flow-Through Private Placement with Pr...
Nominations of International Enexco Limited
7/13/2011Appoints Spiros Cacos
6/24/2008Appoints Two New Directors
Project news of International Enexco Limited
1/27/2014Commences $2.9 Million Drill Program on the Man Lake Uranium...
12/10/2013International Enexco Gives a Base Metal (and Uranium) Balanc...
11/13/2013(Mann Lake)Announces $2.9 Million Drill Program, on the Mann Lake Urani...
10/10/2013(Contact Copper)Files Pre-Feasibility Study for Contact Copper Project, Neva...
10/1/2013(Contact Copper)Announces Positive Pre-Feasibility Study for Contact Copper ...
6/25/2013Announces Joint Venture with Denison Mines on Bachman Lake U...
3/27/2013(Mann Lake)Reports On the Mann Lake Uranium Project, Athabasca SK
2/19/2013(Mann Lake)JV Partner Cameco Adds Third Drill Rig On the Mann Lake Uran...
2/8/2013(Mann Lake) Article: International Enexco Sets The Drills T...
1/21/2013International Enexco Commences $6 Million, Three Rig Drill P...
1/21/2013(Mann Lake)Commences $6 Million, Three Rig Drill Program, On the Mann L...
11/15/2012(Mann Lake)Announces $6 Million, Three Rig Drill Program, on Mann Lake,...
9/18/2012International Enexco Announces Positive Metallurgical Result...
9/18/2012(Contact Copper)Announces Positive Metallurgical Results from Contact Copper...
9/10/2012(Contact Copper)Completes Drill Program at Contact Copper Project and Report...
3/19/2012International Enexco Announces Additional Drill Results from...
2/24/2012International Enexco's Shares Power Ahead, As The Contact Co...
2/23/2012(Contact Copper)MINESITE.COM: International Enexco's Shares Power Ahead, As ...
1/16/2012(Contact Copper)Drill Program Update for Contact Copper Project, Nevada
11/28/2011(Contact Copper)Commences Drilling Contact Copper Project, Nevada
7/27/2011(Contact Copper)to Acquire Properties of Allied Nevada at Contact, Nevada
2/9/2011(Contact Copper)Rising Copper Prices Favor International Enexco
12/10/2010(Contact Copper)Intersects 43.0m of 0.49% CU (including 17.0m 0.89% CU) at C...
12/9/2010(Contact Copper)Intersects 43.0 Meters at 0.49% Copper at Contact Copper Pro...
8/17/2009Positive Copper Pre-Feasibility Study Received
2/9/2009(Mann Lake)Drilling at Mann Lake Underway with Cameco as Operator
1/7/2009(Mann Lake)Cameco to Commence 3rd Enexco Drill Program at Mann Lake
9/29/2008(Contact Copper)Prepares to Drill Newly Optioned Boston Claim Group
8/21/2008(Contact Copper)Pre-Feas Study to Commence at Contact - New Resource Calcula...
Corporate news of International Enexco Limited
11/4/2013Announces Drill Results From the Bachman Lake Uranium Projec...
10/10/2013Mid=2DDay Breaking News From Zenyatta and International Enex...
9/9/2013Mid=2DDay Breaking News From International Enexco=2C Miracul...
8/26/2013Mid=2DDay Breaking News From Rango Energy and International ...
8/26/2013and Denison Mines Commence Drill Program on the Bachman Lake...
12/19/2012Ron Hochstein Joins International Enexco as Director
11/29/2012Closes CDN$2.35 Million Non-Brokered Private Placement
11/16/2012Mid-Day Breaking News From Northern Vertex, Balmoral, Intern...
10/10/2012Mid-Day Breaking News From International Enexco, Gold Reach,...
10/10/2012(Contact Copper)Announces an Increase of 49% to 1.06 Billion Pounds of Coppe...
10/10/2012Announces an Increase of 49% to 1.06 Billion Pounds of Coppe...
8/27/2012Mid-Day Breaking News From Pelangio, International Enexco, S...
8/27/2012(Contact Copper)Confirms New Copper Target at Contact Copper Project (Nevada...
6/20/2012Todd Hilditch Joins International Enexco as Director
5/23/2012Mid-Day Breaking News From International Enexco, CardioComm,...
5/23/2012(Contact Copper)Additional Drill Results from Contact Copper Project, Nevada
4/26/2012Mid-Day Breaking News From International Enexco and Canada R...
3/19/2012(Contact Copper)Announces Additional Drill Results From Contact Copper Proje...
3/1/2012Mid-Day Breaking News From Mirasol, Novadx, Zimtu, Internati...
3/1/2012(Mann Lake)Announces Winter Geophysical Survey Planned at Mann Lake, Sa...
1/16/2012Mid-Day Breaking News From El Ni=F1o Ventures and Internatio...
11/28/2011Mid-Day Breaking News From El Nino, Millrock, Golden Touch, ...
11/16/2011(Contact Copper)s Progress at Contact Copper Project=2C NV
11/16/2011International Enexco Updates Progress at Contact Copper Proj...
7/11/2011Former Nevada Governor Jim Gibbons Joins International Enex...
12/1/2010President's Letter International Enexco
10/19/2010Graduates to Tier 1, TSXV
6/9/2009signs JV with Nevada Exploration Inc.
6/2/2009has entered into an option agreement with Fronteer Developme...
4/6/2009Announces Joint Venture
3/25/2009Cameco CEO Sees Uranium Supply Crunch And M&A
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