Toronto,
Ontario
January
11, 2008
Press Release 02 – 2008
Nayarit
Gold Inc. Completes Non-Brokered
Private Placement of $2,273,000
The
Directors of Nayarit Gold Inc. (NYG – TSX.V) are pleased to
announce the completion of a non-brokered private placement financing of
$2,273,000 comprising the sale of 5,682,500 Units, sold at $0.40 per Unit which
was first announced on January 2, 2008. Each Unit consists of one common
share and one common share purchase warrant (“Warrant”). Each
whole Warrant entitles the holder to acquire one common share for $0.60 until
January 11, 2009 and for $0.70 until January 11, 2010. In conjunction
with the financing, a finder was paid a cash commission of $9,100 and issued
27,300 Warrants. All securities issued in conjunction with the offering
are subject to a hold period, which expires on May 12, 2008.
Proceeds of the financing will be used for exploration activities on the
Company’s mineral properties in Mexico, and for general working
capital purposes.
Nayarit
Gold Inc. is a Toronto based junior resource
company dedicated to gold exploration in the proven precious metal districts of
Mexico.
Management’s goal is to rapidly build a profitable resource company and
maximize shareholder value through successful exploration and aggressive
testing of high quality targets.
For further information on Nayarit Gold please visit
the company’s website at www.nayaritgold.com or contact:
Mr.
Colin P. Sutherland
President & CEO
(902)
252-3833
info@nayaritgold.com
CAUTIONARY
STATEMENT
The TSX Venture Exchange does
not accept responsibility for the adequacy or accuracy of this release. No
stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. This News Release includes
certain “forward-looking statements”. All statements other than
statements of historical fact, included in this release, including, without
limitation, statements regarding potential mineralization and reserves,
exploration results, and future plans and objectives of Nayarit, 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 Nayarit’s expectations are exploration risks detailed
herein and from time to time in the filings made by Nayarit with securities
regulator.
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