Bitterroot Resources Closes Sale Of Mineral Creek
Claims And Financing
Resources Ltd. (BTT, TSX-V) has closed the sale of the mining claims comprising
its Mineral Creek Project and related data and equipment for C$1,000,000.
In conjunction with the sale, Bitterroot Resources Ltd. has also closed a
non-brokered private placement of 10,000,000 units priced at C$0.05. Each unit
consists of one common share and one half of a common share purchase warrant.
Each whole warrant is exercisable at C$0.10 for a period of 12 months. The common
shares and any shares issued on exercise of the warrants are subject to a hold
period expiring August 25, 2012.
A referral fee of 5% was paid in conjunction with the sale of the Mineral Creek
claims and a finder's fee of 6% plus 600,000 warrants with the same terms as
the common share purchase warrants were paid in conjunction with the private
The proceeds from both the sale of the Mineral Creek Project and the private
placement will be used for working capital and to fund exploration of the
Company's Windy gold project in Nunavut and its Michigan properties.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr