Gold Reach Announces Non-Brokered Private Placement
December 7, 2007
Vancouver, British Columbia: Gold Reach Resources Ltd. (GRH: TSX-V) ("Gold Reach" or the "Company") is pleased to announce a non brokered private placement (the “Private Placement”) of up to 5,000,000 units (each a “Unit”) at a purchase price of $0.15 per Unit raising aggregate gross proceeds to the Company of up to $750,000. Each Unit will consist of one common share issued on a flow-through basis under the Income Tax Act (Canada) and one half of one non transferable non flow through common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one non-flow-through common share of the company at a purchase price of $0.25 per share for a period of one year from closing of the Private Placement.
A finder’s fee will be paid in connection with the Private Placement.
Proceeds from the Private Placement will be used to fund ongoing exploration and development plans for the Seel and Ox Lake properties.
All securities issued in connection with the Private Placement will be subject to a minimum four month hold period. The Private Placement is subject to the approval of the TSX Venture Exchange.
About Gold Reach:
Gold Reach Resources is a Canadian exploration company actively involved in the development of the Seel and Ox Lake projects , a 17,149.5 hectare copper-gold-molybdenum-silver project located 120 kilometres south of Houston, BC and eight kilometres east of the producing copper-molybdenum Huckleberry Mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, President
For further information, please contact: