Gold Reach Resources Ltd. Announces Non-Brokered Flow-Through Private Placement
June 4, 2008
Vancouver, British Columbia: Gold Reach Resources Ltd. (GRH: TSX-V) is pleased to announce a non-brokered flow-through private placement (the “Private Placement”) of 1,000,000 common shares at a price of $0.10 per share, raising aggregate gross proceeds to the Company of $100,000. The common shares will be issued on a flow-through basis under the Income Tax Act (
Proceeds from the Private Placement will be used to fund exploration costs. All shares issued in connection with the Private Placement will be subject to a minimum four month hold period, as well as acceptance by the TSX Venture Exchange.
In addition, the Company announces that it will acquire Abaddon’s 10% of the Seel Property by issuing 1,000,000 shares to Consolidated Abaddon Resources Inc. This would bring the Company’s total interest in the Seel Property to 100%. This transaction is subject to the acceptance by the TSX Venture Exchange.
Subject to regulatory acceptance of the above transactions, the Company will own a 100% interest in the Seel Property, subject to a 2% royalty.
About Gold Reach:
Gold Reach Resources Ltd. 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 kilometers 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:
Gold Reach Resources
Toll Free: 888-500-4587
Safe Harbour Statement: The Company relies upon litigation protection for “forward-looking statements.”
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