Gold Reach Resources Ltd. Announces A Non-Brokered Private Placement
Vancouver – Tuesday, March 16, 2010 – Gold Reach Resources Ltd. – GRV: TSX.V (“Gold Reach” or the “Company”), is pleased to announce that is has negotiated a non-brokered private placement of up to 1,000,000 Units at a price of $0.25 for total gross proceeds of $250,000. Each Unit will consist of one common share and one share purchase warrant exercisable into an additional common share at a price of $0.40 for a two year period.
The proceeds will be used for exploration expenditures on the Company’s projects and for general working capital. No commission or finder’s fee will be paid in respect of this private placement. The terms of the private placement are subject to acceptance by the TSX Venture Exchange.
About Gold Reach:
Gold Reach Resources Ltd. is a Canadian exploration company actively involved in the exploration of its newly acquired Auro Claims adjacent to Richfield Ventures’ gold discovery in central BC and the development of the Seel and Ox Lake projects, a 20,025 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:
Gold Reach Resources
Toll Free: 888-500-4587
Safe Harbour Statement: The Company relies upon litigation protection for “forward-looking statements.”
Neither the 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.