Brandon Gold: Private Placement Completed/Drill Program Update.VANCOUVER, British Columbia--(BUSINESS WIRE)--May 11, 1998-- Brandon Gold Corpora corpora plural form of corpus. corpora albicantia see corpus albicans. corpora arenacea sandy or gritty bodies, found in the pineal body; appear to be of glial or stromal origin; have the structure of (VSE See DOS/VSE. VSE - Virtual Storage Extended :BG.) Brandon Gold Corporation (BG.V) is pleased to announce the completion of the non-brokered private placement of 1,600,000 units at a price of $1.00 each for a total of $1,600,000. Each unit consists of one common share and one non- transferable share purchase warrant. Each warrant will entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: the holder to buy an additional share in the capital of the Company for a period of one year at a price of $1.00. In addition, 107,500 shares were issued with respect to the payment of the finders fee. The units sold in the private placement as well as the shares issued for the finders fee are subject to a 4 month hold period which will have expired by August 29, 1998. The proceeds from this private placement will be used for working capital and exploration on the Company's 1,400 square kilometer property package in Sweden. Brandon has commenced diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral on the western property block known as Kiruna with two drill rigs. One of the rigs is concentrating on the airborne and ground geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. targets on Lake Vittankijarvi. The other has been moved to a western anomaly called Lulip Borri where grab samples Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible sample - a small part of something intended as representative of the whole on strike have yielded grades of up to 12.4 percent copper, 3.1 grams per tonne gold and 30 grams per tonne silver. A third rig has recently been mobilized and has commenced drilling, also at Lulip Borri. Brandon has outlined six drill targets for the first 6,000 metres of drilling. An additional four have been established through continuing ground geophysical work at the Kiruna block. Management believes that several more targets will be identified in the coming weeks. Brandon Gold Corporation Scott E. Angus, President The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release. CONTACT: Brandon Gold Corporation Ian MacLean, 604/623-4707 e-mail: imaclean@nevsun.com |
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