Buck Lake Ventures Ltd.: Endeavour Flow-Through Limited Partnership 2003 Financing.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 16, 2003 Buck Lake Ventures Ltd. ("BUC BUC Block Up Converter (satellite component) Buc Buchnera BUC Business Unit Controller BUC Chief Builder (Naval Rating) BUC Blessed/Uncursed/Cursed (NetHack) ") is very pleased to announce that it has agreed to terms with Endeavour Flow-Through Limited Partnership 2003 of Vancouver, BC and certain private investors for the private placement of 2,500,000 flow-through units of BUC at a price of $0.10 per unit, for total proceeds of $250,000 to BUC. Each unit will be comprised of one flow-through common share and one non-transferable share purchase warrant, with each such share purchase warrant, entitling the holder to acquire one additional common share at a price of $0.12 per share for a period of two years from the closing of the private placement. A finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. of $14,676.00 in units of BUC securities is payable to Strand Securities Corporation. The proceeds of the flow-through private placement are intended to be used for exploration and development of BUC's mineral exploration properties primarily in northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it including its Buck Lake Platinum, Palladium, Nickel project The Nickel Project is a nickname for a transportation funding package enacted by the 2003 Washington State Legislature. The slogan for the package is "It’s your Nickel, Watch it Work." The $3. . BUC has made substantial exploration progress on the platinum, palladium and nickel discovery on its Buck Lake project located approximately 25 km west of North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Palladium's Lac Des Iles Palladium Mine. Significant high grade nickel and palladium values and high grade platinum values were obtained from a blasting and sampling program on a trench in an area referred to as the Main Discovery Area. The blasting and sampling program was initiated at the recommendation of, and undertaken by, BUC's independent consulting geologists to expose 'fresh' unweathered samples of bedrock to give a representative analysis of the platinum/palladium and other Platinum Group The platinum group (alternatively, the platinum group metals or platinum metals) is a collective name sometimes used for six metallic elements clustered together in the periodic table. Elements (PGE PGE Pacific Gas and Electric Company PGE Portland General Electric PGE Prostaglandin E PGE Platinum Group Elements PGE Pacific Great Eastern (Railroad) PGE Phenyl Glycidyl Ether PGE Perfect Girl Evolution ), in addition to copper and nickel, contained within the rock below the weathered surface rocks. Following blasting, BUC's consulting geologists took samples of pyroxenite pyroxenite Dark medium- to coarse-grained igneous rock that consists chiefly of pyroxene. Accessory minerals include hornblende, biotite, or olivine. Pyroxenites are not abundant. from the exposed bedrock. One of the samples of pyroxenite taken from the bedrock assayed 31.6 grams per ton Palladium, 2.82 grams per ton Platinum, 1.53% Copper and 9.96% Nickel. A number of drill targets have been identified and are ready for immediate drilling. In addition, BUC holds interest in several other exploration properties in Ontario including the Gwyn Gold Property in Northern Ontario. In addition, BUC is also pleased to announce that it has agreed to a $700,000 private placement of its securities which will consist of the sale of up to 7,000,000 units at $0.10 per unit. Each unit will consist of one common share and one two-year non-transferable share purchase warrant with each such share purchase warrant entitling the holder to purchase one additional common share of BUC at an exercise price of $0.12 per share. The proceeds will be used for general corporate purposes. A finder's fee in cash will be payable with respect to this private placement. The finder's fee and both private placements are subject to TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. acceptance for filing. BUCK LAKE VENTURES LTD. Raymond Roland, President 12g3-2(b): 82-1669 Standard & Poor's Listed The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. |
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