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GOLDRUSH MINING CORP. ANNOUNCES PRIVATE PLACEMENT

 GOLDRUSH MINING CORP. ANNOUNCES PRIVATE PLACEMENT
 VANCOUVER, British Columbia, Aug. 31 /CNW/ - Goldrush Mining


Corp. (the "company") (Vancouver: GDH) announces a private placement with Directors and Officers in the amount of $703,500. The private placement consists of 469,000 units at a price of $1.50 per unit. Each unit is comprised of one common share and one non-transferable warrant, exercisable at a price of $1.50 per share for a period of one year.
 The proceeds from this private placement, which is subject to regulatory acceptance, will be used towards exercising the option to purchase the casino-zoned property in Black Hawk, Colo., which was announced in the news release dated Aug. 8, 1992.
 Goldrush has also recently received $430,250 from the exercise of warrants and options. When the remaining Directors' options are exercised the company will receive a further $384,750 which will bring the total proceeds to $1,518,500. A further private placement will be arranged in the near future.
 -0- 8/31/92
 /CONTACT: James M. Blair, president of Goldrush Mining, 604-922-0370/
 (GDH.) CO: Goldrush Mining Corp. ST: British Columbia IN: MNG SU:


AL -- LA010 -- 4916 08/31/92 11:21 EDT
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Publication:PR Newswire
Date:Aug 31, 1992
Words:198
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