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| | Mon Jun 27, 2005
$30,000 Private Placement Closed, Shebandowan VTEM Airborne Survey Conplete
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| | Hinterland Metals Inc. (TSXV: HMI) ("Hinterland") announces that it has closed a private placement with five investors for gross proceeds of $30,000 through the issue of 250,000 flow-through shares at $0.12 per flow-through share. The securities described above will be subject to a four-month hold period expiring October 24, 2005. As a result of this private placement, Hinterland will have 21,392,358 issued and outstanding common shares.
The proceeds of this financing will be used for exploration of the Wedge and Shabaqua properties, which form a contiguous block roughly 40 km2 in area within the Shebandowan Greenstone Belt of Northwestern Ontario. The properties were originally staked for their gold potential, but considering the strength of Freewest Resources Canada Inc.'s Sungold base metal discovery, located approximately 65 km to the southwest, Hinterland is re-evaluating them for their VMS-type copper-zinc potential. To this end, Geotech Ltd. was engaged to fly 470 km of magnetic and VTEM time domain electromagnetic surveys over the project area in order to identify VMS-type exploration targets. The survey was completed in mid-June and Hinterland is waiting to receive preliminary results. Geotech has informed Hinterland that final results of the survey will be available in mid-July.
Mark Fekete, P.Geo. is the designated "qualified person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the preparation of this release.
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For more information please contact:
Mark Fekete, President at Toll Free 1-877-874-8182
E-mail: info@hinterlandmetals.com
Website: www.hinterlandmetals.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Hinterland relies on litigation protection for "forward-looking" statements. |
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