BLUE RIVER RESOURCES LTD. 501 – 525 Seymour Street Vancouver, BC V6B 3H7 T: 604.682.7339
NEWS RELEASE
BLUE RIVER RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT
September 26, 2016 - VANCOUVER, Canada – Blue River Resources Ltd. (the “Company”) (BXR: TSX.V) is pleased to announce that it will sell, on a private placement basis, units of the Company at a price of $0.05 per Unit, for gross aggregate proceeds of up to $1,250,000.
Each Unit will be comprised of one common share (a "Share") of the Company and one half share purchase warrant (a "Warrant") of the Company; and each full Warrant will entitle the holder to purchase an additional Share (a "Warrant Share") of the Company for a period of two (2) years following the date of issuance of the Warrants at a price of $0.09 per Warrant Share.
A director of the Company will be purchasing units in the private placement.
The Company reserves the right to pay finder's fees to its agents with respect to the private placement in accordance with and subject to TSXV policies.
The Shares and Warrants issued pursuant to the Private Placement and any Warrant Shares issued on exercise of the Warrants are subject to 4-month resale restrictions.
The proceeds raised from the private placement will be used for the Banlung Gold Project, Cambodia, and for general corporate purposes.
THE BANLUNG GOLD PROJECT, CAMBODIA
The exploration target on the Banlung gold project is a surface gold anomaly measuring approximately 4 square kilometers, called the Okalla West gold anomaly. Within this area is a high gold pan concentrate zone measuring 40 hectares, which is the initial focus of drilling.
600 shallow drill holes have been completed to date, of a total of 1200 holes planned to be drilled over the next 60 days. Drill results will be reported when received.
Blue River initially has the right to participate in up to a 50% interest of the Banlung license from Angkor Gold Corp., after the completion of a total investment of US$3.5 million in exploration expenditures over a 4-year period. Blue River may then exercise their option on an additional 20% interest of the Banlung tenement through the commission and completion of a bankable feasibility study on the property or portion thereof.
ON BEHALF OF THE BOARD BLUE RIVER RESOURCES LTD. /s/ Griffin Jones
Griffin Jones President, Director
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.
