STLLR Gold Inc (ME)

[NYBob]

MONETA COMPLETES FINANCING
November 10, 2015, Timmins, Ontario - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) (the
“Company”)

http://www.monetaporcupine.com/i/pdf/2015-11-10_NR.pdf

announces the completion of a non-brokered private placement.
The Company issued 10,000,000 units at a price of $0.11 per unit (“Units”) comprised of one common share and
one half of one purchase warrant exercisable at $0.18 per full warrant for twelve months for gross proceeds of
$1,100,000 (the “Placement”). There were no finder’s fees or commissions paid. The Placement is subject to a four
month hold period and regulatory approval. The net proceeds will be used for working capital and general
corporate purposes.
The Company is currently evaluating the potential of a standalone underground mining scenario of the identified
high grade gold within and below the proposed open pit, as reported in the latest Golden Highway Preliminary
Economic Analysis (PEA) and NI 43-101 resource estimate (2012). This standalone underground scenario would
utilize a ramp system and selectively mine the higher grade blocks. It would result in significantly lower upfront
and ongoing capital expenditures, with a reduced surface footprint and environmental impact.
There has been 50,000 metres of primarily in-fill drilling since the (2012) NI 43-101 resource estimate that is
expected to materially improve the category of ounces in the next resource update, irrespective of the mining
approach. The standalone underground provides a potential alternative, and does not preclude or invalidate the
PEA and NI 43-101 resource estimate which proposed a combined open pit and underground mining approach.
Readers are cautioned that the standalone underground mining scenario is not supported by a PEA and this differs
from the existing PEA which assumed a joint open pit and underground mining approach.
About Moneta
Moneta holds a 100% interest in 5 core gold projects strategically located along the Destor Porcupine Fault Zone in
the world class Timmins Camp with over 85 million ounces of past gold production. Moneta’s land position is one
of the largest after three gold producers including the highly prospective Golden Highway Project. The Golden
Highway Project covers 12 kilometers of a highly prospective volcanic/sedimentary belt along the Destor
Porcupine Fault Zone and currently hosts a NI 43-101 resource estimate of 1,091,000 ounces indicated (31.1 Mt at
1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres. The Golden
Highway Project hosts exceptional infrastructure including paved highway access, water, electricity, skilled labor
force, and nearby mills.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Ian C. Peres, President & CEO
416-579-3040 (Toronto)
705-264-2296 (Timmins)
[e-mail]
Moneta’s public documents may be accessed at www.sedar.com. For further information on Moneta, please visit our website at
www.monetaporcupine.com or email us at [e-mail].
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its finan...

http://www.monetaporcupine.com/i/pdf/2015-11-10_NR.pdf
God Bless