Barker Minerals Ltd.: Adds Mineral Claims to Kangaroo Gold Project and Closes Financing
Tuesday February 10, 3:13 pm ET
VANCOUVER, BRITISH COLUMBIA--Barker Minerals Ltd. (BML - TSX/V) announced that it issued 492,800 units at $0.25 per unit for gross proceeds of $112,000 pursuant to a non-brokered private placement. Each unit consisted of one common share of Barker and one-half of a common share purchase warrant and each whole warrant is exercisable into one common share for a two year term at a price of $0.35 per share in the first year and $0.45 per share in the second year. The common shares and warrants issued are subject to hold periods that expire on June 5, 2004. A total of $11,200 was paid to a finder in connection with the placement.
The Company is also pleased to report the acquisition of an additional 77 mineral claim units by way of staking in the Cariboo Mining District B.C., Canada, which are comprised of 4,756 acres or 1,925 hectares and are contiguous to the Company's Kanagroo Gold Project.
Over the past ten years Barker Minerals has acquired and advanced exploration on its over 265,000 acres of mineral properties in the Cariboo Mining District, which is located along the Cariboo Gold District, one of the most mineralized belts in British Columbia. The company has 17 projects at various stages of the exploration process, with 5 projects having defined drill-ready gold targets and precious metal bearing, massive sulphide targets on its 100% owned properties.
Contact:
Barker Minerals Ltd.
Louis E. Doyle
Phone: (604) 530-8752
Fax: (604) 530-8751
Email: barker@telus.net
Website: www.barkerminerals.com
