Tartisan Resources Corp. Announcement Regarding Private Placement
Net Proceeds from the Offering will be used to fund exploration of the Company's gold, silver and base metals projects in North-Central Perú, and for working capital purposes. The planned exploration work will include preparation for diamond drilling at La Victoria, the Company's wholly owned flagship project located in northern Ancash Department. Tartisan's land holdings are located within 50 km of several producing mines including: La Arena owned by Rio Alto Mining Ltd., Lagunas Norte (Alto Chicama) owned by Barrick Gold Corporation and Santa Rosa owned by Compañia Minera Aurífera Santa Rosa (COMARSA). Rio Alto has also recently struck a merger deal with Sulliden Gold Corp. Ltd. which should accelerate putting Sulliden's Shahuindo gold deposit, also in the vicinity, into production.
Tartisan has signed a letter agreement with Eloro Resources Ltd. ("Eloro") granting Eloro an option to earn a 50% interest in La Victoria property; this was announced on February 14, 2014. Under the terms of that agreement, Eloro can earn a 50% interest in the Property at Eloro's option by expending $CDN 1.5 million in staged exploration and work expenditures on the Property, and making cash payments to Tartisan totalling $CDN 150,000, all over a four year period. Tartisan and Eloro continue to work toward the execution of the definitive agreement.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Not for distribution to U.S. news wire services or dissemination in the U.S.
Contact
Tartisan Resources Corp.
Mr. D. Mark Appleby, CEO and a Director of the Company
416-804-0280
mark@tartisanresources.com
Mr. Phillip Shum, Investor Relations (Ubika Corp.)
647-352-0687
phillip@ubikacorp.com
Additional information about Tartisan can be found at the Company's website at www.tartisanresources.com.