VANCOUVER, BRITISH COLUMBIA–(June 1, 2016) – Taku Gold Corp. (CSE:TAK) (“Taku” or the “Company”) announces a non-brokered private placement up to $400,000. These funds will be raised by the Company issuing up to 5,000,000 non-flow-through units at a price of $0.08 per unit, each unit consisting of one common share and one share purchase warrant. One whole warrant will entitle the holder thereof to acquire one additional common share of the Company for a period of two years at a price of $0.12.
Finder’s fees may be payable on a portion of the private placement, in accordance with the policies of the Canadian Securities Exchange.
A portion of the net proceeds of the private placement will be used to further exploration on the Company’s TAG Gold Property in BC and Sulphur Property in Yukon and for general working capital.
TAG Gold Property – Atlin Gold District – British Columbia, Canada
The TAG Gold Property follows a 6.2 km gold-bearing fault that has yielded gold and silver in 67 holes drilled to date. Benefiting from the coastal warming effects of the nearby Pacific, this project provides the company with the flexibility for exploration during the winter months.
Outfitted with a fully winterized camp and over 20 kilometres of drill roads, this project is located on Tagish Lake, allowing barging of equipment and supplies from the Yukon resulting in year-round low cost exploration.
The company plans to undertake a drill program to build on a resource calculation released in 2010.
26 claims (2,429 ha)
Located 35 km due west of Atlin, BC on Taku Arm of Tagish lake
Winterized camp has been built on the property
Over 11,000 metres drilled to date
43-101 Initial Resource Calculation completed
Sulphur – White Gold District – Yukon, Canada
The Sulphur Property (11,344 hectares) straddles Sulphur Creek where there are currently at least four active placer mining operations. Exploration has been operated from Taku’s Dominion Camp located approximately 10km from the property by truck. The Sulphur Creek road provides good access to the property.
Taku has completed a high-definition, airborne magnetic and radiometric geophysical survey on the property, reconnaissance ridge and spur soil sampling, detailed soil sampling, mechanical trenching and limited drilling resulting in five areas prospective for gold mineralization.
Completion of the private placement is subject to the acceptance of the Canadian Securities Exchange.
On Behalf of the Board of Taku Gold Corp.,
Zachery Dingsdale, CEO and President
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.