FINANCE – Duncastle Gold Corp. July 15 announced plans to raise up to C$500,000 in a non-brokered private placement to fund the acquisition and exploration of platinum group metal-nickel-copper projects in the Kluane Ultramafic Belt of southwestern Yukon. The company also said it has dropped the Porphyry Creek project in order to focus the majority of its corporate and exploration effort on the Yukon assets. Duncastle intends to issue up to 10 million units at a price of C5 cents each. Each unit will consist of one common share and one-half of a purchase warrant, with each whole warrant exercisable to purchase one additional common share at C7.5 cents for a period of three years, subject to an acceleration provision. Proceeds from the placement will fund priority exploration on Duncastle’s projects and working capital. Duncastle’s Yukon PGM-nickel-copper assets include the Catalyst, Ultra and Spy projects which together total over 262 square kilometers (101 square miles) in the Kluane Ultramafic Belt, a 600-kilometer- (375 miles) long sequence of igneous and sedimentary rocks extending from northern British Columbia through the Yukon and into Alaska. Duncastle said a first phase exploration program has been developed to identify and prioritize targets for potential drilling at all three projects, with the intent to drill by the end of the 2014 season. The company said that visits to the property in 2014 have identified other areas for further exploration based on prospecting and surface sampling, which will also be investigated.

GOLD/SILVER – Rockhaven Resources Ltd. July 15 released results for the first eight drill holes from the 2014 program at its Klaza property located in the Dawson Gold Belt of southern Yukon. The 12,000-meter diamond drill program is focused on delineating and expanding areas of high-grade gold and silver mineralization within multiple structural zones that have been identified on the property. Western BRX, a 750-meter long, linear structure hosting high-grade gold and silver veins emplaced in close proximity to a feldspar porphyry dyke is the main target of the 2014 drill program. Highlights from this drilling at Western BRX include: 6.4 grams per metric ton gold and 318 g/t silver over 1.31 meters and 10.6 g/t gold and 32.2 g/t silver over 1.41 meter in Hole 137; 40.5 g/t gold and 536 g/t silver over 0.63 meters in Hole 138; 29.9 g/t gold and 660 g/t silver over 1.10 meters in Hole 141; 6.38 g/t gold and 83.8 g/t silver over 2.39 meters in Hole 142; and 28.9 g/t gold and 669 g/t silver over 1.65 meters in Hole 143. Rockhaven says the systematic infill and step-out diamond drilling at the Western BRX Zone has further confirmed the continuity of the structure while delineating areas of high-grade gold and silver mineralization. “We are very excited to release some of the best results from the property to date, with six intercepts from the first eight drill holes assaying greater than 40 g/t gold-equivalent,” said Rockhaven Resources CEO Matt Turner. “These high-grade results continue to increase our confidence in the continuity and potential of the Western BRX Zone, which was only broadly outlined by previous trenching and drilling programs. Drilling is proceeding ahead of schedule and on budget with 35 holes having been successfully completed at the Western BRX and Western Klaza zones to further evaluate these exceptional targets.”

FINANCE – Kaminak Gold Corp. July 14 reported that Ross Beaty, a noted geologist and entrepreneur, and Zebra Holdings and Investments S.à.r.l., Luxembourg, a company owned by a trust of the late Adolf H. Lundin, has each agreed to invest C$6.76 million, collectively C$13.52 million, into Kaminak by way of a non-brokered private placement. Upon closing of the private placement, Beaty and Zebra Holdings will each own 9.98 percent of Kaminak’s outstanding shares on a partially diluted basis assuming the exercise of warrants purchased. The subscription agreements provide each purchaser the right to nominate one person to Kaminak’s board of directors and a pre-emptive right to participate in any future proposed equity offering of the company in order to maintain its pro rata shareholding, subject to certain exceptions. Pursuant to the private placement, each purchaser will acquire 8.45 million units at C80 cents each. Each unit will consist of one common share and one-half of a purchase warrant. Each warrant will entitle the Purchaser to purchase one additional Kaminak common share at C$1.20 for a period of 12 months from closing. Kaminak President and CEO Eira Thomas said, “Kaminak is very pleased to be welcoming both Ross Beaty and Zebra Holdings as significant new shareholders, at a pivotal time in our company’s history. Kaminak recently completed a preliminary economic assessment for our Coffee Gold Project, which indicates a robust, high margin, rapid pay-back, 11-year, open pit, heap leach project in Canada at current gold prices. The company will now have sufficient funds on hand to undertake a bankable feasibility study and advance the project towards a production decision.” Kaminak reports that its cash position will be approximately C$26.5 million following completion of the private placement.