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January 01, 2015 --- Vol. 09, No. 01January 2015

Nunavut

FINANCE – Peregrine Diamonds Ltd. Dec. 30 reported the closing of a non-brokered private placement of 10,441,189 common shares at a price of C21 cents per share for gross proceeds of $2,192,649. The common shares were sold on a flow-through basis pursuant to the Income Tax Act (Canada) and purchased by institutional investors and certain directors of the company. Peregrine paid a cash finder’s fee of C$128,971 in connection with proceeds from placees introduced by Secutor Capital Management Corp. Proceeds from the financing will be used for Peregrine's mineral exploration projects in Canada. Peregrine is a diamond exploration and development company focused on Canada’s North, including its Chidliak diamond project in Nunavut.

PROSPECTING – Seventy-five Nunavummiut recently learned how to find valuable minerals on the land, according to a Dec. 23 report from the Government of Nunavut. They are the most recent graduates of the territory’s “Introduction to Prospecting” course, which was offered in eight communities this summer including Cambridge Bay, Chesterfield Inlet, Coral Harbour, Gjoa Haven, Hall Beach, Repulse Bay, Sanikiluaq and Whale Cove. Taking the course allows students to apply for up to C$8,000 from the Government of Nunavut to complete a prospecting project. The course focused on a variety of lessons including: rock and mineral identification, ore samples and laboratory results, and map reading and claim staking. As part of the program, students learned how to collect interesting rock samples and send them to a laboratory for analysis. The students received free prospecting equipment and also were taught how to pan for gold and heavy minerals. Courses for 2015 are scheduled to start in June in Kugluktuk, Kugaaruk, Arctic Bay, Cape Dorset, Baker Lake, Rankin Inlet, Pangnirtung and Qikiqtarjuaq. Department of Economic Development and Transportation staff in both the Cambridge Bay and Arviat offices will deliver the courses. Nine hundred people have taken the popular course since 1999. For more information about the prospecting courses or funding a project, call toll-free 1-888-975-5999, and ask for Hugh MacIsaac, Mike Beauregard, Hugh Nateela or Harry Maksagak. More details about the Nunavut Prospectors Program can be found at http://gov.nu.ca/programs-services/nunavut-prospectors-program.


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