Tango Gold Announces Private Placement Financing and Topacio Update

Tango Gold Mines Incorporated (TSX VENTURE:TGV) (the "Company" or "TGV")
announces a project development plan update and that it intends to proceed with
a non-brokered private placement offering of up to 20,000,000 common shares at a
price of CAD $0.05 per share for gross proceeds of up to CAD $1,000,000. The
securities to be issued will be subject to a twelve-month resale restriction.


Topacio Project Development Plan Update

The Company continues to work with JDS Energy and Mining Inc. (JDS) to complete
an evaluation, development and execution plan that included the shipment of
samples in July 2013 totalling 270 kilograms from the Topacio and Mico veins to
SGS Canada Inc. and Met-Solve Laboratories Inc., Vancouver, British Columbia to
conduct preliminary economic assessment level (PEA) metallurgical test work.
This completion of this work is critical for the success of advancing the
project. Results of this test work are expected in November and will include
grinding characteristics, gravity, leaching and flotation test work. The Company
is pleased with the progress that JDS has made to advance the Topacio Project
toward the development phase and the Mico Vein trench results (see news release
dated 31 May 2013) confirm the resource expansion and exploration potential. The
evaluation, development and execution plan being developed by JDS will be
completed when final metallurgical test results are available.


The net proceeds of the private placement will be used to, among other things,
to develop Company's projects in Nicaragua and for general working capital and
corporate purposes. The Company may pay a finder's fee in connection with the
private placement. Completion of the offering is subject to all required
regulatory approvals, including the acceptance of the TSX Venture Exchange.


About Tango Gold Mines Incorporated 

Tango Gold Mines Incorporated is a Canadian company engaged in the exploration
and development of two principal precious metal properties in the Republic of
Nicaragua. 




--  Topacio - TGV has the right to acquire a 100% interest in the 9,300
    hectare (ha) Topacio concession in south-central Nicaragua, net a 3%
    NSR. Topacio is the site of historical underground and open pit gold
    production dating back to the early 1900s and hosts an National
    Instrument 43-101 compliant Inferred Mineral Resource of 2,716,176
    tonnes grading 3.90 grams per tonne (g/t) gold, containing 340,345
    ounces of gold at a cutoff of 1.5 g/t (Clarkson, 9.11.2012). 
--  El Santo - TGV has a 100% interest in the 2,088.8 ha El Santo concession
    located in central Nicaragua, immediately to the south of B2Gold Corp.`s
    La Libertad concession that is host to the La Libertad mine and mill
    complex which is expected to produce in excess of 130,000 ounces of gold
    in 2013. El Santo is believed to host several east-west trending, low
    sulphidation, epithermal quartz vein systems similar to those found on
    the La Libertad concession.



On Behalf of the Board of Directors

Antonio Ponte, Executive Chairman 

Tango Gold Mines Incorporated

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.


This news release may contain forward-looking statements, which relate to future
events or future performance and reflect management's current expectations and
assumptions. Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Readers are cautioned that
these forward looking statements are neither promises nor guarantees, and are
subject to risks and uncertainties that may cause future results to differ
materially from those expected. The presence of gold deposits mentioned nearby
the Company's property is not indicative of the gold mineralization on the
Company's property. All of the forward-looking statements made in this news
release are qualified by these cautionary statements and those in our continuous
disclosure filings available on SEDAR at www.sedar.com. These forward-looking
statements are made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or circumstances save
as required under applicable securities legislation. This news release does not
constitute an offer to sell securities and the Company is not soliciting an
offer to buy securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction. The technical disclosure in this news
release have been approved by Terry L. Tucker, P.Geo., Technical Director of the
Company and a Qualified Person as defined by National Instrument 43-101 of the
Canadian Securities Administrators. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tango Gold Mines Incorporated
ponte@tangogoldmines.com
Tango Mining (TSXV:TGV)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024