TORONTO, ONTARIO--(Marketwire - March 21, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) announces that it has completed a first tranche of its previously announced non-brokered private placement financing by issuing 8,735,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $436,750. Each Unit consists of one common share of the Company and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.10 per common share for a period of 24 months from the date hereof.
Alder intends to close a second tranche of the financing on the same terms on or before April 30, 2013 for total gross proceeds, together with the first tranche, of up to $1,000,000.
In connection with the closing of the first tranche of the financing, the Company will pay cash finders' fees totaling $6,000.
The common shares forming part of the Units and the Warrants will be subject to a four month hold period that expires on July 22, 2013.
The Company intends to use the proceeds from the sale of the Units to fund exploration activities of the Company and for general corporate purposes.
The private placement remains subject to final acceptance by the TSX Venture Exchange.
About Alder Resources Ltd.
Alder is a resource company focused on the development of gold and base metal projects throughout the Americas. Alder's current high priority Cu-Au-Ag porphyry target is the Rosita project in Nicaragua located 275 kilometres northeast of Managua. The company has a current Inferred mineral stockpile resource of 7.95 million tonnes grading 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag with numerous zones that have good near term potential to add to and enhance these resources. See the technical report entitled "Rosita Cu-Au-Ag Project, RAAN, Nicaragua, NI 43-101 Technical Report on Mineral Resource Estimate of Rosita Stockpiles" effective as of May 8, 2012, which is available under the Company's profile at www.sedar.com. Alder is also highly encouraged by recent trench results that, in conjunction with previous drill results from the Tipispan area, support management's belief of a large, untested, copper-gold-silver porphyry/skarn system locally overlain by a high grade, supergene enriched, oxide blanket.
In August 2011, Alder entered into an option agreement to acquire a 65% interest in the Rosita D concession from Calibre Mining Corp. by issuing 1,000,000 shares and incurring expenditures of $4,000,000 over four years. To date Alder has incurred more than half of the $4,000,000 earn-in obligation.
Alder intends to continue to build its property position with strategic acquisitions.
For additional information, please visit our website at www.alderresources.ca and follow us on Facebook and Twitter: @AlderResources.
Joseph Arengi, M. Sc., P. Geo., President and Chief Executive Officer of Alder and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release.
Alder Resources Ltd.
Joseph Arengi, President & CEO
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Company's exploration prospects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Alder to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operations in foreign jurisdictions; ability to successfully integrate the purchased properties; and other risks inherent in the mining industry. Although Alder has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Alder does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THESE 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 SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT"), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, "U.S. PERSONS," AS SUCH TERM IS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT, UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.
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Alder Resources Ltd.