New Carolin Gold Corp. (TSX.V:LAD) is a Canadian junior-stage exploration and mine development company engaged in the evaluation and development of several gold properties collectively known as the "Ladner Gold Project". These properties are located in Southwestern British Columbia, Canada.

 

 

Latest News Release

New Carolin Gold Corp. Arranges Financing For Phase 2 Work Program, Advancing Past-Producer with Multi-Million Oz Gold Potential 150km East of Vancouver

NEW YORK, NY, November 4,  2016 /Sector Newswire/ -- New Carolin Gold Corp. (TSX VENTURE: LAD) (OTC: LADFF) (Frankfurt: 29N) this week announced  that it has arranged financing for proceeds of up to $1,100,000 (the "Offering") by way of the private placement. Proceeds will be used for a Phase 2 Work Program at its 100%-owned Ladner Gold Project, located only 150 km (2 hours) East of Vancouver, BC, Canada, in the Coquihalla Gold Belt. Phase 2 will focus on an underground exploration and drilling program expected to commence before yearend. The following image and table taken from the Company's geo model found on its website is expected to be a primary area of focus and expected to bring the following values seen in the table into resource, note the impressive consistent grades and widths (e.g. 60.53 m of 2.79 g/T, 68.9 m of 2.26 /T, 62.3 m of 4.47 g/T):
 

http://sectornewswire.com/images/LADmidpicc.jpg
 

New Carolin Gold's Ladner gold Project hosts 5 past producing mines and a high-grade underground historic (non 43-101) resource* at the Carolin Mine of 728,429 gold ounces (affirmed by past operator Century Mining's 2009 estimate of potential quantity: 5+ million tonnes grading 4.2 - 4.8 g/t gold, or ~1 million tonnes grading 8 - 9 g/t gold) -- the Company currently has resources on the property of ~714,000 ounces gold (although lower grade until confirmation drilling and other related work is performed). 

 

Sector Newswire has identified the following research links for additional DD on New Carolin Gold Corp.:

November 4, 2016 news release from New Carolin Gold Corp:

New Carolin Gold Arranges Financing For Phase 2 Work Program

 

November 4, 2016 -- New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD / OTCBB: LADFF) is pleased to announce that it has arranged financing for proceeds of up to $1,100,000 (the "Offering") by way of the private placement of up to 13,750,000 flow-through common shares (the "FT Shares") in the capital stock of the Company at a price of $0.08 per FT Share. Each FT Share will be designated as a flow-through share pursuant to the Income Tax Act (Canada). Note that there is no Warrant attached to this financing.

 

The proceeds from this offering will be used to fund qualified Canadian Exploration Expenditures (CEE) work on the Company's Ladner Gold Project in southwestern British Columbia. The Company recently completed a Phase 1 exploration program and is now preparing for Phase 2, which will focus on an underground exploration and drilling program expected to commence before yearend. Assays from the Phase 1 drill program will be released along with details of the Phase 2 work program in the coming weeks.

 

Closing of a minimum $500,000 first tranche is expected to occur on or about November 8, 2016, with completion of the balance of the Offering to occur in a second tranche near the end of November, subject to the receipt of all necessary corporate and regulatory approvals, including that of the TSX Venture Exchange. Finder's fees may be paid on portions of the Offering in accordance with TSX Venture Exchange regulations. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.

 

Mr. R. Bob Singh, P.Geo, Exploration Manager, is the qualified person responsible for the technical content of this news release.

 

About New Carolin Gold

 

New Carolin Gold Corp. is a Canadian-based brownfields development company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants collectively known as the Ladner Gold Project. The Company is currently executing exploration programs on the property which is located 2 hours by freeway from Vancouver near Hope, British Columbia, in the prospective and under-explored Coquihalla Gold Belt. The Company has an existing mine permit, water licenses and tailings facility in place, as well as 10.5 kilometers of underground tunnels for exploration access. The Company's Ladner Gold Project is host to several historic gold producers, including the Carolin Mine, Emancipation Mine, Arum Mine, Ward Mine, and Pipestem Mine, in addition to numerous artisan workings and gold prospects that typically exploit high grade visible gold mineralization.

 

For additional information, please visit the Company's website at www.newcarolingold.com.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

"Robert L. Thast"

President & Chief Executive Officer

Phone: 604.542.9458

Cell: 604.220.5031

E-mail: ceo@newcarolingold.com

 

Web site: www.newcarolingold.com

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

 

 

Legal Notice / Disclaimer

 

This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.

 

Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.

 

Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.

 

Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.


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