Dajin Resources Corp.

Dajin Resources Corp.

November 02, 2007 16:34 ET

Dajin Closes $500,000 Private Placement With MineralFields

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2007) - Dajin Resources Corp. ("Dajin") (TSX VENTURE:DJI)(FRANKFURT:C2U) is pleased to announce the completion of a non-brokered private placements for $500,000 with MineralFields Group to fund the exploration of Dajin's mineral properties. The private placement consists of 1,000,000 flow-through units at $0.50 per unit with each flow-through unit consisting of one (1) flow-through common share and one-half (1/2) of one non-flowthrough share purchase warrant exercisable at $0.75 into 500,000 non-flow-through common shares of Dajin on or before October 31, 2008. Dajin has paid a finder's fee of $25,000 and issued 50,000 options which are exercisable at $0.50 per unit on or before October 31, 2008 in respect to this transaction. All securities issued pursuant to this offering have a hold period expiring on March 1, 2008.

About MineralFields, Pathway and First Canadian Securities®

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities® is active in leading resource financings (both flow-through and hard dollar)on competitive, effective and service-friendly terms, with investors both within, and outside of, MineralFields Group.

About Dajin: (www.dajin.ca)

In the Nelson Mining District Dajin holds a 100% interest in 27 mineral claims in the Ymir region, 50 kilometers northeast of the Trail smelter, in south eastern British Columbia. A 15 hole, 3,000 meter drill program is currently underway on the Oxide and Jackpot Deposits at the Oscar Project.

Dajin holds a 100% interest in 29 mineral claims in the Spanish Mountain region adjacent to Skygold Ventures Ltd's (SKV-V) Spanish Mountain Property, a 70/30 Joint Venture agreement with Hawthorne Gold Corp. (HGC-V) in the Eureka Peak region where Dajin also owns a 100% interest in 20 mineral claims on which an extensive soil sampling program was completed by Dajin in preparation for a future drill program. Both properties are being explored for sediment hosted gold deposits.

Dajin holds a Joint Venture agreement with Cariboo Rose Resources Ltd. (CRB-V) whereby Dajin has the right to earn a 65% interest in 32 mineral claims in the Horsefly region in the Cariboo Mining District in south central British Columbia where a 9 hole, 1800 meter drill program is currently underway. Earlier this year, NovaGold Resources Inc. (NG-T) completed a drill program on their Shiko Lake claims located west of Dajins' property and adjacent to the Mt. Polley Mine property.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Dajin Resources Corp.
    Brian Findlay
    (604) 681-6151
    Email: brian@dajin.ca
    Dajin Resources Corp.
    Mark Carruthers
    Corporate Communications
    (604) 681-6151
    (604) 689-7654 (FAX)
    Email: mark@dajin.ca
    Website: www.dajin.ca