Donner Metals Ltd.
TSX VENTURE : DON
FRANKFURT : D4M

Donner Metals Ltd.

February 15, 2010 09:00 ET

Donner Metals Ltd.: Additional Private Placement Closings

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2010) - Mr. David Patterson, Chairman of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Company has closed private placements totaling $1,073,462.43. The funds were raised by the Company by issuing a total of 2,196,763 flow-through units ("FT Unit") at a price of $0.475 per FT Unit, and 100,000 non-flow through units ("NFT Unit") at a price of $0.30 per NFT Unit.

Each FT Unit consists of one flow-through common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one non-flow-through common share at a price of $0.55 per share. Of the 1,098,382 whole warrants issued, 807,016 are exercisable until February 9, 2011, and 291,366 are exercisable until February 12, 2011. Securities, including any shares which may be issued upon the exercise of warrants, relating to the issuance of the 1,614,032 FT Units and 582,731 FT Units, are subject to a hold period expiring June 10 and June 13, 2010 respectively.

Each NFT Unit consists of one common share and one share purchase warrant exercisable into one common share at a price of $0.45 per share until February 9, 2011. All securities issued to NFT Unit subscribers, including any shares which may be issued upon the exercise of warrants, subject to a hold period expiring June 10, 2010.

The Company has paid commissions of $73,042.37 in association with the issuance of the FT Units.

In addition, further to the Company's news release dated February 2, 2010, the exercise price of incentive stock options granted to certain of its directors, officers, employees, and consultants is $0.30 per share, not the previously reported $0.28 per share.

ON BEHALF OF THE BOARD OF DONNER METALS LTD.

"David Patterson", Chairman

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.

Contact Information