Eskay Mining Corp.
FRANKFURT : 878 985
BERLIN : 878 985

June 23, 2010 08:20 ET

Eskay Mining Increases Flow-Through Offering and Closes Second Tranche of Flow-Through and Working Capital Offering

TORONTO, ONTARIO--(Marketwire - June 23, 2010) - ESKAY MINING CORP. ("Eskay" or the "Corporation") (TSX VENTURE:ESK)(FRANKFURT:878 985)(BERLIN:878 985) wishes to announce that further to its press releases of June 4, 2010 and June 11, 2010, the Corporation is increasing its offering of flow-through units (the "FT Units") by an additional $500,000 to an aggregate of $3,000,000 or 12,000,000 FT Units.

In addition, Eskay also announces that it has completed the sale of a further 416,000 FT Units priced at $0.25 per FT Unit for gross proceeds of $104,000 and the sale of a further 100,000 working capital units (the "WC Units") priced at $0.20 per WC Unit for gross proceeds of $20,000. A cash fee of $1,800 was paid for the FT Units.

All of the securities referred to herein are legended and restricted from trading until at least October 17, 2010.

The current issued and outstanding capital is 83,525,111, after above mentioned issuance of shares.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither 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 release.

Contact Information

  • Eskay Mining Corp.
    Mac Balkam
    President and Director