SOURCE: Sacre-Coeur Minerals, Ltd.

August 29, 2008 17:06 ET

Sacre-Coeur Minerals, Ltd. Closes $1.550 Million Private Placement

VANCOUVER, BC--(Marketwire - August 29, 2008) - Sacre-Coeur Minerals, Ltd. (TSX-V: SCM) (FRANKFURT: SSN) (the "Company") is pleased to announce the closing of its previously announced non-brokered private placement which has now raised gross proceeds of CAD $1,550,000. Under the terms of the private placement, the Company has issued 1,000,000 Units (the "Units") at CAD $1.55 per Unit to one single institutional investor.

Each Unit consists of one common share of the Company and one-half of one share purchase warrant (the "Warrants"). Each whole Warrant entitles the subscriber to purchase one additional common share of the Company at an exercise price of CAD $1.75 until August 29, 2010. The Units are subject to a 4-month hold period expiring December 30, 2008.

The Company has paid cash finders' fees of CAD $100,000, representing 6.45% of the aggregate proceeds of the offering.

According to Irwin Olian, CEO of the Company, "We are gratified for the continued support of our strong investor base, even in this rather difficult financial environment. These additional funds will now ensure that we will be able to carry out all of our anticipate exploration programs for the next 18 months on our portfolio."

About Sacre-Coeur

The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 850 square miles of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at


"Irwin Olian"
Irwin Olian
Chairman & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

Contact Information

  • For further information, contact:

    Irwin Olian
    President and CEO
    Email: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Lee Dunston
    Corporate Communications
    Email: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Sacre-Coeur Minerals, Ltd
    Suite 1925, Box 11553
    650 West Georgia Street
    Vancouver, B.C.
    V6B 4N8