SOURCE: Sacre-Coeur Minerals, Ltd.

November 13, 2007 03:01 ET

Sacre-Coeur Minerals, Ltd. Receives Additional $5.28 Million From Exercise of Warrants and Options

VANCOUVER, BC--(Marketwire - November 13, 2007) - SACRE-COEUR MINERALS, LTD. (TSX-V: SCM) (FRANKFURT: S5N) (the "Company") announces the receipt of CAD $5,281,440 in aggregate proceeds from exercise of 1,766,890 Share Purchase Warrants and 1,336,000 Share Purchase Options during the period from May 24, 2007 to date. Included were Agent Warrants exercisable at CAD $1.50 and One-Half Share Purchase Warrants exercisable at CAD $2.00 which comprised part of the Units, both of which were issued in connection with the Company's $13.2 Million Initial Public Offering of October 2005. The majority of the funds were received during the past three weeks near the respective expiration dates.

According to Irwin Olian, CEO of the Company, "We are grateful to our shareholder base for the continued support evidenced by the recent warrant and option exercises. They have brought in an aggregate of nearly $5.3 million, effectively creating a further financing for the Company. As a result, we now have a strong cash position of $8.4 million, enough to cover budgeted exploration and development costs on our Guyana portfolio for nearly two years at present levels. In addition, a substantial overhang has now been removed from the market for the Company's shares, which may have contributed to volatility in our share price in the past."

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 www.scminerals.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.

"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.

SACRE-COEUR MINERALS, LTD
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, BC
Canada V6B 4N8

Contact Information

  • For further information, contact:

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

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