Blue Pearl Mining Ltd.
TSX : BLE
TSX : BLE.WT

Blue Pearl Mining Ltd.

January 12, 2006 17:29 ET

Blue Pearl Arranges Private Placement

TORONTO, ONTARIO--(CCNMatthews - Jan. 12, 2006) - Blue Pearl Mining (TSX:BLE)(TSX:BLE.WT)(FRANKFURT:A6R) is pleased to announce that it has arranged a private placement of 500,000 Units with Berner & Company Inc. at a price of $0.80 per Unit.

Each Unit of the private placement comprises one common share, one "A" warrant and 0.4 of one "B" warrant. Each whole "A" warrant entitles the holder to purchase one common share at a price of $1.00 and each whole "B" warrant entitles the holder to purchase one common share at a price of $0.80 for two years from the closing of the private placement. The private placement is expected to close within 45 days, subject to acceptance for filing by the Toronto Stock Exchange.

Blue Pearl is a Canadian mineral resource company focused on developing the Davidson molybdenum deposit near Smithers, B.C.

Shares outstanding: 43,069,382

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

Contact Information

  • Blue Pearl Mining Ltd.
    Ian McDonald
    Chairman & CEO
    (416) 860-1438, toll free: 1 (800) 827-0992
    or
    Blue Pearl Mining Ltd.
    Jim Borland
    Investor Relations Director
    (416) 860-1438, toll free: 1 (800) 827-0992
    or
    Renmark Financial Communications Inc.
    Christina Lalli
    (514) 939-3989
    clalli@renmarkfinancial.com