Bridgeport Ventures Inc.

Bridgeport Ventures Inc.

November 30, 2010 07:00 ET

Bridgeport Ventures Inc. Announces Proposed Equity Financing

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2010) -


Bridgeport Ventures Inc. (TSX:BPV) ("Bridgeport" or the "Company") is pleased to announce that it has engaged a syndicate of agents led by RBC Capital Markets and including MGI Securities Inc. for a proposed marketed offering (the "Offering") of common shares ("Shares") of the Company. Aggregate gross proceeds from the Offering are anticipated to be approximately $15,000,000. The agents will have an option, exercisable for a period of 30 days from the date of closing, to purchase up to 15% in additional Shares at a price equal to the Offering price to cover over-allotments and for market stabilization purposes.

The Shares will be offered by way of a short form prospectus in all of the provinces of Canada except Quebec. A preliminary short form prospectus with respect to the Offering has been filed by Bridgeport by way of SEDAR with the securities regulatory authority in each of the provinces of Canada except Quebec.

Bridgeport intends to use the net proceeds of the Offering to explore its portfolio of 10 Nevada exploration projects, for property acquisitions and for general corporate purposes. Exploration activities at the Company's Nevada projects are expected to include approximately 30,000 meters of drilling in 2011.

Closing of the Offering is subject to certain conditions, including, but not limited to, receipt of all necessary securities regulatory approvals (including the approval of the Toronto Stock Exchange).

The Shares have not been, nor will be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirement of such Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction. Any public offering of securities to be made in the United States would, if made, be made by means of a prospectus that could be obtained from the Company that would contain detailed information about the Company and management as well as financial statements.

About Bridgeport Ventures

Bridgeport Ventures Inc. (TSX:BPV) is a Canadian mineral exploration company with operations in the Americas. Its strong technical team with local experience has a solid record of discovery and a proven history of mining success. Additional information on Bridgeport can be found at:

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Bridgeport, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, depending upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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