Dalradian Resources Inc.
AIM : DALR

August 25, 2016 10:00 ET

Dalradian Announces Exercise of Warrants and Options

FOR:  DALRADIAN RESOURCES INC.
 
TSX SYMBOL:  DNA
AIM SYMBOL:  DALR

August 25, 2016

Dalradian Announces Exercise of Warrants and Options

TORONTO, ONTARIO--(Marketwired - Aug. 25, 2016) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the 
"Company") announces that a total of 864,340 of Dalradian's common share broker purchase warrants originally 
issued on 31 July 2014 (the "July Broker Warrants") were exercised on 6 July 2016 (48,051), 18 July 2016 
(720,187), 28 July 2016 (48,051) and 29 July 2016 (48,051) prior to their expiry on 31 July 2016 at a price of 
C$0.90, resulting in proceeds to the Company of C$777,906. In addition, 90,000 common share purchase warrants 
originally issued on October 7, 2015 (the "October Warrants") were exercised on August 15, 2016 at a price of 
$1.04, for proceeds of $93,600. On August 16, 2016, 26,502 shares were issued as a result of stock option 
exercises by an employee leaving the Company at a range of prices averaging $0.84 (the "Stock Options") using the 
cashless exercise option available under the Company's stock option plan.

The shares issued upon exercise of the July Broker Warrants were admitted for trading on the AIM market of the 
London Stock Exchange as part of the block admission announced on 3 February 2015 ("July Broker Warrant 
Admission").

Application has been be made for 116,502 Common Shares further to the exercise of the October Warrants and the 
Stock Options, which rank pari passu with the existing Common Shares in issue, to be admitted to trading on AIM 
and admission is expected to occur at 8:00am on or around 26 August 2016 (the "October Warrant Admission" and the 
"Stock Option Admission").

Following the July Broker Warrant Admission, the October Warrant Admission and the Stock Option Admission, the 
Company will have in issue 217,965,451 Common Shares. This figure may be used by shareholders as the denominator 
for the calculations by which they will determine if they are required to notify their interest in, or a change to 
their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

About Dalradian Resources Inc.

Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its high-grade 
Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is in the midst of a work 
program in support of a planning (permitting) application for construction of an operating mine at Curraghinalt. 
Components of the program include a feasibility study, an environmental and social impact assessment and 
underground exploration (at least 950 metres of development with associated test stoping). 

In May 2016, Dalradian announced an updated mineral resource estimate for Curraghinalt, including a 109% increase 
in gold ounces contained in the Measured and Indicated categories compared with the 2014 resource. The current 
resource consists of 2.1 million ounces of contained gold in the Measured and Indicated categories (5.61 million 
tonnes at 11.61 g/t) and 2.3 million ounces of contained gold in the Inferred category (7.13 million tonnes at 
10.06 g/t gold). For further information, see the NI 43-101 technical report entitled, "Technical Report for the 
Northern Ireland Gold Project, Northern Ireland", dated June 17, 2016 and prepared by Dr. Jean-Francois Couture, 
PGeo (APGO#0197) and Dr. Oy Leuangthong, PEng (PEO#90563867), both of SRK Consulting (Canada) Inc. and Stacy 
Freudigmann, PEng (APEGBC #33972) of JDS Energy & Mining Inc. 

FORWARD-LOOKING STATEMENTS

This news release contains "forward looking information" which may include, but is not limited to, statements with 
respect to the future financial or operating performance of the Company and its subsidiaries and its mineral 
project, the future price of metals, test work and confirming results from work performed to date, the estimation 
of mineral resources, the realization of mineral resource estimates, the timing and amount of estimated future 
production, costs of production, capital, operating and exploration expenditures, costs and timing of the 
development of new deposits, costs and timing of future exploration, requirements for additional capital, 
government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, 
limitations of insurance coverage, the timing and possible outcome of pending regulatory matters and the 
realization of the expected economics of the Curraghinalt gold deposit. Often, but not always, forward looking 
statements can be identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", 
"scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative 
variations) of such words and phrases, or statements that certain actions, events or results "may", "could", 
"would", "might" or "will" be taken, occur or be achieved. 

Forward looking statements are based on the opinions and estimates of management as of the date such statements 
are made and are based on various assumptions such as the continued political stability in Northern Ireland, that 
permits required for Dalradian's operations will be obtained on a timely basis in order to permit Dalradian to 
proceed on schedule with its planned exploration and development programs, that skilled personnel and contractors 
will be available as Dalradian's operations continue to grow, that the price of gold will be at levels that render 
Dalradian's mineral project economic, that the Company will be able to continue raising the necessary capital to 
finance its operations and realize on mineral resource estimates and current mine plans, that the assumptions 
contained in the Company's Preliminary Economic Assessment are accurate and complete, that results from the infill 
drilling program continue to be positive, that the mineral resource update is positive, that the results of the 
Environmental and Social Impact Assessment and the Feasibility Study will be positive and that a permitting 
application for mine construction will be approved. 

Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the 
actual results, performance or achievements of Dalradian to be materially different from any future results, 
performance or achievements expressed or implied by the forward looking statements. Such factors include, among 
others, general business, economic, competitive, political and social uncertainties; the actual results of current 
and future exploration activities; the actual results of reclamation activities; conclusions of economic 
evaluations; meeting various expected cost estimates; changes in project parameters and/or economic assessments as 
plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the 
risk that actual costs may exceed estimated costs; failure of plant, equipment or processes to operate as 
anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in 
obtaining governmental approvals or financing or in the completion of development or construction activities, as 
well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form. 
Although the Company has attempted to identify important factors that could cause actual actions, events or 
results to differ materially from those described in forward looking statements, there may be other factors that 
cause actions, events or results to differ from those anticipated, estimated or intended. Forward looking 
statements contained herein are made as of the date of this news release and the Company disclaims any obligation 
to update any forward looking statements, whether as a result of new information, future events or results, except 
as may be required by applicable securities laws. There can be no assurance that forward looking statements will 
prove to be accurate, as actual results and future events could differ materially from those anticipated in such 
statements. Accordingly, readers should not place undue reliance on forward looking statements.

FOR FURTHER INFORMATION PLEASE CONTACT:

Marla Gale
Vice President Communications
+1 416 583 5622
investor@dalradian.com

Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat / Harrison Clarke
+44 (0)20 7383 5100

Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 20 7523 8000

Contact Information

  • Dalradian Resources Inc.