Dalradian Resources Inc.

Dalradian Resources Inc.

February 02, 2015 13:38 ET

Dalradian Directors and Officers Exercise Warrants Expiring February 19, 2015

TORONTO, ONTARIO--(Marketwired - Feb. 2, 2015) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces that it was made aware on 1 February 2015 that officers and directors of the Company that were holders, either directly or indirectly, of Dalradian's common share purchase warrants originally issued on February 19, 2014 (TSX:DNA.WT) (the "Warrants") exercised their Warrants on 30 January 2015. The number of Warrants exercised and the total shareholding of each individual following the exercise is shown in the table below.

Insider Number of Warrants Exercised Current Shareholding
(following Warrant exercise)
Current Shareholding
(following Warrant exercise) (%)
Patrick F.N. Anderson, CEO and Director 35,750 3,541,361 2.52%
Sean E.O. Roosen, Director 35,750 1,590,583 1.13%
Thomas Obradovich, Chairman 15,000 121,500 0.09%
Ronald P. Gagel, Director 25,000 175,000 0.12%
Keith D. McKay, CFO 25,000 311,000 0.22%
D. Grenville Thomas, Director 25,000 150,000 0.11%
Total 161,500 5,889,444 4.20%

In addition Dalradian has received notice that further Warrants have been exercised by other holders of Warrants.

Following the exercise of all of the Warrants to date, Dalradian has made an application to admit a total of 208,500 common shares to AIM and Admission is expected to take place on 6 February 2015. Dalradian's issued share capital following these warrant exercises is 140,258,983 common shares.

Dalradian reminds other holders of the Warrants that the deadline for exercising the Warrants is February 19, 2015. Warrant holders are entitled to receive one Dalradian share upon exercise of one Warrant and payment of the exercise price of C$0.90 prior to their expiry. Warrant holders who hold their Warrants in the account of a brokerage firm can instruct their broker to exercise the Warrants on their behalf.

If you are a registered Warrant holder and have questions or require assistance for the exercise of your Warrants, please contact a representative of Valiant Trust at 1 866 313 1872.

About Dalradian

Dalradian Resources Inc. is a Canadian incorporated gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company has commenced a work program with a fully-funded budget of approximately C$30 million and the goal of completing a pre-feasibility study in support of a planning application for construction of an operating mine at Curraghinalt. Components of the program include underground exploration, which incorporates approximately 1,200 metres of development and 20,000 metres of underground drilling, a pre-feasibility study and an environmental impact assessment.


This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, test work and confirming results from work performed to date, estimation of mineral resources 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 state 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 continued political stability in Northern Ireland, that permits required for the Company's operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned development and exploration programs, that skilled personnel and contractors will be available as the Company's operations continue to grow, that the price of gold will be at levels that render the Company'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 that the assumptions contained in the PEA are accurate and complete.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company 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 exploration activities; actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; 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.

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