MONTREAL, QUEBEC--(Marketwired - Oct. 3, 2013) - DIOS EXPLORATION INC. (DOS) (TSX VENTURE:DOS) completed today a non-brokered private placement with accredited investors consisting of 900,000 flow-through shares for gross proceeds of $90,000 with share price at $0.10, as reported on September 5. Directors and officers of DIOS participated in the Private Placement for an amount of $75,000 and pursuant to Regulation 61-101 respecting protection of minority security holders in special transactions, such a transaction constitutes a "related party transaction". However, the transaction is exempt from the valuation and minority shareholder approval requirements pursuant to the exemptions set out in subsection 5.5 (a) and 5.7(1)(a) of Regulation 61-101, as the aggregate consideration does not exceed 25% of DIOS' market capitalization. A material change report has not been filed 21 days prior to the closing of the Private Placement as the participation had not been established at that time. There will be a hold period of four months and one day on Common Shares issued. This private placement is subject to regulatory approval. DIOS has some 39 million shares outstanding, no debt and the funds necessary to pursue its exploration activities.
Proceeds of this placement will be used on the ongoing diamond drilling program totaling between 1000-1500 meters testing several magnetic lineaments or structures within a gold-silver-copper-bismuth mineralized tonalitic granite on wholly-owned road accessible 33 CARATS gold porphyry project, James Bay, QC.
Some mineralized rock outcrops grade up to 4.93 g/t Au, 6.8 g/t Ag, 0.477% Cu and 14 g/t Bi. Some glacial boulders of metric size are angular, suggesting a proximal source, and they grade up to 7.76 g/t Au, 15.7 g/t Ag, 2 % Cu and 74 g/t Bi.
DIOS discovered last Fall on 33 CARATS these significant outcropping rock values for gold-silver-copper-bismuth, an association typical of gold porphyry deposits. Mineralization within tonalite (disseminated, not vein-hosted) and metal associations suggest potential for a low-grade bulk tonnage porphyry gold deposit, such as in Malartic, Abitibi, Quebec.
The 33 CARATS gold porphyry project is cut through by the 167 road, 8 kilometers NW of the Eastmain gold deposit, some 315 km north of Chibougamau, Quebec. This release was prepared by M.J. Girard, M.Sc. Geo, a 43-101 Qualified Person.
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