Everton Resources Inc.
TSX VENTURE : EVR
FRANKFURT : ERV
OTCQX : EVRRF

Everton Resources Inc.

December 05, 2013 08:29 ET

Everton Announces a Proposed Financing for Up to $3 Million

OTTAWA, ONTARIO--(Marketwired - Dec. 5, 2013) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE:EVR)(FRANKFURT:ERV)(OTCQX:EVRRF) is pleased to announce that it is arranging a non-brokered private placement of up to 36,363,636 "flow-through" common shares at an issue price of $0.055 per share and up to 20,000,000 units at an issue price of $0.05 per unit, for aggregate maximum gross proceeds to Everton of up to $3,000,000.

Each unit will be comprised of one common share and of one-half (1/2) of a common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of Everton, at a price of $0.10 per share, for a period of 18 months following the closing of the private placement.

Pursuant to the National Instrument 45-102 Resale of Securities, the securities to be issued pursuant to the private placement will be subject to a four-month "hold period". Closing is anticipated on or about December 27, 2013.

The Company will pay finder's fees consisting of a cash fee equal to 7% of the gross proceeds raised pursuant to the private placement and will also issue non-transferable warrants equal to 8% of the total number of the flow-through common shares and units sold under the private placement. Each warrant will entitle the holder to purchase one unit of the Company at a price of $0.05 per unit for a period of 18 months following the closing of the private placement. The units issued upon the exercise, if any, of the finder's warrants shall have the same terms and conditions as the units issued to subscribers pursuant to the private placement. Marquest Capital Markets and PowerOne Capital Markets Limited will act as the finders in connection with the financing.

The aggregate proceeds raised from the issuance of the "flow-through" common shares will be used to incur Canadian Exploration Expenses on the Company's properties located in the Province of Quebec.

The private placement is subject to regulatory approval, including that of the TSX Venture Exchange.

About Everton Resources Inc.

Everton is actively exploring in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world's two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company (formerly Aurizon Mines Ltd.) which is advancing Everton's interest by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit.

For further information on Everton Resources Inc. please visit www.evertonresources.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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