Fjordland Exploration Inc.
TSX VENTURE : FEX

Fjordland Exploration Inc.

July 05, 2011 18:28 ET

Fjordland to Raise up to $1.5 Million in Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 5, 2011) - Fjordland Exploration Inc. (TSX VENTURE:FEX) announces it intends to raise up to $1,500,000 to finance exploration at the Company's projects in Canada and for general working capital. The capital raise will consist of a non-brokered private placement of flow-through units ("FT Units") and non flow-through units ("Units").

The FT Units will comprise up to 4,350,000 FT Units at $0.23 per FT Unit. Each FT Unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share at a price of $0.23 for one year following the closing.

The Units will comprise up to 2,775,000 Units at $0.18 per Unit. Each Unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one common share at a price of $0.23 for one year following the closing.

Finder's fees of 6% of the FT Units and Units sold may be payable in cash or common shares on a portion of the financing. The private placement is subject to regulatory approval.

About Fjordland Exploration Inc.

Fjordland Exploration is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia. Of the 28 properties Fjordland owns, the Woodjam North and Woodjam South properties (totaling 56,150 ha) are part of the Woodjam Joint Venture between Fjordland (60%) and Cariboo Rose Resources Ltd (40%); both properties are under separate option agreements to Gold Fields Horsefly Exploration Corporation. Fjordland also has a 100% interest in 7 properties known as "Tak" totaling 52,342 ha in the Woodjam area. Fjordland has a 100% interest in the 2,192 ha "Milligan" project, adjoining Thompson Creek Metals Company Inc.'s Mt. Milligan copper-gold deposits on the west. The Tak-Milligan properties have been optioned to Capstone Mining Corp. Fjordland and Serengeti Resources Inc. are 38%/62% partners exploring 12 properties (QUEST Project) totaling 56,670 ha in the Quesnel terrane north of Woodjam for precious and base metals. Fjordland has a 100% interest in 8 properties totaling 60,047 ha in the Iron Range area and has an option agreement on 7 properties totaling 21,222 ha with Kootenay Gold Inc. in southeastern BC. Fjordland's shares trade on the TSX Venture Exchange under the symbol "FEX". For more information visit Fjordland's website at www.fjordlandex.com.

Tom Schroeter, President & CEO

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

Contact Information

  • Fjordland Exploration Inc.
    John Gomez
    Investor Relations
    604-893-8365
    604-669-8336 (FAX)
    www.fjordlandex.com