Gold-Ore Resources Ltd.
TSX VENTURE : GOZ

Gold-Ore Resources Ltd.

June 18, 2008 09:30 ET

Gold-Ore Announces a Non-Brokered Private Placement for Up to $3,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2008) - Gold-Ore Resources Ltd. (TSX VENTURE:GOZ) announces a non-brokered private placement to raise gross proceeds of up to $3,000,000.

Up to 4,477,600 units will be offered at $0.67 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at a price of $0.90 per share for a period of 24 months from the closing date of the financing.

The Company will pay to arm's length third parties or registered dealers a finders fee of 6% cash and warrants to acquire that number of common shares equal to 5% of the units placed, subject to regulatory approval.

The use of proceeds will be to extend the underground development at the Bjorkdal Gold Mine in Sweden, advance the newly acquired Norrliden Project, explore the near-by Ronnberget Property and general corporate expenses.

Bjorkdal property information is posted on the Company's web site at www.goldoreresources.com.

ON BEHALF OF THE BOARD

Glen Dickson, Chairman

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

News Release 08-10

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Gold-Ore Resources Ltd.
    Glen Dickson
    (604) 687-8884
    or
    Gold-Ore Resources Ltd.
    Robert Wasylyshyn
    (604) 687-8884
    or
    Gold-Ore Resources Ltd.
    Ron Ewing
    (604) 687-8884
    Website: www.goldoreresources.com