Goldcliff Resource Corporation
TSX VENTURE : GCN

Goldcliff Resource Corporation

August 04, 2009 17:33 ET

Goldcliff Arranges Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 4, 2009) - George Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN) announces that the Company has arranged two non-brokered private placements for gross proceeds of $750,000. Goldcliff will issue 4,000,000 units at a price of $0.10 per unit for gross proceeds of $400,000. Each unit will consist of one common share and one half common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at a price of $0.15 per share for a period of two years from the date of closing.

The Company will also issue 3,500,000 flow through units at a price of $0.10 per flow through unit for gross proceeds of $350,000. Each flow through unit will consist of one flow through share and one half common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at a price of $0.15 per share for a period of two years from the date of closing.

A finders' fee of 7.5 per cent of gross proceeds payable in units will be issued. The proceeds will be applied to exploration of Goldcliff's 100 per cent owned Panorama Ridge and Ainsworth properties, and to general working capital.

GOLDCLIFF RESOURCE CORPORATION

George W. Sanders, President

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or the accuracy of this news release, gcnnews2905.

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