Goldcliff Resource Corporation
TSX VENTURE : GCN

Goldcliff Resource Corporation

April 30, 2008 12:31 ET

Goldcliff Financings

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - George W. Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN) announces that the Company has arranged two non brokered private placements. One is for flow-through funds and the other is for non flow-through funds.

The flow-through units are of up to 2,700,000 units at a price of $0.35 per unit. Each unit will consist of one flow-through share and one half of a non flow-through share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.55 per common share for a period of one year from closing. All flow-through shares and shares purchased by way of warrant exercise are subject to a four month resale restriction.

Subscribers for this offering are MineralFields Group and 49 North 2008 Resource Flow-Through Limited Partnership. Goldcliff management welcomes the relationship with these two important resource-financing institutions. MineralFields is a repeat investor in Goldcliff and the management and board acknowledge their ongoing support of the Company's exploration projects that include the Panorama Ridge gold project.

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of, MineralFields Group.

In addition, the Company has arranged a non brokered private placement of up to 1,000,000 non flow-through share units at a price of $0.32 per unit. Each unit will consist of one common share and one half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.50 per common share for a period of one year from closing. All common shares and shares purchased by way of warrant exercise are subject to a four month resale restriction.

The proceeds from the flow-through unit offering are for exploration on the Panorama Ridge, Ainsworth and Tulameen projects. The proceeds from the non flow-through unit offering are for general working capital. Goldcliff will pay a cash finders' fee of 6 per cent for any parts of these issues introduced by third parties. The units issued will be subject to regulatory approval and a four month resale restriction.

GOLDCLIFF RESOURCE CORPORATION

George W. Sanders, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release, gcnnews2805.

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