Goldcliff Resource Corporation
TSX VENTURE : GCN

Goldcliff Resource Corporation

June 11, 2007 17:10 ET

Goldcliff Increases Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2007) - George W. Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN), is pleased to announce that the Company has increased the amount of the non-brokered flow through unit offering, announced June 5, 2007, from 4,000,000 to up to 5,000,000 units at a price of $0.31 per unit. Each unit comprises one flow-through share and one-half non-flow-through share purchase warrant. One whole share purchase warrant entitles the holder to purchase one common share at a price of $0.50 cents per share for a period of one year from closing. Goldcliff will pay a cash finder's fee of 7.5 per cent for any parts of the issue introduced by third parties. Units issued will be subject to regulatory approval and a four-month resale restriction. Gross proceeds of $1,550,000 will be applied to drilling on the Panorama Ridge gold property, geophysics, geochemistry and prospecting on the Big Sheep Creek uranium and Ainsworth silver and molybdenum properties.

Lead subscribers will be MineralFields Group and Cordilleran 2007 Limited Partnership. Goldcliff management is pleased to be entering into a relationship with these two important resource-financing institutions.

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 its website. First Canadian Securities ® is active in leading resource financings (both flow-through and hard-dollar financings) on competitive, effective and service-friendly terms, with investors both within and outside of MineralFields Group.

GOLDCLIFF RESOURCE CORPORATION

George W. Sanders, President and Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release, gcnnews2711.

Contact Information

  • Goldcliff Resource Corporation
    George W. Sanders
    President and Director
    (250) 764-8879 or Toll Free: 1-866-769-4802
    (604) 261-8994 (FAX)
    Email: info@goldcliff.com
    Website: www.goldcliff.com