Goldstrike Resources Ltd.

Goldstrike Resources Ltd.

November 11, 2011 16:48 ET

Goldstrike Announces Private Placement to Raise Up to $5,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2011) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINK SHEETS:APRAF)(FRANKFURT:KCG1) has retained the services of Aberdeen Gould Capital Markets Ltd., an Exempt Market Dealer (the "EMD"), to arrange a non-brokered private placement to raise gross proceeds of up to $3,000,000 from the sale of non-flow-through common shares at the price of $0.60 per share and up to an additional $2,000,000 from the sale of flow-through common shares at the price of $0.70 per share. Purchasers of flow-through shares will be obligated to purchase three non-flow-through shares for each two flow-through shares purchased, for a blended cost of $0.64 per share.

The Company has agreed to pay the EMD a cash finder's fee equal to 6% of the gross proceeds from the offering and, in addition, to issue finder's warrants exercisable to purchase that number of non-flow-through common shares which is equal to 6% of the total number of flow-through and non-flow-through shares issued by the Company pursuant to the offering. The finder's warrants relating to the non-flow-through shares will be exercisable for two years after closing at the price of $0.60. The finder's warrants relating to the flow-through shares will be exercisable for two years after closing at the price of $0.70.

The proposed private placement and finder's fees are subject to TSX Venture Exchange acceptance. All shares issued pursuant to the offerings will be subject to a four-month hold period from the closing date. The proceeds from the offerings will be used for exploration of the Company's Yukon mineral properties and the acquisition of additional assets, and for general working capital.

Goldstrike is a well-financed mineral exploration company with multiple discrete exploration projects in the Yukon. For more detailed information on these properties and the Company, refer to Goldstrike's web site at


Reimar Koch, President

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

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