Goldstrike Resources Ltd.

Goldstrike Resources Ltd.

December 16, 2011 19:10 ET

Goldstrike Announces Subscriptions Totaling $1,450,800

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2011) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINKSHEETS:APRAF)(FRANKFURT:KCG1) announced on November 11, 2011 that Aberdeen Gould Capital Markets Ltd. (the "EMD") was arranging a financing for the Company by way of non-brokered private placement. Goldstrike is pleased to report that the EMD has arranged subscriptions to raise gross proceeds totaling $1,450,800 from the sale of 2,418,000 common shares at the price of $0.60 per share, of which 2,318,000 shares will be flow-through shares for the purposes of the Income Tax Act (Canada) and the remaining 100,000 shares will be non-flow-through shares.

The Company has agreed to pay the EMD and its selling group, in the aggregate and as permitted under the policies of the TSX Venture Exchange, 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 a portion of the flow-through and non-flow-through shares issued by the Company pursuant to the offering. Each finder's warrant will be exercisable for two years after closing to purchase one common share for $0.60.

The proposed changes to the terms of the private placement from those announced on November 11, 2011 are subject to TSX Venture Exchange acceptance. All shares issued pursuant to the offering, and any shares issued pursuant to the exercise of finders' warrants, will be subject to a four-month hold period from the closing date. The proceeds from the flow-through portion of the offering will be used for exploration of the Company's Yukon mineral properties. The proceeds from the non-flow-through portion of the offering will be used 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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