Lago Dourado Minerals Ltd.
TSX VENTURE : LDM

Lago Dourado Minerals Ltd.

June 28, 2011 15:10 ET

Lago Dourado Minerals Ltd. Announces Private Placement Amendment

TORONTO, ONTARIO--(Marketwire - June 28, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Lago Dourado Resources Ltd. (TSX VENTURE:LDM) ("Lago Dourado" or the "Company") announces that it amended the terms of its previously announced non-brokered private (the "Offering"), such that Lago Dourado now proposes to issue up to10,000,000 units ("Units") at a price of $0.55 per Unit, to raise aggregate gross proceeds of up to $5,500,000. Each Unit will consist of one common share and one-half of one share purchase warrant of Lago Dourado, each whole such share purchase warrant entitling the holder thereof to acquire one additional common share of Lago Dourado for a period of 18 months at an exercise price of $0.70 per share.

All other terms of the Offering remain the same as set forth in the previous press release of the Company dated June 16, 2011. The Offering remains subject to the approval of the TSX Venture Exchange.

About the Company:

Lago Dourado Minerals Ltd. is a Canadian mineral exploration company focused on advancing its 100%-owned Juruena gold project in the state of Mato Grosso, Brazil. Extensive gold mineralization has been identified, and at least 0.5 million oz of gold has been mined from surface workings, over 10 square kilometres of the property, which remains largely untested. An expanded phase I drill campaign (18,000 metres) is currently underway and is expected to continue throughout 2011. The Company currently has 62.1 million shares outstanding.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Lago Dourado, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

NEITHER THE 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.

Contact Information

  • Lago Dourado Resources Ltd.
    Forbes Gemmell
    President and Chief Executive Officer
    (416) 368-5005

    Lago Dourado Resources Ltd.
    Natasha Blackburn
    Corporate Development
    (416) 368-5005
    investor@lagodourado.com
    www.lagodourado.com