Manson Creek Resources Ltd.
TSX VENTURE : MCK

Manson Creek Resources Ltd.

June 12, 2008 17:27 ET

Manson Creek Announces First Closing of Private Placement

CALGARY, ALBERTA--(Marketwire - June 12, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Manson Creek Resources Ltd. ('Manson Creek') (TSX VENTURE:MCK) is pleased to announce today that it has completed the first tranche of its previously announced non-brokered private placement. The first tranche raised $300,000 through the issuance of 1,500,000 units ("Common Units") at a price of $0.10 per Common Unit and 1,153,845 flow through shares ("FT Share") at a price of $0.13 per FT Share.

Each Common Unit consisted of one common share and one share purchase warrant. Each warrant entitles the holder to purchase an additional common share at a price of $0.15 per common share until June 12, 2010.

A 7.5% cash finder's fee ($1,125) and a total of 7,500 Broker Warrants exercisable into one common share at a price of $0.13 per share until June 12, 2010 have been issued to registered dealers (equal to 6.5% of the aggregate number of shares purchased by subscribers identified by registered dealers).

Directors and Officers of Manson Creek subscribed for a total of 50,000 Common Units and 884,999 FT Shares. The Units and Shares were offered by way of prospectus and registration exemptions in the provinces of British Columbia and Alberta and all securities issued are subject to a hold period until October 13, 2008.

Manson Creek's key projects for 2008 include the current diamond drilling on the Meridian gold-silver property, detailed exploration on the Molygarchy molybdenum project, and detailed geological work on the Gillman silver-lead-zinc project.

Proceeds of the financing will fund a portion of the 2008 exploration program of Manson Creek and for general working capital purposes.

Regan Chernish, P. Geol., President and Director

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and plans and objectives of Manson Creek Resources Ltd. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Manson Creek Resources Ltd.
    Regan Chernish
    President and Director
    (403) 233-0464
    Website: www.manson.ca