Michael Murphy

March 09, 2011 14:37 ET

Michael Murphy Acquires Securities of Rhyolite Resources Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 9, 2011) - Mr. Michael Murphy (the "Offeror"), Suite 1030, 885 West Georgia Street, Vancouver, BC V6C 3H1, announces that he acquired ownership and control of 1,000,000 Common shares (the "Shares") of Rhyolite Resources Ltd. (the "Company") from the exercise of warrants (the "Warrants") at the price of $0.32 each. The Shares represent approximately 7.84% of the issued and outstanding common shares of the Company and were issued from treasury. The Offeror acquired the Warrants from a private placement in the Company on March 10, 2010.

Accordingly, immediately following the transaction described above, the Offeror owns an aggregate of 2,000,000 Common shares, representing approximately 15.68% of the issued and outstanding common shares of the Company.

This transaction was effected for investment purposes and the Offeror could increase or decrease his investments in the Company at any time, or continue to maintain his current investment position, depending on market conditions or any other relevant factor.

Additional Information

A copy of the applicable securities report filed in connection with the matters set forth above may be obtained by contacting:

Mr. Michael Murphy
Tel: 604-681-8347

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

  • Mr. Michael Murphy
    604-681-8347