Nevada Sunrise Gold Corp
TSX VENTURE : NEV

June 21, 2011 13:44 ET

Nevada Sunrise Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2011) - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSX VENTURE:NEV) has arranged a non-brokered private placement (the "Offering") consisting of up to 15,000,000 units (the "Units") at a price of $0.05 per Unit, for aggregate gross proceeds of up to $750,000 CDN. Each Unit consists of one common share (a "Share") and one-half common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase an additional common share (a "Warrant Share") at a price of $0.10 for a period of 18 months from the date of issuance. In connection with the offering, a finder's fee equal to 8% of the proceeds from the sale of the units and warrants entitling the holder to purchase such number of common shares as is equal to 10% of the number units sold, at a price of $0.10 per common share, for a period of 18 months from closing.

The Offering is subject to approval of the TSX Venture Exchange.

Proceeds from the Offering will be used to fund the exploration of the Company's North-American resource properties and as general working capital.

About Nevada Sunrise

Nevada Sunrise Gold Corp. is a gold exploration company that has a portfolio of three projects in Nevada. The Company controls about 15,200 acres (6,150 hectares). One of the projects, Kinsley Mountain, is in an exploration earn-in joint venture agreement for up to $4.5 million in work commitments. The Company applies the exploration experience and technical skills of its founders to search for and acquire new gold exploration projects that are developed internally and then offered for joint venture.

For the latest details on the Company, its properties, management team and philosophy, please visit our website at www.nevadasunrise.com.

The Securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.

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

Contact Information

  • Nevada Sunrise Gold Corp.
    William B. Henderson
    President and Chief Executive Officer
    (530) 887-9901
    (530) 884-3822 (FAX)
    www.nevadasunrise.com