Pacific Road Resources Funds

October 15, 2010 18:00 ET

Pacific Road Resources Funds Announce Further Investment in Far West Mining Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2010) - The Pacific Road Resources Funds ("PRRF") are pleased to announce that, further to the press release issued by Far West Mining Ltd. (the "Company") on September 21, 2010, PRRF has purchased 2,439,025 units (the "Units") issued by the Company by way of private placement (the "Private Placement") at a price of $4.10 per Unit for gross proceeds to the Company of $10,000,002.50. Each Unit consists of one common share of the Company (each a "Share") and one common share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to purchase one Share for two years at a price of $5.35 per Share for the first year and $5.85 per Share for the second year. The Shares included in the Units purchased by PRRF, together with the Shares for which the Warrants included in such Units are exercisable, represent approximately 7.6% of the issued and outstanding shares of the Company.

Following closing of the Private Placement, PRRF holds 2,439,025 Shares, 2,439,025 Warrants and 3,175,000 special warrants (the "Special Warrants"), with each Special Warrant exercisable for once Share for no additional consideration until August 14, 2018. Assuming full exercise of the Warrants and Special Warrants held by PRRF, PRRF would hold a total of 8,053,050 Shares, representing approximately 11.93% of the common shares of the Company.

PRRF purchased the Units for investment purposes and may or may not purchase or sell securities of the Company in the future on the open market or in private transactions, depending on market conditions and other factors.

About Pacific Road Resources Funds and Pacific Road Capital Management Pty Limited

The Pacific Road Resources Funds are private equity funds investing in the global mining industry. They provide expansion and buyout capital for mining projects, mining related infrastructure and mining services businesses located throughout resource-rich regions of the world. The Pacific Road Resources Funds are managed and advised by Pacific Road Capital Management Pty Ltd ("PRCM"). The PRCM team, located in Sydney, Australia, San Francisco and New York, USA, is comprised of experienced mining investment professionals that have extensive knowledge and experience in the mining and infrastructure sectors, including considerable operating, project development, transactional and investment banking experience. For further information on the Pacific Road Resources Funds and PRCM, please go to their website at

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