Robex Resources Inc.

Robex Resources Inc.

March 02, 2009 07:00 ET

Robex Announces Closing of Private Placement of $1,000,000

QUEBEC, QUEBEC--(Marketwire – March 2, 2009) - Robex Resources Inc. (TSX-V: RBX) is pleased to announce the closing with success, on February 27th, 2009, of a non-brokered private placement of up to $1,000,000. This placement, announced on the January 13th press release, initially forecasted a maximum offering of 15 000 000 units for a potential amount of $750,000, but had been increased to 20 000 000 units for a total amount of 1 million dollars due to the strong demand (see press release of January 29th). Each unit, priced at $0.05, includes one common share and one common share purchase warrant, each warrant exercisable to purchase one additional share at $0.10 per share for the first year and at $0.15 per share for the second year following the closing of this private placement. The proceeds from the financing will be allocated to the company's working capital and to the on-going prefeasibility study initiated on the Nampala gold orebody. Nampala is located on the Mininko permit in Southern Mali and now contains an inferred resource of 760,000 oz Au at a grade of 1.0g/t Au (NI 43-101 Standard, see PR July 13, 2007). The next step in this study will consist of a computerized block model study on the gold resources developed in the near- surface (oxidized) portion of the orebody (0 to -60 m). This study will be followed by a targeted infill reverse circulation (RC) and diamond drilling program aimed at upgrading the outlined resources from the inferred to indicated and measured category. Should the results of this campaign justify it, during the following weeks extensive metallurgical testing will be conducted on the ore material in order to outline the best extraction and recovery methods for the contained gold. Also, at the same time, cost estimate sourcing for an eventual production start-up will be completed. This release and the information contained herein have been verified by Benoit M Violette, Geologist, VP Operations and a Qualified Person. For the Board of Directors: Rolland Veilleux, President of the Board of Directors
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