Rockcliff Resources Inc.
TSX VENTURE : RCR

Rockcliff Resources Inc.

December 09, 2014 08:00 ET

Rockcliff Completes Geophysical Review and Identifies High Priority Drill Targets near High Grade Talbot Copper Deposit and Closes First Tranche of Private Placement

TORONTO, ONTARIO--(Marketwired - Dec. 9, 2014) - Rockcliff Resources Inc. ("Rockcliff" or the "Company") (TSX VENTURE:RCR) wishes to report it has completed a historical geophysical review surrounding the high grade Talbot Copper Deposit. A preliminary total of six (6) high priority geophysical targets were clearly identified, of which four (4) of the targets are drill ready and will be tested in a planned drill program in the New Year. The Talbot Property is located in mining friendly Manitoba and all necessary permits are presently in place. Also, the Company is pleased to report that it has closed the first tranche of the private placement announced on November 14, 2014 (the "Offering") with the sale of 916,667 flow-through units ("FT Units") and 4,184,000 working capital units ("WC Units") for gross proceeds of $264,200.

Rockcliff's President & CEO Ken Lapierre stated, "The successful geophysical review at Talbot has identified numerous targets deserving of a significant campaign of drilling to determine their mineral significance. Our private placement has gotten off to a great start and we look forward to completing the financing so that we can begin a very promising program of potential copper discoveries near our existing high grade Talbot Deposit. The Talbot Deposit was discovered by geophysics and the fact that VMS deposits like to form in clusters bodes well for these nearby untested targets."

Please visit the Company's website at www.rockcliffresources.com to view the Talbot Geophysical Report.

The Company's present financing consists of up to 15,000,000 FT Units of the Company priced at $0.06 per FT Unit, for gross proceeds of up to $900,000. Each FT Unit consists of one (1) flow-through common share of the Company priced at $0.06 and one (1) common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire an additional common share for three (3) years from the closing of the Offering at a price of $0.10 per common share. It also consists of up to 12,000,000 WC Units of the Company at a price of $0.05 per WC Unit, for gross proceeds of up to $600,000. Each WC Unit consists of one (1) common share of the Company priced at $0.05 and one (1) common share purchase warrant (a "WC Warrant"). Each WC Warrant entitles the holder to acquire an additional common share for three (3) years from the closing of the Offering at a price of $0.075 per common share.

All securities issued under this tranche are subject to a hold period expiring on April 9, 2015.

The Company will leave the Offering open until the earlier of the completion of the Offering and December 22, 2014.

Rockcliff Resources Inc.

Rockcliff Resources Inc. is a Canadian resource exploration company focused on discovery and resource growth of its high-quality mineral properties at its Snow Lake Project. Rockcliff presently controls the Snow Lake Project in central Manitoba, totalling in excess of 400 km2. The project includes two (2) VMS high grade copper rich NI 43-101 Resources (T-1, Rail), two (2) historic high grade VMS copper deposits (Lon and Talbot), the T-2 Copper Zone (Tower), numerous untested geophysical anomalies and several additional properties with VMS potential (Freebeth, Dickstone North). Rockcliff also owns a zinc-silver rich NI 43-101 Resource (Shihan) in Ontario.

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Rockcliff undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither 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

  • Rockcliff Resources Inc.
    Ken Lapierre P.Geo.
    President & CEO
    klapierre@rockcliffresources.com
    (416) 644-1752
    Cell: (647) 678-3879

    Rockcliff's New Address:
    520-141 Adelaide St. W.
    Toronto, ON
    M5H 3L5