Silver Shield Resources Corp.
TSX VENTURE : SSR

Silver Shield Resources Corp.
Gemini Acquisitions

June 11, 2007 17:18 ET

Silver Shield and Gemini Acquisitions Announce Closing of Silver Shield Private Placement

TORONTO, ONTARIO--(Marketwire - June 11, 2007) -

NOT FOR DISTRIBUTION TO USA NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE IS NOT A SOLICITATION OF ANY OFFER TO PURCHASE OR SELL SECURITIES FROM OR TO ANY PERSON.

Silver Shield Resources Inc. ("SSR" or the "Company") announced today that it closed the previously announced private placement offering of 3,475,000 units at an issue price of Cdn$0.20 per unit, raising total gross proceeds of Cdn$695,000. Each unit is comprised of one common share of the Company and one common share purchase warrant, which is exercisable into one common share of the Company at an exercise price of $0.35 for a period of two years. The Company plans to use the proceeds from the private placement to continue exploration on its Welsh Mine Property and other properties including its La Cumbre Property in Guerrero, Mexico. Foundation Markets Inc. acted as the agent for the offering and was paid a 10% cash commission and 10% broker options. Each broker option is exercisable into one unit at $0.20 for a period of 2 years from closing.

Tim Towers, President of Silver Shield stated "The closing of the initial financing is a positive step towards satisfaction of the financing condition to the completion of the qualifying transaction with Gemini Acquisitions. We look forward to progress of the transaction."

About Silver Shield

Silver Shield is a private company whose principal business is the acquisition, exploration and development of mineral resource properties in Northern Ontario and Mexico with a focus on silver. Silver Shield is currently a party to option agreements pertaining to five different properties including the Welsh Mine Property in the historically prolific silver producing Elk Lake-Gowganda area of Ontario and the La Cumbre Property in Guerrero, Mexico. The Company completed a 43-101 compliant technical report on the Welsh Property in January 2007 following an exploration program in 2006.

About Gemini Acquisitions

Gemini Acquisitions is a capital pool company listed on the TSX Venture Exchange under stock symbol "GQI.P". Gemini and Silver Shield previously announced that they had entered into a letter of intent in respect of a transaction that would be Gemini's qualifying transaction pursuant to the policies of the Exchange. Details of the proposed Qualifying Transaction are available in Gemini's press release dated May 4, 2007 on SEDAR at www.sedar.com.

About Foundation Markets Inc.

Foundation Markets is a Toronto-based investment banking firm and Limited Market Dealer committed to assisting small to medium-sized companies with rapid-growth potential. The firm specializes in working with select companies at a pre-public stage to prepare for a going-public transaction, relying on its capital markets expertise to help clients manage the entire process. In addition to Foundation Markets' core client-base of emerging Canadian companies, the firm maintains strategic partnerships in South America, China and India through which it is able to assist companies in these emerging regions to access North American and European public market capital as well as introduce international opportunities to Canadian businesses.

THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS, UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE ACTUAL RESULTS MAY BE SUBSTANTIAL. ACCORDINGLY, NO ASSURANCES CAN BE GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE FORWARD-LOOKING STATEMENTS WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO, WHAT BENEFITS THE COMPANY WILL DERIVE THEREFROM.

Contact Information

  • Silver Shield
    Tim D. Towers
    President
    (905) 319-3033
    (905) 319-2997 (FAX)
    Email: fstplc@lara.on.ca
    or
    Silver Shield
    Raymond Lashbrook
    Vice President, Exploration
    (905) 319-3033
    or
    Gemini
    Randy Koroll
    Chief Financial Officer
    (416) 662-9455
    or
    Foundation Markets
    Jeremy Goldman
    (416) 777-6174
    Email: jgoldman@foundationmarkets.com