Tajiri Resources Corp.

Tajiri Resources Corp.

July 26, 2012 13:33 ET

Tajiri to Raise $600,000 for Kaburi Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2012) - Tajiri Resources Corp. (or the "Company") (TSX VENTURE:TAJ) announces subject exchange approval, a private placement offering of up to 12,000,000 units at a price of $0.05 per unit for aggregate proceeds to the Company of $600,000. Each unit will consist of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the Company at $0.10 for 24 months from the closing of the offering. Proceeds of the offering will be used primarily to fund a first pass RC drill program at the Kaburi PL gold project, Mazuruni District, Guyana, South America and for general working capital purposes.

Finder's fees may be payable on a portion of the offering, in accordance with the policies of the TSX Venture Exchange.

About the Kaburi PL

The Kaburi PL occupies 2,598 hectares (6,421 acres) of the Guiana Shield Greenstone Belt, one of the least documented Precambrian terrains in the world, and locally is within the Mazuruni Mining District of Guyana, South America. This area has long been a source of gold production for the Country and its local mining interests and recently has gained awareness in the international exploration community due to the underexplored and highly prospective nature of the geology in the area. Located approximately 70km North-West of the past producing Omai Gold Mine, the Kaburi PL is surrounded on all sides by the West Omai Tenements of Azimuth Resources Ltd. which hosts an NI43-101 inferred resource* of 1.22 million ounces gold. Due to similarities in geological environments, as noted in the Company's recently published N.I. 43-101 Technical Report, Tajiri believes that the Kaburi PL Project has the potential to host similar gold mineralization to Azimuth's West Omai Prospects and warrants systematic mineral exploration programs to assess its mineral potential.

The private placement is subject to the approval of the TSX Venture Exchange.

On Behalf of the Board,

Graham Keevil, President, CEO

Tajiri Resources Corp.

*Tajiri was unable to verify the resource estimate presented above, which is available publically on ASX/TSX filings and from within Azimuth's public disclosures. The information presented herein on the West Omai Project and the related Prospects are not necessarily indicative of the mineralization on the Kaburi Property. The information is included to highlight the mineralization identified to date in the region in relation to the Kaburi Project Boundaries and does not necessarily indicate gold mineralization is present on the Kaburi Project. Paul D. Gray, P.Geo, is the company's qualified person with respect to the Kaburi PL project, and has reviewed and approved this press release.

Neither the 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

  • Tajiri Resources Corp.
    Graham Keevil
    President, CEO
    604-642-0115 or Toll Free 866-345-0115
    604-642-0116 (FAX)