VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 7, 2016) - Taku Gold Corp. (CSE:TAK) ("Taku" or the "Company") announces a non- brokered private placement of up to 4,000,000 flow-through shares at a price of $0.10 per flow-through for net proceeds up to $400,000. Finders' fees may be paid on a portion of the private placement, in accordance with the policies of the Canadian Securities Exchange. The private placement will be subject to prospectus exemptions of applicable securities laws and to the final acceptance of the Canadian Securities Exchange.
The net proceeds of the private placement will be used to fund Taku's ongoing exploration programs in the White Gold district of Yukon. This new gold camp has shown a rapid evolution from the initial Golden Saddle discovery in 2009, currently held by Kinross Gold Corp., to the $520 million, all-share acquisition of Kaminak Gold Corp. in May 2016 by Goldcorp Inc. Kaminak's key asset was the Coffee Gold project located at the south end of the White Gold district approximately 130 kilometres south of Dawson City. Coffee currently has total gold mineral resources (Goldcorp press release - May 12, 2016) of 3.0-million ounces indicated (63.7Mt at 1.45g/t), and 2.2-million ounces inferred (52.4Mt at 1.31g/t).
Agnico-Eagle Mines Ltd. has recently entered the camp with a proposed share purchase equal to 19.93% of the total number of issued and outstanding common shares of G4G Capital Corp. (to be re-named White Gold Corp.), after giving effect to a concurrent private placement at a price of $1.20 per common share (Agnico-Eagle press release - December 6, 2016). Agnico-Eagle will invest $14.52-million, assuming the concurrent private placement is fully subscribed at $3.48-million (G4G press release - December 6, 2016). G4G has an option to acquire 12,301 claims (249,000 hectares) across 21 properties covering a large portion White Gold district.
Taku holds a portfolio of 1,449 claims (29,813 hectares) in the White Gold district. Its Rosebute property is currently under option to Independence Gold Corp. whereby Independence may earn a 75% interest in the property by paying $295,000 cash ($60,000 paid), issuing 1-million shares (200,000 issued) and completing $2-million work expenditures over a three year period (Taku press release - July 6, 2016).
About Taku Gold Corp.
Taku Gold Corp. (http://www.takugold.com) is a mineral resource company focused on the exploration and development of precious metal properties in Canada with an emphasis on the White Gold district of Yukon and the Tagish Lake region of Northern British Columbia.
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Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above and in the corporation's periodic filings with the British Columbia Securities Commission and the U.S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation does not intend to update this information and disclaims any legal liability to the contrary.