Tarsis Resources Ltd.
TSX VENTURE : TCC

Tarsis Resources Ltd.

April 19, 2011 09:00 ET

Tarsis Announces $1.6 Million Private Placement, Kinross Takes 9.9% Stake

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 19, 2011) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" or "the Company") is pleased to announce that it has agreed to complete a non-brokered private placement of 2,710,891 shares at a price of $0.60 for gross proceeds of $1,626,534.60, subject to acceptance for filing by the TSX Venture Exchange.

Kinross Gold Corporation (TSX:K)(NYSE:KGC) ("Kinross") has agreed to purchase all 2,710,891 shares (approximately 9.9% of the Company's issued and outstanding). Tarsis has agreed to grant Kinross the right to maintain its percentage ownership during future financings.

President and CEO Marc Blythe commented, "We are very pleased to have attracted the attention of Kinross, one of the world's largest gold producers. Their interest affirms our corporate and exploration strategies."

The financing proceeds will be used for mineral exploration in the Yukon and Mexico, the review of new projects, and general corporate purposes.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model, with mineral properties in Yukon, Canada and Mexico. The Company acquires projects on attractive terms, adds value and then vends or options out projects to partners for advancement.

On behalf of the Board,

Marc G. Blythe, P.Eng., MBA, President and Chief Executive Officer

This news release was prepared by Company management, which takes full responsibility for content.

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

  • Tarsis Resources Ltd.
    Marc G. Blythe, P.Eng., MBA
    President and Chief Executive Officer
    (604) 689-7644

    Tarsis Resources Ltd.
    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520
    info@tarsis.ca
    www.tarsis.ca