Tarsis Resources Ltd.

Tarsis Resources Ltd.

November 21, 2013 16:28 ET

Tarsis Arranges $300,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 21, 2013) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce that the Company has arranged a private placement of 4 million units at 7.5 cents to raise $300,000. These funds will be used to advance Tarsis's current projects and for general working capital.

Larger project based exploration expenditures will be sought through additional option partnerships.

Tarsis has recently announced significant early stage exploration developments on three projects:

  • BP Project, Nevada - Results announced September 18, 2013.
  • Yago Project, Mexico - Results announced October 2, 2013.
  • Tim Project, Yukon - Results announced November 11, 2013.

All of these projects have excellent potential for significant discoveries and are now in the process of being presented to potential partners.

As a Prospect Generator, Tarsis works to facilitate the majority of its exploration funding through option partnerships. On February 5, 2013, Tarsis announced the Erika Gold Project in Mexico was optioned to a well-funded mid-tier gold producing company that has committed to spending $500,000 on the project in 2013, and an additional $3.5 million over 4 years to earn a 75% interest pending favourable results. Exploration has been actively underway on the project since July 2013 and an update will be provided shortly.

Tarsis expects to option out another project in the first quarter of 2014.

The financing units are comprised of one common share and one common share purchase warrant which entitles the holder to buy another common share at $0.15 for a period of three years.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model. The Company acquires prospective exploration projects by acquisition or through its own grass roots generative exploration, 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.
    Marc G. Blythe, P.Eng., MBA.
    Chief Financial Officer
    (604) 687-3520