Tarsis Resources Ltd.

Tarsis Resources Ltd.

April 26, 2011 16:30 ET

Tarsis Closes $1.6 Million Kinross Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2011) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce that it has closed its previously announced non-brokered private placement of 2,710,891 shares at a price of $0.60 for gross proceeds of $1,626,534.60.

Kinross Gold Corporation (TSX:K)(NYSE:KGC) ("Kinross") subscribed for all 2,710,891 shares, representing 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.

Tarsis now has 27,382,736 common shares issued and outstanding. The shares issued will have a 4 month hold period ending August 20, 2011. No finder's fees were paid in connection with this financing.

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