Tarsis Resources Ltd.
TSX VENTURE : TCC

Tarsis Resources Ltd.

February 13, 2012 16:15 ET

Tarsis Closes Financing for $1.2 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2012) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce that the financing announced on January 24, 2012 and increased on February 9, 2012 has been closed.

Tarsis issued 4.8 million units (a "Unit") at $0.25 per Unit for gross proceeds of $1.2 million. Each Unit is comprised of one common share and one half of a non-transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share on or before August 11, 2013 at a price of $0.40 per common share.

The securities issued are subject to a four month hold period expiring on June 11, 2012. Insiders participated in the offering for a total of 440,000 Units.

The proceeds will be used for certain prospect generation efforts in the Yukon and elsewhere, certain early stage exploration work to upgrade currently held projects, and for general corporate purposes.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model, with nine mineral properties in the Yukon, Canada and one in Mexico. The Company acquires prospective exploration projects when metal prices are low or of strategic value, and vends or options out projects to partners for advancement.

On behalf of the Board,

Marc G. Blythe, P.Eng., MBA, President, Director and CEO

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