Zoloto Resources Ltd.
TSX VENTURE : ZR

June 11, 2008 11:45 ET

Zoloto Resources Announces a Non-Brokered Private Placement and First Closing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION
IN THE UNITED STATES

Zoloto Resources Ltd. ("ZR" or the "Company") (TSX VENTURE:ZR), is pleased to announce that it has completed the first tranche of a non-brokered private placement (the "Private Placement") of up to 20,000,000 common shares, pursuant to which 8,250,000 common shares were sold at a price of $0.50 per share for aggregate proceeds of CDN$4,125,000. The securities issued under the first tranche of the Private Placement are subject to a hold period expiring on October 11, 2008.

The Company intends to use the net proceeds of the Private Placement for further exploration on the Company's mineral projects in Russia and for working capital and general corporate purposes.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

About Zoloto Resources

Zoloto is a gold exploration company whose primary focus is to become a mid-tier gold producer through the advancement of its gold exploration properties in the Russian Federation. In addition, Zoloto's management will continue to evaluate acquisition opportunities within the Russian Federation. Zoloto's philosophy is to unlock shareholder value in a socially and environmentally responsible manner.

Robert Maddigan, Director

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Zoloto Resources Ltd.
    Leif Smither
    Investor Relations
    (604) 608-0223
    (604) 608-0344 (FAX)
    or
    Zoloto Resources Ltd.
    Greg Agar
    Investor Relations
    (604) 608-0223
    (604) 608-0344 (FAX)
    Website: www.zolotoresources.com