Mineral Mountain Announces Closing of First Tranche of Private Placement Mmv-TSX-V Mnrlf-OTCQB M8M:FRANKFURT
MINERAL MOUNTAIN ANNOUNCES CLOSING
OF
FIRST TRANCHE OF PRIVATE
PLACEMENT
MMV-TSX-V
MNRLF-OTCQB
M8M:FRANKFURT
VANCOUVER, BC
,
April 27, 2022
/CNW/ - Mineral Mountain Resources Ltd. ("
Mineral Mountain
"
or the "
Company
") (TSXV: MMV) (OTCQB: MNRLF) (FSE: M8M) is pleased to announce it has
closed a first tranche of the private placement announced previously on
April 5, 2022
issuing
1,100,000 units ("Units") at a price of
CAD$0.10
/Unite for gross proceeds of
CAD$110,000
.
Each Unit consists of one common share and one common share purchase warrant (a "Warrant").
Each Warrant can be exercised for a one year period from the Closing Date at
$0.25
per warrant
share.
The securities issued pursuant to the private placement are subject to applicable resale restrictions,
including a four month hold period from date of closing of the private placement under applicable
Canadian securities laws.Net proceeds from the financing will be used to advance the Standby Mine
Gold project and for general working capital.
About the Standby Mine Gold Target
All geologic, geophysical and drill results to date suggest a Homestake ledge-type target exists at
Standby and is potentially of large scale. Mineral Mountain's goal is to extend the Standby Mine gold
mineralization down-plunge through systematic step-out drilling along strike and down-plunge in the
Upper Tail to discover an
Ore Centroid
at depth.
MMV's two previous core drilling campaigns between 2018 and 2020 extended known gold
mineralization from the bottom of the historic Standby Mine workings from 130 meters below surface
to a total plunge length of 850 meters.
Jeff Hrncir
, the Company's chief geologist commented "Confirming the existence of an Ore Centroid
at Standby would be a game-changing discovery for Mineral Mountain Resources and set the stage
for future resource delineation drilling"
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
"Nelson W. Baker"
, President and CEO
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.
Forward looking information
This release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation ("Forward-looking information"). Forward-looking information includes, but is not
limited to, statements that address activities, events or developments that the Company expects or
anticipates will or may occur in the future, including such things as completion of the private
placement, future business strategy, competitive strengths, goals, expansion, growth of the
Company's businesses, operations, plans and with respect to exploration results, the timing and
success of exploration activities generally, permitting time lines, government regulation of exploration
and mining operations, environmental risks, title disputes or claims, limitations on insurance
coverage, timing and possible outcome of any pending litigation, timing and results of future resource
estimates or future economic studies and the ability to raise required capital.
Often, but not always, forward-looking information can be identified by the use of words such as
"plans", "planning", "planned", "expects" or "looking forward", "does not expect",
SOURCE
Mineral Mountain Resources Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/April2022/27/c5414.html
%SEDAR: 00029624E
For further information:
Brad Baker, Vice-President Corporate Development & Director, (778)
383-3975, [email protected], Or visit our website: www.mineralmtn.com
CO: Mineral Mountain Resources Ltd.
CNW 13:15e 27-APR-22