Damara Announces Financing for up to $250,000
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-1840 • www.damaragoldcorp.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
NEWS RELEASE
Damara Announces Financing for up to $250,000
September 5, 2023 TSX-V: DMR
DAMARA GOLD CORP. (TSX-V:DMR) (“Damara” or the “Company”), is please to announce it will conduct
a non-brokered private placement (the “ Offering”) for up to 8,333,333 units of the Company at a price of
$0.03 per unit (“Unit”) for gross proceeds of up to $250,000 (the “Proceeds”).
Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one-
half of one warrant (each full warrant a “ Warrant”). Each Warrant will entitle the holder to purchase one
additional Common Share in the capital of the Company at a price of $0.10 for 24 months from closing.
The Company may pay finders' fees of 5% cash and 5% finders warrants (“Finder Warrant”). Each Finder
Warrant will entitle the holder to acquire one additional Common Share in the capital of the Company at a
price of $0.10 for 24 months from closing on the same terms as the Warrants.
All securities issued pursuant to the Offering are subject to a statutory four month and one day hold period
from the date of closing.
It is anticipated 75% of the proceeds will be used for exploration expenditures related to the Placer Mountain
project located near Princeton, British Columbia (the “ Program”), 10% will be used for management fees
for officers of the Company and 15% will be used to provide working capital and general corporate purposes.
The Program will include the continuation of trenching and channel sampling on the 1.5km x 600m Au soil
geochem anomaly at the Kodiak zone where prospecting completed in 2020 had located several areas with
float samples assaying up to 70 g/t Au. Due to the excessive rain encountered in the 2021 field season,
these target areas which were located in topographically low areas could not be accessed by back hoe at
the time. It is anticipated that chip sampling of bed rock exposed by trenching this fall, could identify gold
bearing structures which, elsewhere on this Project have already shown significant Au and Ag intersections.
None of the securities sold in connection with the Offering will be registered under the United
States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements. This news release
shall not constitute an offer to sell or the solicit ation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Qualified Person
Dr. Gerald G. Carlson, PhD, PEng, technical advisor to the Company, is the Qualified Person as defined by
National Instrument 43-101 who has reviewed and approved the technical data in this release.
About Damara
Damara Gold Corp. is a TSX Venture listed mineral exploration company actively focused on the exploration
of the Placer Mountain Gold Property, located in Princeton, BC, held by 84%/16% JV with Universal Copper
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-1840 • www.damaragoldcorp.com
Ltd. Damara’s Board of Directors is seasoned in the mineral exploration industry with extensive and
successful international experience.
ON BEHALF OF THE BOARD OF DIRECTORS OF DAMARA
“Larry Nagy”
Larry Nagy, Chief Executive Officer
For additional information visit Damara’s website at www.damaragoldcorp.com or contact:
Damara Gold Corp.
Larry Nagy
Chief Executive Officer or
Terese Gieselman
Chief Financial Officer
Ph: (250-717-1840)
Disclaimer for Forward-Looking Information
This news release contains statements that constitute "forward -looking Information", as such term is used in applicable Canadian
securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause
the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated
results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes
statements that are not historical facts and are generally, but not al ways, identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "wo uld," "may,"
"could" or "should" occur.
Although the Company believes the forward -looking information contained in this news release is reasonable based on information
available on the date hereof, by its nature forward -looking information involves assumptions and known and unknown risks,
uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future
events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking
information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with
general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals;
that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legisl ative
and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources,
and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the
Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which
could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity
of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions
risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the
Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.
THE FORWARD -LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF
DAMARA AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.
READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD -LOOKING INFORMATION AND SHOULD NOT RELY
UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE DAMARA MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE
THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture
Exchange) accepts responsibility for the adequacy or accuracy of this press release