Euro Sun Announces Concurrent Brokered Private Placement FOR up to $2 Million
EURO SUN ANNOUNCES CONCURRENT BROKERED
PRIVATE PLACEMENT FOR UP TO $2 MILLION
October 2, 2017
Toronto, Ontario
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES
Euro Sun Mining Inc . (TSX: ESM) (“Euro Sun” or the “Company”) , announces that it has
entered into an agreement with Haywood Securities Inc. (“Haywood”), under which Haywood
has agreed to act as the agent in connection with a “best -efforts” private placement of common
shares (the “Common Shares”) at a price of $1.40 pe r Common Share (the “Issue Price”) for
gross proceeds of up to $2 million (the “Offering”). The Offering is being completed concurrent
to, and on the same terms as, the previously announced non -brokered private placement of
Common Shares for up to $10 mill ion (the “Non -Brokered Offering” and together with the
Offering, the “Private Placement”).
Euro Sun intends to use the proceeds from the Private Placement for the advancement of its
Rovina Valley Project, and for general working capital purposes.
Closing is expected to occur on or about October 10, 2017, and is subject to the receipt of
regulatory approvals, including the approval of the Toronto Stock Exchange.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and
development of its 100%-owned Rovina Valley Gold and Copper Project located in west -central
Romania. The property hosts 10.84 million gold equivalent ounces (7.19 million ounces of gold
grading 0.55 g/t and 1,420 million poun ds of copper grading 0.16%*), making it the second
largest gold deposit in Europe.
*Notes Related to the Mineral Resource Estimate: Gold equivalent ounces ("AuEq") are
determined by using a gold price of US$1,370/oz and a copper price of US$3.52/lb. These
prices are the three -year trailing average as of July 10, 2012. Metallurgical recoveries are not
taken into account for AuEq. Base case cut-off used in the table are 0.35 g/t AuEq for the Colnic
deposit and 0.25% CuEq for the Rovina deposit, both of which are amenable to open-pit mining
and 0.65 g/t AuEq for the Ciresata deposit which is amenable to underground bulk mining. For
the Rovina and Colnic porphyries, the resource is an in-pit resource derived from a Whittle Shell
Model using gross metal values o f $1,350/oz Au price and $3.00/lb Cu price, net of payable
amounts after smelter charges and royalty for net values of US$1,313/oz Au and US$2.57/lb Cu
for Rovina and US$2.27/Ib Cu for Colnic). Rounding of tonnes as required by reporting
guidelines may res ult in apparent differences between tonnes, grade, and contained metal
content.
Qualified Person
The mineral resources stated in this press release have been reviewed and approved by Mr.
Pierre Desautels, P.Geo. Principal Resource Geologist of AGP, who served as the independent
Qualified Person as defined by National Instrument 43 -101, responsible for preparing the
Mineral Resource Estimate and Technical Report dated August 30, 2012.
Caution regarding forward-looking information:
This press release may contain "forward-looking information" within the meaning of applicable Canadian
securities legislation. Forward -looking information includes, without limitation, statements regarding the
private placement. Forward-looking information is subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such forward -looking information,
including risks inherent in the mining industry and risks described in the public disclosure of the Company
which is available under its profile on SEDAR at www.sedar.com and on the Company's website at
www.eurosunmining.com. Although the Company has attempted to ident ify important factors that could
cause actual results to differ materially from those contained in forward-looking information, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.