Euro Sun Announces Private Placement of up to $10 Million
EURO SUN ANNOUNCES PRIVATE PLACEMENT OF UP TO $10 MILLION
September 20, 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 a non-brokered
private placement financing of common shares at a price of $1.40 per share for proceeds to the
Company of up to $10 million.
Euro Sun intends to use the proceeds from th is private placement for the advan cement of its
Rovina Valley Project, and for general working capital purposes.
Closing is expected to occur on or about September 29, 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 gol d equivalent ounces (7.19 million ounces of gold
grading 0.55 g/t and 1,420 million pounds 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 c ase 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 of $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 result 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.
Further information:
For further information about Euro Sun Mining, or the contents of this press release, please
contact Investor Relations at [email protected] or +1 416.309.4299.
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 the profile of the Company on SEDAR at www.sedar.com and on the Company's
website at www.eurosunmining.com. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in forward-looking information, there
may be other factors that cause result s 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 .