Muzhu Mining Closes Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
MUZHU MINING CLOSES NON-BROKERED PRIVATE PLACEMENT
April 03, 2023 - Vancouver, BC; Muzhu Mining Ltd. (CSE: MUZU) (“Muzhu” or the
“Company”) is pleased to announce that the Company has closed its non-brokered
private placement for 2,250,000 flow-through units (the “F/T Units”) at $0.10 in the
capital of the Company with each F/T Unit consisting of one common share to be issued
as a “flow-through share” as such term is defined in subsection 66(15) of the Income
Tax Act (Canada), and associated regulations made thereunder (each a “F/T Common
Share” and collectively the “F/T Common Shares”) and one common share purchase
warrant (“Warrant”), with each Warrant entitling its holder to purchase one Common
Share at a price of $0.15 for a period of twelve (12) months from the date of closing, for
gross proceeds of up to $225,000 CAD in the aggregate. The Issuer may pay finder's
fees, which may be paid to eligible finders in accordance with the CSE policies. All
securities issued pursuant to the offering will be subject to a hold period of four months
and one day from the date of closing. The offering and payment of finders' fees are both
subject to approval by the CSE.
Muzhu owns 100% of the Sleeping Giant South Project (15,000 acres) located in
Quebec’s Abitibi Greenstone Belt contiguous to the South of the Sleeping Giant Mine
held by Abcourt Mines. The Sleeping Giant Mine has historical production of 1.1 Million
ounces of Gold at a historical grade of 10.28 g/t Au and current M&I reserves of
175,757 oz at 11.2 g/t Au. (Géant Dormant –Mines Abcourt Inc., NI 43-101, 2019).
approximately 75km South of Matagami, Quebec just off Hwy. #109.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tong,
Interim CEO
Muzhu Mining Ltd.
Phone: 1-226-455-5644
Email: [email protected]
Website: www.muzhumining.ca
Muzhu Mining Ltd. is a Canadian publicly traded exploration company with a portfolio of
highly prospective projects at various stages of development. Muzhu currently holds a
100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone
Belt, approximately 75km South of Matagami, Quebec. Muzhu has executed an option
agreement to acquire up to 80% of the Silver, Zinc, Lead XWG Property in the Henan
Province of China as well as formed a strategic alliance with Luoning County Muzhu
Mountain Lead and Silver Mine Company Ltd., within the Luoning county, Henan
province of China, which owns the Niujuangou Mine area, a property contiguous to the
north of Muzhu Mining's option agreement with the XWG silver property.
Cautionary Notes
This news release is not to be distributed in the United States nor does it constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful, including any of the securities in the United States of
America. The securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the
United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933
Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such
registration requirements is available.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term
is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.