GOLD Reach Closes $800,000 Non-Brokered Strategic Private Placement
GOLD REACH CLOSES $800,000 NON-BROKERED STRATEGIC PRIVATE PLACEMENT
December 5, 2017 , Vancouver, British Columbia - Gold Reach Resources Ltd. (the “Company”) (TSX -
V:GRV) has completed a non -brokered private placement and has issued 6,666,667 uni ts at a purchase price of
$0.12 per unit for gross proceeds of $800,000.
Each unit consists of one common share of the Company and one common share purchase warrant. Each
warrant entitles the holder to acquire an additional common share of the Company at an exercise price of $0.15
per share for a period of 3 years from the closing date of the private placement.
The majority of the financing has been taken by experienced mine industry investors based in Switzerland, the
United Kingdom, and Canada, wi th Gold Reach insiders taking a total of $ 52,960. In addition, a key mining
investment fund has provided Gold Reach with a non-binding Letter of Financial Support for future acquisitions
and property development, subject to due diligence, satisfactory com mercial terms, and other conditions. Gold
Reach is extremely pleased to have completed this financing with investors that have a strong track record of
success in the mining industry.
The proceeds of the financing will be used for exploration and general working capital. In compliance with
Canadian securities laws, all of the securities issued in connection with this closing are subject to a hold period
expiring on April 6, 2018. The Company paid finder’s fees of $54,000 cash and 450,000 warrants.
About Gold Reach Resources
Gold Reach Resources owns a 100% interest in the Ootsa Property, an advanced stage exploration project
containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry
copper mine. The proper ty contains NI 43-101 compliant resources of 224 million tonnes in the Measured and
Indicated categories with contained metals of 1.1 billion pounds of copper and 1 million ounces of gold as
summarized in the table below.
Ootsa Project Pit Constrained Mineral Resource Estimate at $8.50/t NSR Cut-off Value
Category Tonnes
(‘000’s)
CuEq
%
Cu
%
Au
g/t
Mo
%
Ag
g/t
CuEq
M lbs
Cu
M lbs
Au
K oz
Mo
M lbs
Ag
K oz
Measured 187,148 0.38 0.23 0.15 0.021 2.8 1,568 934 916 85 17,089
Indicated 37,041 0.35 0.21 0.12 0.023 2.8 286 175 146 19 3,368
M&I 224,189 0.37 0.22 0.15 0.021 2.8 1,854 1,109 1,062 104 20,457
On February 9, 2016, the Company announced a positive Preliminary Economic Assessment (PEA) for the
Ootsa Property with potential for low capital cost, low risk and rapid pay back utilizing existing infrastructure
in the district with a contract mining and toll milling scenario. The study recommends that Gold Reach
continue to advance the Ootsa Project with extended and advanced tech nical studies with the intention of
moving the project toward a production decision.
The current technical report supporting the resource statement and PEA is available on SEDAR or the Company’s
website at www.goldreachresources.com and has an effective date of January 2016. The resource estimate uses $8.50 per
tonne NSR cut -off value. Mineral resources are not mineral reserves and by definition do not demonstrate economic
viability. There is no certai nty that all or any part of the mineral resource will be converted into mineral reserves. A
‘Measured Mineral Resource’ is that part of a mineral resource for which quantity, grade or quality, densities, shape and
physical characteristics are so well esta blished that they can be estimated with confidence sufficient to allow the
appropriate application of technical and economic parameters, to support production planning and evaluation of the
economic viability of the deposit. An ‘Indicated Mineral Resource’ is that part of a Mineral Resource for which quantity,
grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to
allow the appropriate application of technical and economic parameters, to s upport mine planning and evaluation of the
economic viability of the deposit. Copper Equivalent (CuEq) calculations are based on base case metal price (US$3/lb
Cu, US$1260/oz Au, US$10.30/lb Mo, and US$17/oz Ag) and process recovery assumptions, and take into account
smelter payable rates and refining costs. M&I = measured and indicated. The resource update and Preliminary
Economic Assessment was completed by P&E Mining Consultants Inc. in accordance with National Instrument 43 -101
Standards of Disclosure for Mineral Projects.
Dr. Shane Ebert P.Geo., is the Qualified Person for the Ootsa project as defined by National Instrument 43 -101
and has approved the technical disclosure contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
“Shane Ebert”
President and Chief Executive Officer
For Further information, please contact:
Telephone: 604-718-5454
Toll Free: 888-500-4587
http://goldreachresources.com
Or
Don Mosher
Corporate Development
Telephone: 604-685-6465
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 release.
This News Release contains forward -looking statements, which relate to future events. In some cases, you can identify forward -
looking statements by terminology such as "will", " may", "should", "expects", "plans", or "anticipates" or the negative of these terms
or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and
other factors that may cause the Company’s act ual results, level of activity, performance or achievements to be materially different
from any future results, levels of activity, performance, or achievements expressed or implied by these forward -looking-statements.
Such uncertainties and risks may incl ude, among others, actual results of the Company's exploration activities being different than
those expected by management, delays in obtaining or failure to obtain required government or other regulatory approvals or
financing, inability to procure equip ment and supplies in sufficient quantities and on a timely basis, equipment breakdown and bad
weather. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect
the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially,
from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by
applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.