Dorato Announces Non-Brokered Private Placement
18 November 2011 - 1:07AM
Marketwired
Dorato Resources Inc. ("Dorato" or the "Company") (TSX
VENTURE:DRI)(OTCQX:DRIFF)(FRANKFURT:DO5), subject to regulatory
approval, will conduct a non-brokered private placement of up to 20
million shares at $0.09 cents per share for gross proceeds of up to
1.8 million.
Finders' fees equal to 5 per cent of the gross proceeds raised
may be paid to certain finders for part of the private
placement.
The financing is subject to the approval of the TSX Venture
Exchange. All securities issued pursuant to the private placement
will be subject to a four-month hold period.
The finances will be used to finance initial exploration of its
Deborah Gold Property (100% owned) in Cajamarca, Peru and for
general working capital.
The Deborah Gold property is located only one hour east of the
city of Cajamarca, with good access via paved and dirt roads. Work
is scheduled to commence following receipt of approvals and
completion of the abovementioned financing. In addition to
remapping, the property will be sampled with both soil and rock
grids, since very little of the historic surface data are
available. The recessive area between two groups of drill holes
will be a priority. The trail cuts leading up across the recessive
area will be mapped first to determine the depth of overburden,
and, if they are less than a few metres, trenches and pits will be
dug in the area and any bedrock will be sampled. (See September 23,
2011 News Release for additional information).
About Dorato Resources Inc.
Dorato Resources Inc. is mineral exploration company focused on
the highly prospective Northern Peru copper-gold
porphyry-epithermal belt. The Company has property rights in two
geographic centres:
-- Cajamarca Region Project-- Dorato has acquired rights on the Deborah
property, which is nestled between several important copper-gold
deposits, including Michiquillay and El Galeno.
-- Cordillera del Condor Asset-- one of the most important gold-bearing
districts in northern Peru since pre-Incan times. Dorato, through a
series of option agreements has the right to wholly acquire an extensive
land package of approximately 1,050-square-kilometres, providing the
Company with the largest land position in the Cordillera del Condor.
The Company focuses on grassroots opportunities in strategically
important locations where prospectivity can be demonstrated by
proximity to existing deposits. The Cajamarca Region, in contrast,
is an established mining district with excellent infrastructure.
The Deborah property is a foothold for Dorato into an established
area with excellent exploration potential. The Cordillera del
Condor project represents an exceptional land position and an
emergent copper-gold district, located close to the border with
Ecuador. This remote area of Peru was unexplored until recently,
but it is located within kilometres of recent discoveries like
Fruta del Norte and the Mirador District (both located just across
the border in Ecuador).
On behalf of the board of directors of DORATO RESOURCES INC.
Anton Drescher, Interim President and CEO
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements of
historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement and cost
of exploration programs, anticipated exploration program results,
the discovery and delineation of potential mineral
deposits/resources/reserves, business and financing plans and
business trends, are forward-looking statements. Although the
Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements as a result of
various factors, including, but not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be
located, variations in the market price of any mineral products the
Company may produce or plan to produce, the Company's inability to
obtain any necessary permits, consents or authorizations required
for its activities, the Company's inability to produce minerals
from its properties successfully or profitably, to continue its
projected growth, to raise the necessary capital or to be fully
able to implement its business strategies, to obtain the required
supreme decree from Peruvian authorities and other risks and
uncertainties disclosed in the Company's Amended 2010 Annual
Information Form filed with certain securities commissions in
Canada and the Company's 2010 Annual Report on Form 40-F filed with
the United States Securities and Exchange Commission (the "SEC"),
and other information released by the Company and filed with the
appropriate regulatory agencies. All of the Company's Canadian
public disclosure filings may be accessed via www.sedar.com and its
United States public disclosure filings may be accessed via
www.sec.gov.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Dorato Resources Inc. Michael Pound Manager - Investor
Relations (604)-638-5817 (604) 408-7499
(FAX)info@doratoresources.comwww.doratoresources.com
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