Stockport Exploration Announces $500,000 Private Placement

HALIFAX, March 11, 2013 /CNW/ - Stockport Exploration Inc. (TSX: SPT) (OTC: LMTCF) is pleased to announce that it intends to complete a non-brokered private placement of up to 5,000,000 common shares priced at $0.10 per share, for total gross proceeds of up to $500,000.

Finders will be entitled to a commission in the amount of 7.0% of the gross proceeds received from the sale of shares, payable in shares or cash.

Net proceeds of the offering will be used for exploration of the company's mineral properties, and working capital.  Specifically, some of the funds will be directed towards a drill program on the Company's Kenyan property at the 214 and 258 Central target.  Details of the drill program will be released in the near future.

The private placement is scheduled to close on or about March 15, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval and acceptance by the Toronto Stock Exchange.  All securities to be issued pursuant to the private placement will be subject to a four-month hold period.

About Stockport Exploration Inc.:

Stockport is focused on the exploration of a district-scale land package along a prolific gold-hosting greenstone belt in southwest Kenya. The 2,020 km2 property package has the potential to host multiple mineral deposits, including Lode-Au and Cu-Zn-Au-Ag massive sulphide types.  Stockport also holds the La Morena Copper-Silver property in Coahuila, Mexico, the Seymour Lake Tantalum-Lithium-Beryllium property near Armstrong, Ontario, and the KM61 property, which hosts a 43-101 Compliant Molybdenum-Copper-Silver Resource, also near Armstrong, Ontario.

Forward-Looking Information:

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The likelihood of future mining at the Nyanza Project is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for pits and processing facilities as well as receipt of significant additional financing to fund these objectives, as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at the Nyanza Project and there is no assurance that the mineralization at the Nyanza Project will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com

SOURCE: STOCKPORT EXPLORATION INC.

For further information:

STOCKPORT EXPLORATION
Jim Megann
President and CEO
(902) 482-1240
jmegann@stockportexploration.com
www.stockportexploration.com

Profil de l'entreprise

STOCKPORT EXPLORATION INC.

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