GAI: TSX Venture Exemption 12g3 - 2(b)
GARCF: O.T.C SEC File No. 82-659
VANCOUVER, June 6 /CNW/ - (TSX.V: GAI) - Les Kjosness, President, reports
the non-brokered flow-through private placement, originally announced
April 17, 2007, in the amount Cdn$960,000.00 has been fully subscribed.
The flow-through private placement is comprised of 80,000 Units at
Cdn$12.00 per Unit for total proceeds of $960,000. Each Unit consists of
sixty five flow-through common shares together with one-half of one
flow-through common share purchase warrant, and thirty five non-flow-through
common shares together with one half of one common share purchase warrant
attached. Each full warrant entitles the holder to purchase one additional
share at an exercise price of $0.20 per share for a period of one year.
Flow-through funds received from the exercise of the flow-through warrants
will be used for eligible Canadian exploration within the allowed time period.
The flow-through funds will be used to further the exploration and
development of the Company's Wakefield Lakes zinc project in Saskatchewan and
the Abbott/Wagner silver/lead/zinc property in British Columbia. The remaining
thirty five percent of the financing will be used for development of the
Company's Mildred Peak gold/silver/copper project in Pima County, Arizona and
other corporate activities.
On behalf of the Board of Directors
President and Director
The Company's exploration program is under the supervision of R.D.
Somerville, P. Eng., a Qualified Person under National Instrument 43-101. Mr.
Somerville is Vice President and COO of Golden Arch Resources Ltd.
Golden Arch Resources Ltd. is a metals, oil, and gas and exploration
company based in Vancouver, BC, Canada. Its principal assets are the Mildred
Peak copper/gold/silver property located in Arizona, the newly acquired
Wakefield Lakes zinc project in Saskatchewan and the Abbott/Wagner
silver/lead/zinc property in British Columbia.
"The TSX Venture Exchange assumes no responsibility for the accuracy of
this Release and neither approves nor disapproves thereof."
For further information:
For further information: Les Kjosness: firstname.lastname@example.org; Media:
Kirsti Mattson: email@example.com