VANCOUVER, Feb. 13, 2013 /CNW/ - Telson Resources Inc. (TSX Venture -
TSN) ("Telson" or the "Company") has closed a 1st tranche of its non-brokered private placement for
gross proceeds of $480,000 (the "Private Placement") by issuance of 4,800,000 units (each a "Unit") of the Company, at a price of $0.10 per Unit. Each Unit consists of
one common share (a "Share") of the Company and one half of one share purchase warrant (each whole
warrant a "Warrant"). Each Warrant is exercisable into one additional Share for a period
of two years, expiring on January 30, 2015, at a price of $0.10 per
The Company is using the proceeds of the Private Placement to fund its
Mexican operations supporting its flagship Tahuehueto Project in
Durango, Mexico and for general working capital.
About Telson Resources Inc.
Telson Resources Inc. is an exploration and development company
strategically focused on gold, silver and base metals in the prolific
Sierra Madre Belt of Mexico. The Company holds 99.4% of the
outstanding shares of its Mexican subsidiary company that maintains
100% ownership in 9,081 hectare Tahuehueto Property, an advanced stage
gold and base metal exploration and development project where the
Company delivered a robust Preliminary Economic Assessment ("PEA") on
October 4, 2010. Key findings from the report included:
Summary of PEA Estimates
Net cash flow
$US 184.2 million
Net Present Value (NPV) 5% discount
$US 109.6 million
Internal rate of return %
Maximum processing rate
Capital and start-up costs
$US 89.1 million
Note: Calculations based on a 3 year rolling average of metal prices at
the end of August 2010.
Currency US$ Gold: 965.81, Silver: 15.38, Copper: 2.92, Lead: 0.95,
Telson also holds an option to purchase 100% interest in the 4,332
hectare Jocuixtita Silver Project where the company has recently
conducted a first stage exploration drilling program.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) "Ralph Shearing"
Ralph Shearing, President/CEO
"Neither the 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."
WARNING: The Company relies upon litigation protection for
"forward-looking" statements. This News Release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of up-coming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated
in such statements.
SOURCE: Telson Resources Inc.
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