Tuffnell Ltd. Announces Fully Subscribed Financing for Advanced Gold Project
in Arizona


    



    
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<p><span class="xn-location">LONDON</span>, <span class="xn-chron">April 26</span> /CNW/ -- Tuffnell Ltd. (Tuffnell or "the Company") (OTC Bulletin Board:   TUFF) is pleased to announce it has closed a fully subscribed <span class="xn-money">$500,000.00 USD</span> private placement.</p>
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<p>The Company entered into an Option Agreement with MinQuest Inc. ("MinQuest"), whereby MinQuest granted the Company the sole and exclusive right and option to acquire an undivided 100% right, title and interest in and to the Little Butte project subject only to a royalty, being located in LaPaz County, Arizona.</p>
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<p>The Company is currently reviewing technical data to establish the first phase of its exploration program, in order to test the mineralized system.</p>
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<p>"We're in the process of fast-tracking our first phase of exploration and expect to be issuing further news on this in the near future," said <span class="xn-person">George Dory</span>, President of the Company.</p>
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<p>Tuffnell has also launched its new corporate web site at <a href="http://www.tuffex.com">www.tuffex.com</a>. The Company will be updating its web site regularly to keep investors aware of all corporate developments. The Company has also established a toll-free number for investor inquiries.</p>
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<p>This financing raised aggregate proceeds of U.S.<span class="xn-money">$500,000.00</span> and was comprised of a unit ('Unit') sale by Tuffnell of 500,000 Units priced at U.S.<span class="xn-money">$1.00</span> per Unit for one share of common stock in the capital of Tuffnell (each, a "Share"); and one common share purchase warrant (each a "Warrant") subject to adjustment. Each whole Warrant is non-transferable and entitles the holder to purchase one common share of Tuffnell (each, a "Warrant Share"), as presently constituted, for a period of twenty four months beginning <span class="xn-chron">April 26, 2010</span> at a price per Warrant Share of U.S.<span class="xn-money">$1.50</span>. These Units are being issued pursuant to Regulation S of the Securities Act of 1933, as amended ("Regulation S") and Tuffnell did not engage in any general solicitation or advertising regarding this Unit offering.</p>
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    About the Company
    
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<p>Tuffnell is a US-based resource exploration company exploring for gold in proven mining districts in the State of Arizona. It is focused on discovering and developing low-cost gold assets in order to provide maximum returns for its shareholders.</p>
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<p>Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at <a href="http://www.sec.gov">http://www.sec.gov</a>.</p>
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    CONTACT:  Investor Relations 1-800-459-0794

    www.tuffex.com




    

For further information: For further information: Investor Relations, 1-800-459-0794 Web Site: http://www.tuffex.com

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TUFFNELL LTD.

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