/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
SHARES ISSUED AND OUTSTANDING: 31,813,871
TSX Venture Exchange Symbol: VGC
TORONTO, March 10 /CNW/ - Viking Gold Exploration Inc. (the "Company")
announces that it has closed on a non-brokered private placement of 1,050,000
units for gross proceeds of $157,500. The units were sold at a price of $0.15
per unit with each unit being comprised of one "flow-through" common share and
one common share purchase warrant. Each warrant entitles the holder to
purchase one common share at a price of $0.25 until March 7, 2009; thereafter,
at a price of $0.35 until March 7, 2010. A 7% finder's fee was paid on
closing. The units are subject to a 4-month restricted period.
The proceeds will be used to fund ongoing, exploratory drilling programs
on the Company's Morris Lake properties northwest of Yellowknife, NWT.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: George Werniuk, Vice President at (416)
364-6244 extension 251, or visit our website at: www.vikinggold.ca