Caldera Closes Financing - Raises $1.2M

    Symbol: TSX-V: CDR
    Shares Outstanding: 26,723,333

MONTREAL, May 5 /CNW Telbec/ - Caldera Resources Inc. (the "Corporation") announced today that it has closed the final tranche of its non-brokered private placement, originally announced on April 12, 2010. A total of 889.61 Units, priced at $1,350 each, were subscribed for by investors, for total gross proceeds of $1,200,973.50. Insiders subscribed for $302,400 of the financing.

A finder's fee of 8% cash and 10% in broker warrants will be paid to certain arm's length parties participating in the financing. The finder's fee is calculated at $62,748 cash and 529,000 broker warrants. Completion of the private placement is subject to final approval by the TSX Venture Exchange.

The Units are comprised of 10,000 common shares (the "Shares") at $0.1350 per Share and 10,000 common share purchase warrants (the "Warrants"). Each Warrant entitles the holder to acquire one additional share at a price of $0.20 for 24 months from closing. A total of 8,896,100 Shares and equal number of Warrants will be issued as a result of this financing. Further to this closing, the Corporation now has 26,723,333 issued and outstanding Shares. All securities issued are subject to a four month hold from issuance.

The proceeds from the financing will be used to close the joint venture agreement with Global Gold Corporation, commence the summer work program on the Marjan Gold-Silver Project in Armenia, proceed with the potential acquisition of Lichkvaz-Tey Gold project, our second gold project in Armenia, and for general working capital.

    Marjan Gold-Silver Project Summer Work Program

Part of the funds raised in this financing will be used by the Corporation for its summer exploration program on the Marjan Gold-Silver project. The goal of the program is to complete the groundwork necessary to quantify gold and silver resources on the property.

The program will include the assimilation of all previous exploration/development works into a block model of Marjan mineralization and subsequent development of a mine plan and initial project economics as part of a scoping study. Also the Corporation will resample known vein zones on surface; develop drill targets to bring existing Soviet P1 prospecting resources into 43-101 compliant inferred resources.

The summer development program will also include exploration on a new target zones outlined in our recently completed Marjan due diligence program. The program will collect approximately 6 tonnes of samples and up to 2000 meters of drilling.

    Marjan Site Visit Update

Mr. Ricardo Valls, M.Sc., P.Geo, independent QP and geologist for the Corporation, visited the Marjan property in April 2010. He reports that he visually identified several of the vein systems both in the Central and the Northern Zones of the Marjan project, as well as the presence of low sulphide and high sulphide quartz gold mineralization. Mr. Valls also reported the Veins on both Zones are structurally controlled and in clear association with hydrothermal alteration, mostly silicification and kaolinitization. Due to the more resistant nature of the veins and dykes, they are easily morphologically identifiable on the top of the hills.

Of special interest is the presence of a tuff-sedimentary unit located between the Central and the Northern Zones, and clearly controlled by N-S and E-W system of faults. Mr. Valls further stated that it is possible that the vein systems identified at the Northern and Central Zones intruded these sediments and facilitated the percolation of sulphide and gold mineralization along its porous sediments. Presently, the sediments are visibly mineralized and very heavy, indicating the potential presence of mineralization disseminated along the whole unit.

Additional samples were taken from an old adit into these sediments and Caldera is planning a surficial lithogeochemical sampling of the whole unit in order to locate a drilling target to confirm the widespread mineralization in these sediments.

    The Marjan Gold and Silver Project

The Marjan Gold-Silver project has two distinct zones, referred to as the Northern Zone and the Central Zone. The Northern Zone was extensively explored by the previous operator, investing US$3.5 in Mining and Exploration on the property, between 2006 and 2009. These resources do not qualify under NI 43-101 rules as historical resources and cannot be reported until they are independently reviewed. Resources from the Northern Zone will be reviewed during the summer work program and reported in updated resource calculation at the end of the summer.

The Central Zone of the Marjan Project was extensively explored between 1964 and 1989, and has Soviet-era GKZ standard resources as outlined below:

    Historical Resources
    Marjan Central
    Zone only             tonnes      Gold     Silver    Gold oz  Silver oz
    -------------------- ---------  --------  ---------  -------  ----------
    C1 and C2 resources  4,772,757  2.64 g/t  92.67 g/t  405,147  14,211,588
    P1 resources         3,211,843  2.35 g/t  93.42 g/t  242,696   9,647,922

The resource estimate was published by Poghosyan N. F. in a 1995 report titled Marjan Gold-Silver-Polymetallic Property, State Committee for Reserves of Armenia, Sisian Geological Exploration Group, Yerevan, Armenia. Blocks of all categories are defined using a dry density of 2.87 g/cm3, a minimum thickness of 0.4 metres, and a cut-off of 1.2 g/t of Gold.

    Lichkvaz-Tey Gold Project

Caldera is also pursuing the acquisition of the Lichkvaz-Tey Gold Project with its strategic partner, BacTech Mining Corporation (TSX-V: BM). The gold resources of the Lichkvaz-Tey project are refractory and require the use of BacTech's proprietary bioleaching technology to increase the recovery of gold. The project is currently owned by the Armenian government.

The Lichkvaz-Tey gold project has a Soviet-era GKZ mineral resource as outlined below.

    Resources                     tonnes
    Lichkvaz-Tey                  (000's)    Gold       Silver      Copper
    ------------                 --------  ---------   ---------  -----------
    C1 Resources                   1,291    7.85 g/t    38.5 g/t        0.48%
    C2 Resources                   1,490    4.74 g/t    30.5 g/t        0.35%
    ------------                 --------  ---------   ---------  -----------
    C1 & C2 Resources              2,781
    -----------------            --------
    P1 Resources                   4,700     4.5 g/t    18.5 g/t
    ------------                 --------  ---------   ---------

    Resources                                 Gold      Silver      Copper
    Lichkvaz-Tey                               oz         oz        (lbs)
    ------------                           ---------   ---------  -----------
    C1 Resources                             325,827   1,598,003  13,661,603
    C2 Resources                             227,068   1,461,090  11,497,105
    ------------                           ---------   ---------  -----------
    C1 & C2 Resources                        552,895   3,059,093  25,158,708
    -----------------                      ---------   ---------  -----------
    P1 Resources                             679,988   2,795,505
    ------------                           ---------   ---------

All numbers are historical and there is no NI 43-101 compliant report prepared for this project. The data presented above was referenced from Mining-Metallurgical Institute of Armenia in 1986 Protocol GKZ USSR N 10081 dd.28/11/1986.

According to the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), "C1" and "C2" classifications are equivalent to "indicated" and "inferred" resources ( ). Resources identified as P1 and P2 in the same report can be considered in the "Inferred" and "Mineralized Zone" categories respectively, as defined by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) in their document "Estimation of Mineral Resources and Mineral Reserves Best Practices Guidelines" ( ).

The projects were reviewed by Ricardo Valls, P. Geo, independent QP and geologist for Caldera. He visited the Global Gold's offices, core-shack and staff during a first trip to Armenia in December 2009. At that time, due to weather conditions, a visit to the site was not possible. Mr. Valls was then engaged to write a NI 43-101 report which has been completed and deposited with the TSX Venture Exchange for review, after concluding a visit to the Marjan Gold and Silver project in April 2010.

    About Caldera

The Corporation's main business is the acquisition, exploration and development of gold projects in South-eastern Europe and Armenia and is currently developing the Marjan Gold-Silver Project in Southern Armenia.

On March 23, 2010, the Corporation signed a joint venture agreement on the Marjan Project with Global Gold Corp, of Greenwich, Connecticut. Under the terms of the agreement Caldera will become the operator of the project and hold a 55% interest. To maintain its 55% interest, Caldera must invest US$3M towards a bankable feasibility study on the Marjan project. Caldera can acquire 100% interest in the project by making payments totalling US$2.85M, by December 2012. The Company must also pay US$150,000 cash and issue 500,000 shares from treasury, upon closing. Closing is pending final approval by the TSX Venture Exchange which is awaiting clearance of the NI 43-101 report on the Marjan Gold-Silver Project.

The Corporation is also completing a due diligence reviewing of the Lichkvaz-Tey Gold project in Southern Armenia, with its strategic partner, BacTech Mining Corporation (TSX-V: BM). Upon satisfactory review of the project, the Corporation will pursue the acquisition from the Armenian Government later in the year.

    Qualified Person

Mr. Jim Steel, MBA, P.Geo, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of NI 43-101.

    Cautionary Statement

The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Former Soviet country estimates are presented for historical reporting and to provide a basis for assessing Caldera's choices for its business activities. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources.

Additional information related to the Corporation is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

%SEDAR: 00004575E


For further information: For further information: Bill Mavridis, President & CEO, Caldera Resources Inc., (514) 380-5310, Direct Line: (514) 813-9200,; Renmark Financial Communications Inc.: Barry Mire, (514) 939-3989,; John Boidman, (416) 644-2020,

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