/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
MONTREAL, March 30 /CNW Telbec/ - Campbell Resources Inc. (TSX: CCH) (the
"Company") is pleased to announce the size and pricing of its previously
announced private placement. The offering consists of the private placement of
56 million flow-through common shares of the Company at a price of $0.125 per
share for gross proceeds of $7,000,000. The Company has entered into an
agreement with a syndicate of Agents led by Sprott Securities Inc. and
including Dundee Securities Corporation and Octagon Capital Corporation
pursuant to which the Agents have agreed to act as agents to offer the common
shares for sale on a best efforts private placement basis. Closing is expected
to occur on or around April 17, 2007.
The completion of this financing will trigger the availability of a
further $4 million convertible debt financing.
The net proceeds of both financings will be used to advance the Company's
Corner Bay project. Work on the 725 meter ramp will begin before the end of
the month of April and it is expected that the mineralized zone will be
reached at the beginning of the 4th quarter.
The Corner Bay project is located some 45 kilometers from Campbell's
Copper Rand mill. Measured and indicated resources stand at 446,000 tonnes
averaging 5.58% Cu. Inferred resources total 1,441,000 tonnes averaging 6.76%
Cu (Ref.: GEOSTAT Technical Report, July 2006, available on SEDAR at
www.sedar.com). Following the extraction of the 42,000 tonnes bulk sample, the
Company plans to mine some 500,000 tonnes of ore grading 4.5% Cu over the next
4 years. Exploration at depth will also be carried out to confirm and add to
the resources already identified.
"Corner Bay is an exceptional deposit and is a focus for Campbell in
2007", said André Fortier, President and Chief Executive Officer. "Our goal is
to maximize throughput at the Copper Rand mill and Corner Bay is a key element
of that strategy".
The securities described herein will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States unless registered under the Act or unless an exemption from
registration is available.
Campbell is a mining company focusing mainly in the Chibougamau region of
Quebec, holding interests in gold and gold-copper exploration and mining
Certain information contained in this release contains "Forward-Looking
Statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 and is subject to certain risks and uncertainties, including those
"Risk Factors" set forth in the Campbell's current Annual Report on Form 20-F
for the year ended December 31, 2005. Such factors include, but are not
limited to: differences between estimated and actual mineral reserves and
resources; changes to exploration, development and mining plans due to prudent
reaction of management to ongoing exploration results, engineering and
financial concerns; and fluctuations in the gold price which affect the
profitability and mineral reserves and resources of Campbell. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. Campbell undertakes no obligation to
release publicly any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect unanticipated
events or developments.
For further information:
For further information: Campbell Resources Inc.: André Fortier,
President and Chief Executive Officer, (514) 875-9037, Fax: (514) 875-9764,
firstname.lastname@example.org; Renmark Financial Communications Inc.: Henri
Perron: email@example.com; Michael Shore: mshore@
renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,