Discovery 2008 Flow-Through LP raises $12 Million

    TORONTO, Oct. 24 /CNW/ - Middlefield Group announced today the closing of
its 42nd resource fund, Discovery 2008 Flow-Through Limited Partnership,
bringing to over $1.5 billion the amount of capital that the firm has raised
to invest in the Canadian resource sector since 1983.
    The objectives of the Partnership are to provide investors with capital
appreciation and significant tax benefits to enhance after-tax returns,
including the deductibility of 100% of their original investment. The
Partnership intends to achieve these objectives by investing in an actively
managed, diversified portfolio of equity securities of Canadian exploration,
development and production companies involved primarily in mining and
supplemented by companies operating in the oil and gas and renewable energy
    The syndicate of agents for the offering was co-led by Canaccord Capital
Corporation and Dundee Securities Corporation and included HSBC Securities
(Canada) Inc., Manulife Securities Incorporated, Raymond James Ltd., Blackmont
Capital Inc., Wellington West Capital Inc., Burgeonvest Securities Ltd., GMP
Securities L.P., Haywood Securities Inc., Middlefield Capital Corporation,
Research Capital Corporation, Desjardins Securities Inc., Industrial Alliance
Securities Inc. and Laurentian Bank Securities Inc.

    Middlefield is a leading provider of flow-through share funds in Canada
and has a strong track record of delivering positive after-tax returns. Since
1983, Middlefield has sponsored 41 public and private funds and has acted as
agent or manager for over $1.5 billion of resource investments. Discovery's
focus will be to construct a diversified portfolio of high quality
attractively valued companies which offer strong growth prospects and are led
by experienced management teams.

    This press release is for informational purposes only and does not
constitute an offer to sell or a solicitation to buy the securities referred
to herein. This offering was made by prospectus only and copies thereof may be
obtained from any of the dealers listed above as may lawfully offer these
securities in such province or territory or by contacting Middlefield
toll-free at 1.888.890.1868.

For further information:

For further information: visit our website at, or
contact Nancy Tham, Senior Vice-President, at (416) 847-5349, or

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