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MONTREAL, Sept. 22 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to announce that it has closed its non-brokered placement initially announced on September 4th, 2009 and September 14th, 2009 (the "Offering"). A total of 3,367,428 treasury common shares at a price of $0.35 per share for gross proceeds of $1,178,599.80 has been issued. Each share has been sold on a "flow through" basis. Members of the board of the Company subscribed for approximately 15% of the issue.
Gross proceeds from the Offering will be used by Golden Goose to fund exploration at its Magino project where recompilation of previous drilling and geophysical data has identified high potential targets outside but near the current resource envelope. Note that the current resource includes measured and indicated resource of in excess of 453,000 ounces of gold at a grade of 6.74 g/t and an inferred resource of 1,100,000 ounces of gold at a grade of 6.29 g/t. This estimate was calculated using a cutoff grade of 3.0 g/t; using a higher cutoff of 5.0 g/t results in a measured and indicated resource of approximately 345,000 ounces grading 8.90 g/t and an inferred resource of approximately 800,000 ounces grading 9.08 g/t. The estimate was initially announced on April 30th, 2009.
All shares issued in connection with the Offering are subject to a statutory hold period until January 23, 2010, in accordance with applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold, platinum group metal and nickel properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information: For further information: Golden Goose Resources Inc.: Francois Perron, 1-888-928-4667, Fax: 1-888-494-5371, firstname.lastname@example.org; www.goldengooseres.com