QUEBEC, Jan. 29 /CNW Telbec/ - Robex Resources Inc. (TSX-V: RBX) is
pleased to announce the increase of the private placement now in progress for
up to $1,000,000. This placement, announced in our January 13th press release,
initially forecasted a maximum offering of 15 000 000 units for a potential
amount of $750,000.
This financing will now consist of a maximum offering of 20,000,000
units. Each unit, priced at $0.05, will include one common share and one
common share purchase warrant, each warrant exercisable to purchase one
additional share at $0.10 per share for the first year and at $0.15 per share
for the second year following the closing of this private placement.
The proceeds from the financing will be allocated to the company's
working capital and to the on-going prefeasibility study initiated on the
Nampala gold orebody. Nampala is located on the Mininko permit in Southern
Mali and now contains an inferred resource of 760,000 oz Au at a grade of
1.0g/t Au (NI 43-101 Standard, see PR July 13, 2007). The next step in this
study will consist of a computerized block model study on the gold resources
developed in the near- surface (oxidized) portion of the orebody (0 to -60 m).
This study will be followed by a targeted infill reverse circulation (RC) and
diamond drilling program aimed at upgrading the outlined resources from the
inferred to indicated category. Should the results of this campaign justify
it, during the following weeks extensive metallurgical testing will be
conducted on the ore material in order to outline the best extraction and
recovery methods for the contained gold. Also, at the same time, cost estimate
sourcing for an eventual production start-up will be completed. This release
and the information contained herein have been verified by Benoit M Violette,
Geologist, VP Operations and a Qualified Person.
This financing is subject to approval of the regulatory authorities.
For the Board of Directors: Rolland Veilleux, President of the Board
The TSX Venture Exchange cannot be held responsible for the contents of
the present press release.
For further information:
For further information: Investor relations: André Gagné,
Vice-President, (418) 527-3588, email@example.com