TORONTO,
Oct. 17, 2012 /CNW/ - Parkside
Resources Corporation (TSX-V: PKS) ("Parkside Resources" or the
"Company"), a gold exploration company active near Pickle Lake in northwest Ontario, is pleased to provide the following
corporate update for its shareholders.
Parkside Resources' summer / fall exploration
program is well underway. With the proceeds from the private
placement that closed in August 2012
Parkside commenced on a 145
kilometre line cutting and ground geomagnetic survey program on the
central portion of Parkside's 10,750 acre property in
northwest Ontario, 35 kilometres
southeast of Goldcorp's Musselwhite Mine. The line cutting work has
been completed, with the ground geomagnetic survey anticipated to
be finished within a week. With the results and data from the
current exploration program, combined with the data from 78
historic drill holes, totaling 8,236 metres, as well as the
previous aeromagnetic and ground geomagnetic surveys completed,
Parkside will compile the
information into a Geographic Information System ("GIS") database
to help determine future targets for a budgeted 1,500 metre winter
2013 drill program.
The management of Parkside Resources is pleased
to announce that it has commenced discussions with the
Mishkeegogamang and North Caribou First Nations. Parkside is committed to building and
maintaining a strong and positive working relationship with the
First Nations communities as it plans future exploration work on
its Forester Lake property. The Company is scheduling visits to the
two First Nations communities in the next few months, following
initial meetings held in Toronto
in August and September.
Parkside Resources is continuing to market its
Secondary Offering, brokered by Macquarie Private Wealth Inc., to
raise $789,000, comprised of issuing
3,000,000 Non-Flow-Through ("NFT") Units at $0.10 and 4,075,000 Flow-Through ("FT") Units at
$0.12. Both the NFT and FT Units come
with a full Warrant with an exercise price of $0.20 for a 30 month period from the closing date
of the private placement financing, which is projected to be on, or
before, October 29, 2012.
Finally, following the listing of its common
shares on the TSX Venture Exchange on August
20, 2012 Parkside Resources had the pleasure of opening the
TSX on September 25, 2012.
Management, directors, friends, family and fellow shareholders
participated in the listing ceremony. A photograph of the listing
ceremony can be viewed on the TSX website at
http://www.tmx.com/en/images/highRes/September25-2012.jpg.
About Parkside Resources Corporation
Parkside Resources Corporation is a Canadian
based mineral exploration company dedicated to building shareholder
value through focused exploration, discovery and development of
high quality precious and base metal projects. The Company
has entered into an Option and Joint Venture Agreement with Benton
Resources Corporation to explore the Forester Lake Gold Property
which is located approximately 100km north of Pickle Lake, Ontario and roughly 35km
southeast of Goldcorp's Musselwhite Gold
Mine. Incorporated in 2005 Parkside Resources Corporation is
a reporting issuer in the provinces of British Columbia and Alberta, the common shares of which are listed
for trading on the TSX Venture Exchange under the symbol TSX-V:
PKS.
Neither the 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.
SOURCE Parkside Resources Corporation