VANCOUVER,
Feb. 13, 2013 /CNW/ - Telson
Resources Inc. (TSX Venture - TSN) ("Telson" or the
"Company") has closed a 1st tranche of its non-brokered
private placement for gross proceeds of $480,000 (the "Private Placement") by
issuance of 4,800,000 units (each a "Unit") of the Company,
at a price of $0.10 per Unit.
Each Unit consists of one common share (a "Share") of the
Company and one half of one share purchase warrant (each whole
warrant a "Warrant"). Each Warrant is exercisable into
one additional Share for a period of two years, expiring on
January 30, 2015, at a price of
$0.10 per Share.
The Company is using the proceeds of the Private Placement to
fund its Mexican operations supporting its flagship Tahuehueto
Project in Durango, Mexico and for
general working capital.
About Telson Resources Inc.
Telson Resources Inc. is an exploration and development company
strategically focused on gold, silver and base metals in the
prolific Sierra Madre Belt of
Mexico. The Company holds
99.4% of the outstanding shares of its Mexican subsidiary company
that maintains 100% ownership in 9,081 hectare Tahuehueto Property,
an advanced stage gold and base metal exploration and development
project where the Company delivered a robust Preliminary Economic
Assessment ("PEA") on October 4,
2010. Key findings from the report included:
Summary of PEA
Estimates |
Net cash flow |
$US 184.2 million |
Net Present Value (NPV) 5% discount |
$US 109.6 million |
Internal rate of return % |
31% |
Payback period |
27 months |
Mine life |
11 years |
Maximum processing rate |
1,000,000 tonnes/annum |
Capital and start-up costs |
$US 89.1 million |
Note: Calculations based
on a 3 year rolling average of metal prices at the end of August
2010.
Currency US$ Gold: 965.81, Silver: 15.38, Copper: 2.92, Lead:
0.95, Zinc: 0.88 |
Telson also holds an option to purchase 100% interest in the
4,332 hectare Jocuixtita Silver Project where the company has
recently conducted a first stage exploration drilling program.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) "Ralph Shearing"
Ralph Shearing,
President/CEO
"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."
WARNING: The Company relies upon litigation protection for
"forward-looking" statements. This News Release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of up-coming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
SOURCE Telson Resources Inc.