March 31, 2009
Non-Brokered Private Placement Closes; TSX Venture Accepts Carter Coal Option Agreement For Filing
|Endurance Gold Corporation (EDG -- TSX.V, the "Company") is pleased to announce that, further to its news release dated February 20, 2009, it has closed the non-brokered private placement for gross proceeds of $400,000. The private placement comprised 8,000,000 units at a price of $0.05 per unit (the "Units"). Each Unit comprises one common share and one share purchase warrant, each such warrant entitling the holder to acquire one common share of the Company for a period of 12 months from closing at a price of $0.10 per share.|
Furthermore, the TSX Venture Exchange has accepted for filing the Property Option Agreement between Endurance Resources Inc., a wholly owned US subsidiary of the Company, and The Carter Land Company, dated February 17, 2009. Details of that Agreement, and a geological summary of the property, are outlined in the Company's News Release 09-01, dated February 20, 2009, and 09-04, dated March 31, 2009.
All securities issued pursuant to this private placement, including those issued as a Finder's Fee payment, are subject to a 4 month hold period from today's date.
The proceeds of the private placement transaction will be used to advance the Company's Carter Metallurgical Coal Project in West Virginia, and provide general working capital to the Company.
Duncan McIvor, P. Geo, is the Qualified Person as defined by National Instrument 43-101, and is responsible for the content of this news release.
ENDURANCE GOLD CORPORATION
/s/ Duncan McIvor
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
Duncan McIvor; (604) 682-2707, firstname.lastname@example.org
The TSX Venture Exchange or any other regulatory authority has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this news release.
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