Mr. Harold Smith reports
Further to the news release in Stockwatch dated April 20, 2010, Currie Rose Resources Inc. has increased the private
placement to 12.5 million units at a price of six cents per unit for gross proceeds up to $750,000.
Each unit shall consist of one common share of the company and one-half of one share purchase
warrant, each whole warrant entitling the holder thereof to purchase one additional common
share at a price of 10 cents for a period of 18 months from the closing date.
The expiry date of the warrants will be accelerated to shorten the exercise period to 30 days
should the shares of the company trade at 20 cents or higher for a period of 20 consecutive trading
days. Such acceleration will only occur after the hold period expires. Finders' fees will be paid
equal to an 8-per-cent cash fee of the total amount raised and 10 per cent of the total units sold in the form of
finders' warrants, whereby one finder's warrant entitles the holder to acquire one common share
of the company at 10 cents per share for a period of 18 months from the date of issue. The
finders' warrants will have the same accelerated expiry date provision as the warrants under the
private placement. Proceeds from the financing will be used to advance the company's Mabale
Sisu River gold project in Tanzania.
A series of grab samples from artisanal pits on the Sisu River prospect that forms part of the
100-per-cent-owned Mabale Hills project in Tanzania, East Africa, was previously disclosed in a
news release in Stockwatch dated March 8, 2010. A total of 13 samples was collected from in situ material,
consisting of sheared/silicified quartz porphyry with minor pyrite and arsenopyrite accessory
minerals. The sample area contains numerous artisanal pits, covering an area of approximately
150 metres by 30 metres, with colluvial overburden approximately two to three metres deep.
Of the 13 samples collected, six returned better than five grams per tonne gold, with a high of 89.2 g/t, while a
further five samples returned grades between one g/t gold to five g/t gold. Only two samples
returned values below one g/t gold.
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