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Tosca Mining Corp (2)
Symbol TSQ
Shares Issued 17,126,127
Close 2014-04-07 C$ 0.065
Market Cap C$ 1,113,198
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Tosca to raise $360,000, begin drilling at Carol

2014-04-09 12:52 ET - News Release

Mr. Ron Shenton reports

TOSCA MINING TO DRILL CAROL COPPER PROJECT, SONORA, MEXICO

Tosca Mining Corp. has entered into a contract with Layne De Mexico SA de SV, to undertake a drill program on its Carol copper project, Sonora, Mexico. Site preparation is now under way with drilling expected to commence by the end of April.

The initial drill program will consist of five to seven HQ-size holes totalling 500 to 700 metres. The planned drilling will investigate the continuity, extent and morphology of near-surface skarn mineralization occurring within a shallowly dipping metasedimentary sequence, as well as possible porphyry-style mineralization. The Piedras Verdes porphyry copper deposit, Mexico's third-largest copper producer, is located four kilometres southwest of the Carol property.

The drill program is the first ever to be conducted on the property. It will focus on the Balde Sur area where 12 trenches previously excavated at widely separate locations within an area measuring approximately 1,000 metres by 500 metres encountered significant Cu-Ag (copper-silver) and Zn-Au (zinc-gold) skarn-type mineralization.

Recently Tosca reopened select portions of two of these trenches, BS-06 and BS-08, to validate past results in preparation for a proposed drill program. Continuous chip channel sampling, conducted at one-metre intervals, has confirmed the presence of significant mineralization in both trenches as shown in an attached table.

Trench      Width                    Average grade
               (m)       Cu (%)  Ag (g/t)    Zn (%)  Au (g/t)

BS -- 06      8.0         1.06      22.5     11.87      0.26
BS -- 08     11.0         0.38      22.4      0.48      0.08
And           8.0         0.48      16.5      0.62      0.07

Additionally, two grab samples taken from historical workings located in the immediate vicinity of trench BS-06 (one to the south and one to the north) returned significant high-grade results as shown in an attached table.

Trench        Width                    Average grade
                 (m)       Cu (%)  Ag (g/t)     Zn (%) Au (g/t)

BS -- 06 N      Grab        7.00      94.3      34.00     0.61
BS -- 06 S      Grab        3.70      30.3      19.00     0.67

The company also wishes to annouce a non-brokered private placement offering of up to six million units at a price of six cents per unit for gross proceeds of up to $360,000. Under the terms of the offering, each unit will consist of one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share of the company for a period of two years from the date of issue, at a price of eight cents in year one and 10 cents in year two. Finders' fees may be payable. The private placement and finders' fees are subject to regulatory approval.

Proceeds from the placement will be utilized for continuing work on the Carol copper project located in Sonora, Mexico, and for general working capital.

Ian Foreman, PGeo, is the qualified person, as defined by National Instrument 43-101, for the Carol project and is responsible for the technical information in this news release.

We seek Safe Harbor.

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