Mr. David Schmidt reports
KOOTENAY CLOSES FLOW-THROUGH PRIVATE PLACEMENT FOR $500,000
Kootenay Zinc Corp. has closed a non-brokered flow-through private placement for up to 10 million flow-through units for gross proceeds $500,000 at a price of five cents per flow-through unit.
Each flow-through unit consists of one flow-through share of the company and one common share purchase warrant. Each whole warrant is convertible into one common share at a price of 10 cents per share and is exercisable for a period of one year.
The proceeds of the private placement will be used for the company's exploration activities.
About Kootenay Zinc Corp.
Kootenay Zinc is a mineral exploration and development company based in Vancouver, B.C., that is currently targeting the Sully property. The company is focused on discovering large-scale sedimentary-exhalative (SEDEX) deposits.
The Sully property comprises 1,375 hectares located approximately 30 kilometres east of Kimberley, B.C., and overlies rocks of similar age and origin as those which host the world-class Sullivan deposit, owned by Teck Resources Ltd. Sullivan was discovered in 1892 and is known to be one of the largest SEDEX deposits in the world. Over its 100-year lifetime, Sullivan produced approximately 150 million tonnes of ore, including approximately 300 million ounces of silver, eight million tonnes of zinc and eight million tonnes of lead. The equivalent level of strata as at Sullivan and that formed on the margin of that same basin are present at the Sully property.
The scientific and technical information contained in this news release has been reviewed and approved by the company's project manager, Paul Ransom, PGeo, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
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