VANCOUVER, BC -- (Marketwire) -- 08/14/08 -- Sacre-Coeur Minerals, Ltd. (the "Company")
(TSX-V: SCM) is pleased to announce the closing of a further
non-brokered private placement which has raised gross proceeds of CAD
$4,125,000. Under the terms of the private placement, the Company has
issued 2,750,000 Shares (the "Shares") at CAD $1.50 per Share to a single
investor.
The Shares are subject to a 4-month hold period expiring December 15, 2008.
No commissions or finders' fees were payable in connection with the private
placement.
According to Irwin Olian, CEO of the Company, "We are very excited about
the acceleration of our projects in Guyana. We are now drilling two
different highly prospective zones at our new Northwest Gold Project, with
early results expected soon from the initial holes. In addition, we have
identified seven new zones characterized by expansive surface anomalous
gold at Million Mountain, where drilling now has moved to the second zone.
Finally, we are preparing for the commencement soon of core drilling at our
third major project, Kartuni. In all, we will have four core drills
operating on three major gold projects within a few weeks. The current
private placement provides us with the funding needed to ramp up the
Kartuni project and comfortably accelerate development of our Million
Mountain and Northwest projects. We look forward to a busy and productive
Fall with significant advancement of all three major projects."
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development of
properties for the potential mining of gold, metals and diamonds in South
America, initially focussing on exploration for gold on its properties in
Guyana. The Company presently has an interest in approximately 850 square
miles of mineral properties in Guyana, including the Million Mountain
Property, the Northwest Gold Project and the Kartuni Gold Project. The
Company has offices in Vancouver, Canada and Georgetown, Guyana. More
information about the Company is available at www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the
information contained herein. The statements made in this press release
may contain certain forward-looking statements that involve a number of
risks and uncertainties. Actual events or results may differ from the
Company's expectations.
Distributed by Filing Services Canada and retransmitted by Marketwire
For further information, contact:
Irwin Olian
President and CEO
Email: Email Contact
Phone: (604) 899-0100
Fax: (604) 899-0200
Lee Dunston
Corporate Communications
Email: Email Contact
Phone: (604) 899-0100
Fax: (604) 899-0200
Sacre-Coeur Minerals, Ltd
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, B.C.
V6B 4N8