New Nadina Closes $103,000 Tranche One
September 27, 2017 GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX VENTURE: NNA) announces the closing of Tranche One of the Private Placement (NR June 20, 2017) of 6,000,000 units at a price of $0.08 cents per unit for gross proceeds of $480,000. The units of the financing comprise of one common share and a full share purchase warrant, exercisable for a period of five years (subject to accelerated terms) at a price of $0.12 per share.
Tranche One proceeds of $103,000 in addition to funds received from the sale of Kettle River Resources Ltd. are adequate to initiate the Silver Queen drilling program on its 100% owned property near Owen Lake south of Houston BC.
The drill program is designed to test two new geophysical targets and a previously intercepted high silver grade vein. (NR May 24, 2017)
A cylindrical type feature of approximately 250m wide is of coincident high chargeability and low resistivity. The other untested target is a deep, large, very conductive geophysical anomaly to the northwest of the NG3 vein system. The No3 Vein system west of the porphyry striking northwest carries gold, silver, lead and zinc and is not epithermal appearing as seen within the porphyry to the east.
Drilling is expected to commence October 4, 2017.
ON BEHALF OF THE BOARD
Ellen Clements, President and Chief Executive Officer
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