Vancouver, BC – Decade Resources Ltd. (“Decade” or the “Company”) reports the second tranche of the private placement, for gross proceeds of $400,500, announced on September 16, 2009, has now closed. All of the shares, warrants and any shares issued upon the exercise of the warrants comprising the units are all subject to a hold period and may not be traded in Canada until February 21, 2010, and any shares and warrants issued upon the exercise of a compensation option paid as a finder’s fee are subject to a hold period and may not be traded in Canada until February 23, 2010, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange. A compensation option exercisable for 11,236 units of the Company and the sum of $5,000.02 was paid as a finder’s fee in connection with the private placement. The finder’s fee units have the same terms as the private placement units. Insiders of the Company subscribed for units totaling $180,500 of the private placement.
Decade Resources Ltd is a Canadian based mineral exploration company which is actively seeking opportunities in the resource business. The Company holds an option to earn up to a 60% interest in the Red Cliff property with an option to earn an additional 20%, dependent on Mountain Boy shareholder approval, by making certain cash and share payments to Mountain Boy Minerals Ltd and incurring exploration expenditures. Decade also has an option to earn a 100% interest in the Silver Crown 6 claim, adjoining the Red Cliff property to the north.
For further information, please contact Andrew Bowering at 604-662-8184.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew Bowering, Chief Financial Officer/Director
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“This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”