Decade Resources Ltd. (“Decade” or the “Company”) (TSX.V — DEC) reports it has increased the amount of its non-brokered flow-through private placement, announced October 6, 2010, from 7,000,000 units (the “Units”) to up to 10,000,000 units for gross proceeds of $3,000,000. All other terms of the private placement remain as announced.
The private placement will close in two tranches, the first tranche of approximately 7,000,000 flow through units is planned to close early next week in conjunction with the closing of the non-flow-through private placement announced on October 6th, 2010.
Proceeds of the financing will be used to further explore the Montrose zone on the Red Cliff property as well as further define the area of intense alteration and mineralization on the Wedeene property.
Finders’ fees are payable on part of the offering in accordance with TSX Venture Exchange policy.
Decade Resources Ltd. is a Canadian-based mineral exploration company whose activities are in the Stewart area of British Columbia.
For further information, please contact Investor Relations at 604-681-0710.
ON BEHALF OF THE BOARD OF DIRECTORS
Ed Kruchkowski, President
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
“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.”