Arcus announces flow-through financing and expansion of Yukon land package


Arcus Development Group Inc. (the “Company”) announces that subject to regulatory approval, it will carry out a non-brokered private placement of flow-through shares. Up to 7,500,000 flow-through shares will be sold at $0.20 per share for proceeds of $1,500,000. Funds from the placement will be used to finance 2010 work on the Company’s projects in the Yukon.

The Company’s Yukon gold projects consist of the Green Gulch and the Touleary properties, immediately adjacent to the Underworld Resources White Gold property and the Dan Man property, immediately adjacent to the Kaminak Gold Coffee property. Maps showing the locations of the properties can be viewed on the Arcus website.

The Company also announces that it has increased the size of its Dan Man property through the addition of 203 new mineral claims. These new claims are located immediately north of the Company’s original Dan Man claims and were acquired through staking. “Based on the encouraging results from Kaminak’s initial drilling on its Coffee claims, Arcus has significantly increased the size of its Dan Man claim block and is accelerated its 2010 exploration programs in the White Gold area,” reported Ian Talbot, the Company President.

Phase one of the Company’s 2010 Yukon program will focus on mechanically trenching soil and rock geochemical anomalies identified at each of the Dan Man, Green Gulch and Touleary properties in 2009. The phase two program will consist of the drill testing of targets identified during the stage one trenching program.

Be Sociable, Share!

, , , ,

Comments are closed.