|Mon Jun 30, 2003
|Vancouver, British Columbia, June 30, 2003: Roca Mines Inc. ("Roca") announces that certain directors have arranged the sale of 575,000 common shares of Roca at a price of $0.25 per share through the facilities of the TSX Venture Exchange. The proceeds from this sale will be used to fund a private placement of 575,000 common shares of Roca at a price of $0.25 per share. This private placement is subject to regulatory approval.
Roca also announces that the $100,000 private placement announced on June 13, 2003 has closed. 400,000 common shares with a hold period expiring on October 26, 2003 were issued to insiders of the company. A $10,000 cash success fee was paid in connection with the arm's length purchase of 400,000 common shares in the open market on June 13, 2003.
Funds from these private placements will be used for general working capital and to add to the company's exploration reserves.
Fieldwork continues on Roca's Foremore Project 45 km north of the Eskay Creek mine in northern British Columbia. Prospecting and geological work has led to the discovery of two new mineralized outcrops. The "Sunday Showing" is located approximately 1.4 km south of the SG Zone and initial samples have been sent to Acme labs in Vancouver for analysis. Prospecting in the North Zone has resulted in the discovery of a mineralized outcrop located uphill from the northeast portion of the North Boulder Field. Please visit www.rocamines.com for details and locations of the SG Zone and North Boulder Field. Additional trenching and sampling will be conducted on these new outcrops and the 2002 SG Discovery Zone, to be followed by diamond drill testing in August 2003.
ROCA MINES INC.
Scott E. Broughton, P.Eng - President
For further information contact Scott Broughton or John Mirko at:
Tel: 604-684-5900 (Broughton Ext. 114 / Mirko Ext. 110)
Email: [email protected] / [email protected]
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
You can view the Previous News Releases item: Fri Jul 18, 2003, Assay Results from New Massive Sulphide Outcrop Discovery at Foremore
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