COEUR D'ALENE, ID - October 10, 2013 - Star Gold Corp. ("Star Gold" or the "Company") (OTCQB: SRGZ) announced that it has completed its private placement of common stock and warrants for a total of $1,100,800 in gross proceeds. The private placement involved a sale of common stock at $0.25 per share, along with a twelve (12) month warrant to purchase 1 additional share, at an exercise price of $0.50 per share, for every two (2) shares purchased in the private placement.
Star Gold intends to use the proceeds of the private placement to continue to advance the Longstreet project and for general corporate purposes. "This financing allows Star Gold to update its Technical Reports and start to place some economic parameters around the project," said David Segelov, CEO of Star Gold Corp. "Further, it will enable Star Gold to commence work on preliminary environmental studies that will be required and to also further drill on the eastern section of Main Zone."
About Star Gold Corp. Star Gold is a gold exploration/development company with 115 unpatented claims and located within the historically prolific Walker Lane belt. The Company is currently focused on developing its flagship property, Longstreet Gold Project. The Longstreet Gold Project is located in Nye County, Nevada.
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Star Gold Corp (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings.
Investor Contact: David Segelov Office: 208-664-5066 Cell: 646-626-3356 firstname.lastname@example.org@stargoldcorp.com
SOURCE: Star Gold Corp.