| ||Vancouver, Canada: Radius Gold Inc. (TSX-V: RDU) announces that as a result of the conversion of $300,000 of a debt owing to Radius by Southern Silver Exploration Corp. ("Southern Silver"), Radius has acquired direct ownership of 6,000,000 common shares (the "Shares") in Southern Silver. The Shares were issued at a deemed price of $0.05 per Share and represent 13.49% of Southern Silver's outstanding common shares. |
The shares were acquired by Radius for investment purposes, and it may from time to time, directly or indirectly, acquire additional securities of Medgold. The Shares were acquired by Radius in reliance on the exemption from prospectus requirements set forth in National Instrument 45-106, Prospectus and Registration Exemptions. Radius has filed on www.sedar.com a report in accordance with NI 62-103, and a copy of the report may be obtained by contacting Radius at the address noted below.
Radius has been exploring for gold, primarily in Latin America, for over a decade. The Company has a strong treasury and is looking for project acquisition and investment opportunities across the globe. Please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com) for more information.
ON BEHALF OF THE BOARD
President and CEO
Contact: Simon Ridgway
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the possible increase in the Company's investment in Southern Silver. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the Company will acquire additional securities in Southern Silver; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: expectations regarding whether the Company will acquire additional securities in Southern Silver; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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