Prince Silver Announces Non-brokered Private Placement

Executive Summary

• Prince Silver Corp. announced a non-brokered private placement of up to 3,125,000 units at $0.40 per unit, raising up to $1,250,000 in gross proceeds.
• Each unit consists of one common share and one-half common share purchase warrant, with warrants exercisable at $0.60 for 12 months.
• Net proceeds are intended for exploration and development of the 100% owned Prince Silver Project in Nevada and for general corporate working capital.

Key Details

• Transaction Structure: Non-brokered private placement of up to 3,125,000 Units.
• Price: $0.40 per Unit.
• Gross Proceeds: Up to $1,250,000.
• Unit Composition: Each Unit comprises one Common Share and one-half Common Share Purchase Warrant.
• Warrant Terms: Each full Warrant is exercisable to purchase one Common Share at an exercise price of $0.60. Warrants are valid for 12 months from the date of issuance.
• Finder’s Fees: The Company intends to pay finders' fees equal to 7% of the gross proceeds to eligible finders.
• Regulatory Conditions: Subject to approval by the Canadian Stock Exchange (CSE).
• Hold Periods: Securities issued are subject to statutory hold periods expiring four months and one day from the date of closing.
• Use of Proceeds: Exploration and development of the Prince Silver Project (Nevada, USA) and general corporate working capital.
• Company Assets: Prince Silver Corp. holds the 100% owned Prince Silver Project (silver, near-surface, historic drilling), interest in the Stampede Gap Project (copper-gold-moly porphyry, ~15km NNM of Prince Silver), and an option interest in the Broken Handle Project (southern British Columbia, Canada).

Notable Quotes

• "The Company intends to use the net proceeds raised from the Private Placement for exploration and development on it's 100% owned Prince Silver Project as well as for general corporate working capital." - Ralph Shearing, Director, President