VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2012) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce that it has agreed to raise $502,500 by way of a non-brokered private placement. Tarsis makes every effort to minimize its overhead costs and focus its investment capital on prospect generation, early stage exploration, and optioning out its projects for further funding by partners. To date, Tarsis has optioned out three projects since inception and the latest project to be optioned out, the White River Project, was drilled by its optionee in the past two months.
The financing will consist of a total of 3.35 million units (a "Unit") at $0.15 per Unit for gross proceeds of $502,500. Each Unit is comprised of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a 36 month period at a price of $0.25 per common share.
Marc Blythe, President commented that "in keeping with our attention to our share capital structure, we will only issue a limited amount of shares while the markets are generally in a low state. These funds will be highly levered with the work done to date on our projects and the low acquisition costs we have for new properties."
About Tarsis Resources
Tarsis is an exploration company following the prospect generator business model, with mineral properties in the Yukon, Canada and Mexico. The Company acquires prospective exploration projects when metal prices are low or of strategic value, and vends or options out projects to partners for advancement.
On behalf of the Board,
Marc G. Blythe, P.Eng., MBA, President, Director and CEO
This news release was prepared by Company management, which takes full responsibility for content.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.