VANCOUVER, Sept. 9, 2011 /PRNewswire-FirstCall/ - Coronado Resources Ltd. has arranged a private placement of 4 million shares at $ 0.14 which includes 4 million share warrants exercisable at $ 0.18 per share for a period of 2 years. Funds will be used to acquire mining equipment, further exploration and development at the Madison mine as well as general operating expenses.
About: Coronado Resources Ltd. is a Canadian-based exploration, development and mining company trading on the TSX Venture Exchange. Its wholly-owned Madison property in Montana, USA is receiving revenue from high-grade gold and copper shipments which have, since 2008, funded the development of its underground workings to access drill discovery.
On Behalf of the Board "Eugene Larabie" Eugene Larabie, P. Eng., President Coronado Resources Ltd. #507 - 595 Howe Street, Vancouver, BC V6C 2T5
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. The foregoing information may contain forward-looking statements relating to the future performance of Coronado Resources Ltd. Forward-looking statements, specifically those concerned with future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in filings with the appropriate securities commission.
SOURCE CORONADO RESOURCES LTD.