Gryphon Gold Corp GYPHQ

Metals & Mining Gold

Gryphon Gold Corporation is a mine development company. The Company's principal asset is Borealis property. The Borealis Property is 27.5 square miles located in the Walker Lane gold belt of western Nevada. The Company's land position covers approximately 17,600 acres for the Borealis property and over 60 Nevada exploration properties, which cover approximately 70 square miles in the state's gold trends. The Borealis property has approximately 1.4 million ounces of measured and indicated gold resources, and approximately 1.1 million ounces of inferred gold resources have been accredited to the one square mile Central Borealis zone. Its Borealis property has over five other prospective zones that are being explored, which have the potential to host significant gold resources. The Company continued drilling on the Borealis property in the Graben resource, and in the central and western pediment areas.

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Gryphon Gold Corp

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Comment by archimedes0070on Jan 21, 2011 4:45pm

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Post# 18009652

RE: RE: Road to Production...

Maybe they got Phase 1 or the whole project funded. It is difficult toimagine a small placement with warrants knowing a major issue could becoming.

Kiwi3,

I agree. Surprised?

What is possible is this small private placement (for general purposes, working capital, etc.) may have led to more interest (witness: the increased size of the PP), which may have led to discussions regarding the end goal of financing for the next stage (production).

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