RE:New Press Release - Magnum Goldcorp Inc. Announces Non-Brokered Private Placements The Company intends to use the proceeds from these private placements for further exploration on its "LH Property" and for general working capital purposes.
Magnum has an approved 2-year Multi-Year Area Based (MYAB) work permit for its LH Property issued by the Ministry of Energy and Mines and Petroleum Resources. Under this approval, Magnum proposes to drill an additional 6 diamond drill holes from two existing pads. Dependent upon results, an additional pad may be constructed from which additional holes may be drilled. The program is expected to commence in late June - early July dependent upon snow melt conditions.