EDMONTON, ALBERTA--(Marketwired - March 17, 2014) - TRIGOLD RESOURCES INC. (the "Company" and "Trigold") (TSX VENTURE:TGD) is pleased to announce that it has completed its non-brokered private placement consisting of 6,000,000 shares at a price of $0.05 per share, for gross proceeds of $300,000. The shares issued pursuant to this private placement are subject to a hold period expiring on July 15, 2014.
The Company paid finder's fees in the amount of $4,800 to an arm's length party in connection with this private placement.
The net proceeds of the private placement are for the evaluation of exploration assets and for general corporate purposes.
About Trigold Resources: Trigold is working towards completion of a Definitive Agreement for the acquisition of a 90% interest in mineral tenements to be acquired by a Canadian Corporation that is negotiating for the tenement transfer of mineral exploration permits in Papua New Guinea (PNG). The Agreement is subject to acceptable financing and approval from the PNG Mineral Resources Authority.
The PNG projects are advanced gold, silver and copper projects with considerable historical exploration. The most advanced project includes ninety-three drill holes totaling 8,500 meters that were completed within the licence area. Results from historic drilling include: 133m at 1.83 g/t gold, 72m at 1.79g/t gold, and 43m at 2.35g/t gold. In addition, trenching results include: 131m of 2.36g/t gold, 40m at 8.89g/t gold; and 97m at 3.39g/t gold.
The completion of a Definitive Agreement is subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
Jim Greig, President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.