Sydney, Australia, July 04, 2017 (GLOBE NEWSWIRE) -- Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the
“Company”) is pleased to announce that it has today completed the first component of Tranche 1 of the Woodlawn Project
financing with the issue of 45,856,116 shares to Castlelake L.P.
As noted in the Company’s release of 30 June 2017, the Cornerstone Investor Placement will occur in two tranches as follows:
- The first tranche will consist of approximately 104 million shares, with approximately 30 million shares allocated to
Greenstone, approximately 28 million shares to Orion, and approximately 46 million shares to Castlelake.
- The second tranche will consist of approximately 1,372 million shares, with approximately 571 million shares allocated to
Greenstone and its co-investment parties, approximately 380 million shares to Orion, and approximately 421 million shares to
Castlelake.
The issue of shares to Greenstone and Orion under the first tranche will occur contemporaneously with completion of the second
tranche unless either Greenstone and/or Orion elect to be issued their respective shares under the first tranche earlier. The
second tranche is scheduled to settle on the same day as completion of the Institutional Placement.
About Castlelake L.P.
Founded in 2005, Castlelake is a global private investment firm that currently manages more than US$10.3 billion (as of 31 March
2017) in assets on behalf of more than 125 endowments, foundations, public and private pension plans, private funds, family
offices, insurance companies and sovereign wealth funds.
About Heron Resources Limited
Heron is engaged in the exploration and development of base and precious metal deposits in Australia. Heron’s primary
development project is the high-grade Woodlawn Zinc-Copper Project located 250km southwest of Sydney, New South Wales.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This report contains forward-looking statements and forward-looking information within the meaning of applicable Canadian
securities laws, which are based on expectations, estimates and projections as of the date of this report. This forward-looking
information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management’s expectations
with respect to, among other things, the timing and amount of funding required to execute the Company’s exploration, development
and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or
policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals,
the success of exploration, development and mining activities, the geology of the Company’s properties, environmental risks, the
availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices
thereof, progress in development of mineral properties, the Company’s ability to raise funding privately or on a public market in
the future, the Company’s future growth, results of operations, performance, and business prospects and opportunities. Wherever
possible, words such as “anticipate”, “believe”, “expect”, “intend”, “may” and similar expressions have been used to identify such
forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the
information is given, and on information available to management at such time. Forward-looking information involves significant
risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ
materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to,
fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on
favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or
economic developments in Canada, Australia or other countries in which the Company does business or may carry on business in the
future, operational or technical difficulties in connection with exploration or development activities, employee relations, the
speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and
grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks
involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and
other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and
flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and
should be considered carefully. Many of these uncertainties and contingencies can affect the Company’s actual results and could
cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf
of, the Company. Prospective investors should not place undue reliance on any forward-looking information. Although the
forward-looking information contained in this report is based upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such
forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and
neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking
information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or
forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. No
stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the
information contained in this report.
For further information regarding Heron please visit www.heronresources.com.au or contact: Heron Resources Mr Wayne Taylor Managing Director and CEO Heron Resources Ltd Tel: +61 2 9119 8111 Email: heron@heronresources.com.au Heron (Canada) Tel: +1 647-862-1157(Toronto)
