April 23, 2014, Vancouver, BC -- Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV:HTR) announces that it has completed a private placement of approximately 16 million units in its capital at a price of $0.07 per unit for gross proceeds of approximately $1.1 million. Each unit consists of one common share and one warrant, with each warrant exercisable to purchase an additional common share at a price of $0.10 for three years from the closing. The securities issued are subject to a four month hold period under Canadian securities laws.
Proceeds from the financing will be used to advance drill target generation at the Niblack Project's Dama zone and for working capital purposes.
The Niblack Project is located on tidewater near Ketchikan on Prince of Wales Island in southeast Alaska, an area with a skilled workforce, excellent power and transportation infrastructure as well as a long history of public and official support for responsible mineral resource development and mining.
Since 2009, Heatherdale has invested some $37 million and drilled more than 200,000 feet of core to define 5.6 million tonnes of Indicated and 3.4 million tonnes of Inferred mineral resources1at Niblack. While possessing significant potential for expansion, the known mineral resources at Niblack provide a solid basis for the initiation of engineering, environmental baseline and other technical studies necessary for project planning and permitting.
About Heatherdale Resources Ltd.
Heatherdale is a Vancouver-based exploration and development company focused on advancing the high-grade mine development opportunity at its 100%-owned Niblack Project. Heatherdale is associated with the Hunter Dickinson group, which has a track record of successful mineral exploration and development projects around the world.
For more information on Heatherdale Resources Ltd., please visit the Company's website at www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
On behalf of the Board of Directors
Chairman and Director
1Indicated grades 0.95% copper, 1.75 g/t gold, 1.73% zinc, 29.52 g/t silver and inferred grades 0.81% copper, 1.32 g/t gold, 1.29% zinc, 20.10 g/t silver at a US$50 NSR cut-off. For further details see the Heatherdale November 29, 2011 news release.