Vancouver, B.C. – July 29, 2022 – Mountain Boy Minerals Ltd. (“Mountain Boy” or the “Company”) (TSX.V: MTB, OTCQB: MBYMF, Frankfurt: M9U) is pleased to announce that the non-brokered private placement for Non-Flow Through Units totalling $1 million, as announced on July 26th, has been closed. The placement involved a single private investor. Each unit, priced 12 cents, will comprise one common share and one common share purchase warrant. Each warrant shall be exercisable to acquire one common share at a price of 12 cents per warrant share for a period of 24 months from the closing of the offering, expiring on July 29, 2024. All securities will be subject to a four-month hold period from the date of closing, expiring on November 30, 2022.
The proceeds raised from the financing will be used for working capital and prioritized to the Telegraph project, where exploration is currently underway.
About Mountain Boy Minerals
Mountain Boy has six active projects spanning 650 square kilometres (64,960 hectares) in the prolific Golden Triangle of northern British Columbia. An active field program is currently underway on the Telegraph project. The 285 square kilometre Telegraph Project is located in the vicinity of several large porphyry deposits including Galore Creek (Teck - Newmont), Schaft Creek (Teck - Copper Fox), Big Red (Libero Copper and Gold), Saddle and Saddle North (Newmont) and the operating Red Chris copper-gold mine (Newcrest - Imperial Metals).
On behalf of the Board of Directors:
President & CEO
For further information, contact:
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This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.