Gold Mining Stock KINGSMEN RESOURCES (TSXV: KNG), (OTC: KNGRF) Announces Increase in Private Placement

Core Viewpoint - Kingsmen Resources Ltd. has successfully closed a non-brokered private placement financing, raising gross proceeds of $4,151,250 to advance its silver/gold projects in Mexico and for working capital [3]. Financing Details - The private placement involved the issuance of 3,075,000 units at a price of $1.35 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant [3]. - Each whole warrant allows the holder to purchase an additional common share at a price of $1.90 for two years from the closing date [3]. - A total of $191,179.36 in cash and 141,614 non-transferable finder's warrants were paid on a portion of the private placement, with the finder's warrants also exercisable at $1.90 for two years [3]. Project Focus - The net proceeds from the financing will be utilized to further advance the Las Coloradas Silver/Gold project in Mexico, which is part of Kingsmen's strategy to enhance its mineral exploration efforts [3][6]. - Kingsmen Resources is focused on its 100% held projects, including the Las Coloradas and Almoloya gold/silver projects, located in a historically rich mining district in Parral, Mexico [6]. Company Overview - Kingsmen Resources is a publicly-traded mineral exploration company headquartered in Vancouver, British Columbia, with a focus on high-grade silver and gold deposits [6]. - The company also holds a 1% NSR on the La Trini claims, which are part of the Los Ricos North project operated by GoGold Resources Inc. in Mexico [6].