Manado Gold Corp


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Latest Developments

Manado Gold Corp Exercises Option of Clisbako Property

Manado Gold Corp announced that it has exercised its option to acquire a 75% interest in the Clisbako Property. The exercise of the option was completed pursuant to an amendment to the terms of the option agreement between Manado and Clisbako Minerals Inc. (CMI) whereby CMI accepted 300,000 shares of Manado and the work completed to date in full satisfaction of the option exercise. Manado's exploration program is primarily focused on gold and silver exploration.

Manado Gold Corp Proposes Private Placement

Manado Gold Corp announced that its board of directors has approved a proposed private placement offering up to 2,500,000 units at a price of $0.05 per Unit for gross proceeds of $125,000. Each Unit will consist of one common share of the Company and one non-transferable share purchase warrant, with each Warrant entitling the holder to purchase one additional Share at a price of $0.10 per Share for a period of three years following the closing date of the Offering. The proceeds of the Offering will be used for general working capital purposes. Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.

Manado Gold Corp Enters Into Agreement To Acquire Up To 50% Interest In Sheep Creek, Bayonne, YMIR And Rossland Mineral Properties

Manado Gold Corp announced that it has entered into an agreement with Yellowstone Resources Ltd whereby Yellowstone has granted Manado the option to enter into a definitive agreement to acquire up to a 50% interest in the Sheep Creek, Bayonne, Ymir and Rossland mineral properties located in the Nelson and Trail Mining Divisions, British Columbia. In consideration of the right to enter into the Definitive Agreement, Manado paid Yellowstone $10,000 on signing the agreement and will have 30 business days to complete its due diligence on the Properties.

Manado Gold Corp Commences Drilling On Clisbako Property

Manado Gold Corp announced that it has commenced diamond drilling on its Clisbako property which consists of ten contiguous mineral claims totalling 167 cells, or 3387.889 hectares, in the Cariboo Mining Division of British Columbia. The current diamond drill program consists of approximately 2,000m and will test mineralized zones of epithermal silica stockworks and breccias, and quartz veined volcanic rock identified by previous field work carried out by Manado.

Manado Gold Corp Completes Initial Public Offering

Manado Gold Corp announced that, on March 6, 2012, it successfully completed its initial public offering of 3,250,000 units of Manado at a price of $0.15 per Unit and 3,250,000 flow-through units of Manado at a price of $0.20 per Flow-Through Unit for total gross proceeds of $1,137,500. Each Unit is comprised of one common share in the capital of Manado and one-half of one transferable share purchase warrant and each Flow-Through Unit is comprised of one flow-through share within the meaning of the Income Tax Act (Canada) in the capital of Manado and one-half of one Warrant. Each whole Warrant entitles the holder to acquire a Share at a price of $0.20 per Share until September 6, 2013.

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