|June 24, 2010|
Armadillo Completes Oversubscribed Private Placement
|June 24, 2010, Vancouver, BC - (TSX.V: ARO) Les Kjosness, President & CEO is pleased to announce, subject to regulatory approval, the Private Placement announced April 20, 21010 for $300,000 has been increased to $626,500.00. Phase One of the private placement, for $116,500.00, was completed May 17, 2010. The second phase for $250,000.00 has also now been completed and the third phase is expected to be completed in the next few days. The funds will be used for general corporate and administrative purposes. |
A finder's fee may be payable.
The Company is also finalizing plans for 2010 exploration at its Waverley-Tangier vein-hosted gold, silver, lead, zinc project in the Revelstoke mining District of east central British Columbia. A 761.6-metre diamond drill program completed in 2009 identified a mineralized zone over a strike length of 100metres to a depth of 50 metres with an average thickness of 10 metres open at both ends and at depth. Management is particularly encouraged by the +5 metre intervals in holes 2, 5 and 8 that average in excess of 0.5 grams gold per tonne.
The full Armadillo Resources story is available at: www.armadilloresources.com
On behalf of the Board,
President and Director
For further information:
Les Kjosness: 604-408-6500
Kirsti Mattson: 604-202-2484 media
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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