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| ||Wed Nov 17, 2004|
Dasher Closes 3,000,000 Unit Private Placement
| ||Dasher Exploration Ltd. (the "Company") announces that it has closed a private placement of 3,000,000 units priced at $0.80 each, announced September 21, 2004, for gross proceeds of $2,400,000. The units are subject to a hold period that will expire on March 17, 2005. Management is pleased with the participation of a number of significant institutional buyers.|
Pacific International Securities Inc. ("PI"), the agent for the private placement, was entitled to a commission equal to 7.5% of the gross proceeds, payable in cash or units. PI also received a corporate finance fee of $10,000 and 300,000 compensation options.
The Company will use the net proceeds of this financing to fund its planned exploration program on its La Juliana property in Mexico and for working capital.
About the La Juliana Property
The La Juliana property is a volcanic-hosted bulk tonnage, epithermal gold prospect covering 700 hectares in eastern Sonora State, Mexico, in the Mulatos mining district. The Company has the right to earn a 60% interest in the property from Chesapeake Gold Corp. A field program, which includes mapping, geophysics, geochemical sampling and trenching, is currently underway. The results of this field program will set the foundation for a drill program expected to start in early 2005.
ON BEHALF OF THE BOARD OF DIRECTORS
For information with respect to the Company or the contents of this news release, please contact John Lando or Don Flahiff at (604) 669-2701 or toll free at 1-800-663-0510 or visit the web site at http://www.dasherexploration.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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