Dalradian Resources Dalradian Announces Proceeds of $24.5 Million from Warrant Exercises
September 15 2016 - 2:00AM
UK Regulatory
TIDMDALR
Dalradian Announces Proceeds of $24.5 Million from Warrant Exercises
FOR: DALRADIAN RESOURCES INC.
TSX SYMBOL: DNA
AIM SYMBOL: DALR
September 15, 2016
Dalradian Announces Proceeds of $24.5 Million from Warrant Exercises
TORONTO, ONTARIO--(Marketwired - Sept. 15, 2016) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or
the "Company") announces that a total of 23,528,825 Dalradian's common share purchase warrants originally
issued on 7 October 2015 (the "October Warrants") were exercised by several shareholders at a price of C$1.04,
resulting in proceeds to the Company of C$24,469,978.
Application will be made for 23,528,825 Common Shares further to the exercise of the October Warrants, which
will rank pari passu with the existing Common Shares in issue, to be admitted to trading on AIM and admission
is expected to occur at 8:00am on or around 21 September 2016 (the "October Warrant Admission").
Following the October Warrant Admission, the Company will have in issue 241,494,276 Common Shares. This figure
may be used by shareholders as the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
About Dalradian Resources Inc.
Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its high-
grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is completing a work
program in support of a planning (permitting) application for construction of an operating mine at
Curraghinalt. Components of the program include a feasibility study, an environmental and social impact
assessment and underground exploration (960 metres of development with associated test stoping).
In May 2016, Dalradian announced an updated mineral resource estimate for Curraghinalt, including a 109%
increase in gold ounces contained in the Measured and Indicated categories compared with the 2014 resource. The
current resource consists of 2.1 million ounces of contained gold in the Measured and Indicated categories
(5.61 million tonnes at 11.61 g/t) and 2.3 million ounces of contained gold in the Inferred category (7.13
million tonnes at 10.06 g/t gold). For further information, see the NI 43-101 technical report entitled,
"Technical Report for the Northern Ireland Gold Project, Northern Ireland", dated June 17, 2016 and prepared by
Dr. Jean-Francois Couture, PGeo (APGO#0197) and Dr. Oy Leuangthong, PEng (PEO#90563867), both of SRK Consulting
(Canada) Inc. and Stacy Freudigmann, PEng (APEGBC #33972) of JDS Energy & Mining Inc.
FORWARD-LOOKING STATEMENTS
This news release contains "forward looking information" which may include, but is not limited to, statements
with respect to the future financial or operating performance of the Company and its subsidiaries and its
mineral project, the future price of metals, test work and confirming results from work performed to date, the
estimation of mineral resources, the realization of mineral resource estimates, the timing and amount of
estimated future production, costs of production, capital, operating and exploration expenditures, costs and
timing of the development of new deposits, costs and timing of future exploration, requirements for additional
capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes
or claims, limitations of insurance coverage, the timing and possible outcome of pending regulatory matters and
the realization of the expected economics of the Curraghinalt gold deposit. Often, but not always, forward
looking statements can be identified by the use of words and phrases such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations
(including negative variations) of such words and phrases, or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward looking statements are based on the opinions and estimates of management as of the date such statements
are made and are based on various assumptions such as the continued political stability in Northern Ireland,
that permits required for Dalradian's operations will be obtained on a timely basis in order to permit
Dalradian to proceed on schedule with its planned exploration and development programs, that skilled personnel
and contractors will be available as Dalradian's operations continue to grow, that the price of gold will be at
levels that render Dalradian's mineral project economic, that the Company will be able to continue raising the
necessary capital to finance its operations and realize on mineral resource estimates and current mine plans,
that the assumptions contained in the Company's Preliminary Economic Assessment are accurate and complete, that
results from the infill drilling program continue to be positive, that the mineral resource update is positive,
that the results of the Environmental and Social Impact Assessment and the Feasibility Study will be positive
and that a permitting application for mine construction will be approved.
Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Dalradian to be materially different from any future results,
performance or achievements expressed or implied by the forward looking statements. Such factors include, among
others, general business, economic, competitive, political and social uncertainties; the actual results of
current and future exploration activities; the actual results of reclamation activities; conclusions of
economic evaluations; meeting various expected cost estimates; changes in project parameters and/or economic
assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or
recovery rates; the risk that actual costs may exceed estimated costs; failure of plant, equipment or processes
to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political
instability; delays in obtaining governmental approvals or financing or in the completion of development or
construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the
Company's annual information form. Although the Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those described in forward looking
statements, there may be other factors that cause actions, events or results to differ from those anticipated,
estimated or intended. Forward looking statements contained herein are made as of the date of this news release
and the Company disclaims any obligation to update any forward looking statements, whether as a result of new
information, future events or results, except as may be required by applicable securities laws. There can be no
assurance that forward looking statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Marla Gale
Vice President Communications
+1 416 583 5622
investor@dalradian.com
OR
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat / Harrison Clarke
+44 (0)20 7383 5100
OR
Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 20 7523 8000
Dalradian Resources Inc.
(END) Dow Jones Newswires
September 15, 2016 02:00 ET (06:00 GMT)
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