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Gold/Mining/Energy : Canadian Rocket Red's Picks

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From: Rocket Red	9/19/2006 2:39:10 PM
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Lateegra insiders to sell 1.2 million shares 2006-09-19 14:31 ET - News Release Shares issued 16,732,710 LRG Close 2006-09-18 C$ 0.72 Mr. Michael Townsend reports LATEEGRA ANNOUNCES FINANCING SWAP STARTS, PROGRAM IN ECUADOR Certain insiders of Lateegra Gold Corp. have arranged a sale of 1.2 million shares of Lateegra at a price of 70 cents per share through the facilities of the TSX Venture Exchange. The proceeds from this sale will be used to partially finance a brokered private placement of up to 800,000 units at 70 cents per unit for gross proceeds of $560,000 dollars. Each unit will consist of one common share and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share of Lateegra at a price of 85 cents for a period of two years. Company field crews, headed by Jeffrey Reeder, PGeo, are being assembled for immediate dispatch to the company's wholly owned El Condor project positioned three kilometres from Aurelian Resources Inc.'s recent and world-class discovery at the Fruta Del Norte project in southern Ecuador. Also of significance is today's release by Plexmar Resources Inc. containing field results from the Escondida project which is five km northeast of the FDN discovery and highlighted by samples form pebbles and boulders assaying values of 396 grams per tonne gold. Additionally, a recent field review by Dr. Richard H. Sillitoe suggesting the "mineralized corridor at FDN extends approximately four km farther south where arsenic and antimony anomalies are thought to merit immediate scout drill testing in search of blind gold mineralization" potentially encompass Aurelian's El Tigre target southeast of FDN and immediately adjacent Lateegra's El Condor project. We seek Safe Harbor.

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