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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: koan	12/20/2006 8:37:24 PM
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LTH NEWS - $4 million to start a major drilling program on their zinc property. John Kaiser thinks there coudl be 2 billion of ore there? Here we go?? Lithic Resources Ltd (C-LTH) - News Release Lithic bumps up financing to $3.9-million 2006-12-20 15:43 ET - News Release Shares issued 21,860,819 LTH Close 2006-12-19 C$ 0.43 Mr. Chris Staargaard reports LITHIC INCREASES FINANCING TO $3.9 MILLION Lithic Resources Ltd., due to demand, has increased the non-brokered private placement previously announced in Stockwatch on Dec. 1, 2006, from $3.5-million to up to $3.9-million. The private placement will now consist of up to 9.75 million units at 40 cents per unit, each unit consisting of one common share of the company and one-half of one non-transferable share purchase warrant. Each full warrant will entitle the placee to acquire one additional common share of the company for a period of 24 months at an exercise price of 60 cents during the first year and an exercise price of 80 cents during the second year. The units issued on the offering will be subject to a four-month hold period. The net proceeds of the private placement will be used to carry out a major program of drilling at the company's advanced Crypto zinc project in Utah, as well as for a reserve for acquisitions and general working capital. Portions of this private placement are subject to a finder's fee in accordance with TSX Venture Exchange policy. The placement is subject to acceptance by the TSX-V.

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