DONNER MINERALS LTD.
Donner Announces Private Placements
Number: 008-99
Dated: April 29, 1999 VSE Symbol: DML
NEWS RELEASE
Mr. David Patterson, Chief Executive Officer of Donner Minerals Ltd., announces that the Company has negotiated, subject to the approval of the Vancouver Stock Exchange, a non-brokered private placement in the amount of $1,100,000 with 3 placees; Teck Corporation, Falconbridge Limited and Noranda Inc. These funds will be raised by the Company issuing a total of 2,750,000 units at a price of $0.40 per unit. Each unit is comprised of one common share and one non-transferrable share purchase warrant entitling the holder to purchase one additional common share of Donner at a price of $0.40 per share for the first year and $0.50 per share for the second year.
In addition, the Company has negotiated, subject to the approval of the Vancouver Stock Exchange, a second non-brokered private placement in the amount of $250,000. These funds will be raised by the Company issuing a total of 1,000,000 units at a price of $0.25 per unit. Each unit is comprised of one common share and one non-transferrable share purchase warrant entitling the holder to purchase one additional common share of Donner at a price of $0.25 per share for the first year and $0.32 per share for the second year. The sole placee in the second private placement is Teck Corporation.
The funds raised by way of these private placements will be used to further exploration on the Company's property interests located in northwestern Quebec and in South Voisey Bay, Labrador and for general working capital purposes.
ON BEHALF OF THE BOARD OF
DONNER MINERALS LTD.
"David Patterson"
Chief Executive Officer
Investor Relations
E-Mail: donner@bed-rock.com
Web Site: www.donner-minerals.com
Phone: 604-683-0564
Fax: 604-602-9311
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