Rathdowney Provides Project Update, Completes $6.9 Million Private Placement to Advance Project Olza

Rathdowney Resources (“Rathdowney” or the “Company”) (TSXV: RTH) is pleased to provide an update on activities on its flagship Olza zinc-lead-silver project in Poland, and to report that it has completed a private placement to assist with advancing the project.  Rathdowney has issued a total of 36,313,345 units (the “Units”) of the Company’s capital, for aggregate proceeds (including two previously announced tranches) of approximately $6.9 million.
Project Olza is located in a proven mining district with excellent infrastructure and access to smelters and markets.  Programs completed from 2011 to present have met all terms of its exploration concessions, giving the Company the sole right to advance Olza towards an exploitation concession.  The 2015 PEA is forming the basis of Rathdowney’s Deposit Development Plan.  The Company has also completed baseline data collection since 2013, and is on track to finalize the studies for an Environmental and Social Impact Assessment.
As quoted in the press release:

“Having completed all terms of its Exploration Concessions, and its Geological Documentation formally approved, the project has been substantially de-risked,” said Chairman David Copeland. “Project Olza is located in a proven mining district, and Rathdowney now has a clear and exclusive pathway towards an exploitation concession. With a significant financing completed, the Company will refocus its efforts toward achieving that objective.”

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