Gold Summit Closes First Tranche of Private Placement

Gold Summit Corporation (TSX VENTURE:GSM) reported that the company has closed the first tranche of a non-brokered private placement of up to 1,520,000 units at a price of $0.125 per unit.

The press release is quoted as saying:

GSM currently explores primarily in Nevada for high grade gold and gold/silver deposits that would support underground, low cash cost operations. GSM has recently announced resources at the Monte Cristo and Sugarloaf (Tip Top) properties and holds part of four more Tertiary epithermal vein districts, all with drill ready targets defined by surface work.

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