Tarku Announces Non-Brokered Private Placements for a Maximum of $2,500,000

Tarku Resources Ltd (TSXV: TKU) (the "Company" or "Tarku") ") is pleased to announce that it is undertaking a non-brokered private placements of units (the "Offering"), for a maximum of $2,500,000 .

Pursuant to the placement of units, Tarku is offering a maximum of 25,000,000 units at a price of $0.10 per unit, for a maximum of $2,500,000 . Each unit consists of one common share and one-half common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one common share at a price of $0.15 per common share for a period of 24 months after the closing.

The Company will use the proceeds of the Offering for purposes of working capital and to maintain and preserve its existing operations and assets and for exploration expenditures on its current properties.

Subject to compliance with applicable securities laws and the approval of the TSX Venture Exchange (the "TSX-V"), cash finders' fees may be payable to eligible persons with respect to subscriptions accepted by the Company. It is anticipated that certain insiders may participate in the Offering. All the securities sold under the Offering (including any common shares issuable upon exercise of the common share purchase warrants) will be subject to a four month and a day hold period following the closing.

The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act of 1993, as amended ( the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, for the account or benefit of, United States persons absent such registration or any applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy securities nor shall there be any sale of the securities referenced herein in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. The Offering is subject to certain conditions including, but not limited to, the receipt of all applicable regulatory approvals including approval of the TSX-V.

About Tarku Resources Ltd. (TSX.V : TKU)

Tarku is an exploration company focused on making new discoveries in favourable mining jurisdictions. In Quebec , Tarku owns 100% on the " Three A 's" exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona , Tarku owns the option to acquire 75% over 3 year on the Silver Tombstone project.

Tarku has a tightly held capital structure with 28,074,036 outstanding shares, of which approximately 80% are owned by 20 insiders and major shareholders.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku's periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

SOURCE Tarku Resources Ltd.

News Provided by Canada Newswire via QuoteMedia

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