Marlin Gold Mining Ltd. Updates Disclosure of Ownership of Golden Reign Resources Ltd.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 14, 2014) - Marlin Gold Mining Ltd. (TSX VENTURE:MLN) (MLNGF) ("Marlin" or the "Company") announces that, further to its press release dated July 10, 2014, it has acquired ownership of 21,333,333 common shares (the "Acquired Shares") of Golden Reign Resources Ltd. ("Golden Reign") representing approximately 18.51% (as opposed to 19.9% as previously disclosed) of the issued and outstanding shares of Golden Reign (the "Shares") at the closing date.
The Acquired Shares were purchased at a price of C$0.15 per Acquired Share, for aggregate gross proceeds paid to Golden Reign of C$3,199,999.95. Marlin purchased the Acquired Shares by way of a non-brokered private placement (the "Private Placement") pursuant to section 2.10 of National Instrument 45-106 - Prospectus and Registration Exemptions. After giving effect to the Private Placement, Marlin owns and controls 21,333,333 Shares which represent approximately 18.51% of the Shares at the closing date of the Private Placement. The Shares are traded on the TSX Venture Exchange. The Acquired Shares were issued from Golden Reign's treasury and not acquired on the secondary market. The Acquired Shares were acquired by Marlin for investment purposes. Marlin may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Golden Reign.
Marlin also announces that it has completed its share consolidation on a 10:1 ratio. As of July 14, 2014 Marlin has 73,999,003 shares issued and outstanding.
About Marlin Gold
Marlin Gold is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Marlin's priority is to advance its properties toward commercial production and enhance shareholder value through financial optimization, namely through the growth of its wholly-owned subsidiary, Sailfish Royalty Corp. The La Trinidad property, which hosts the Taunus gold deposit, had a first gold pour on February 28, 2014. A NI 43-101 resource estimate and preliminary economic assessment for the Taunus gold deposit can be found at www.sedar.com or at www.marlingold.com.
For further information, or a copy of the early warning report to be filed by Marlin in connection with the Private Placement, contact the undersigned.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
