Vancouver, BC, October 16, 2008 - Sonora Gold & Silver Corp. ("Sonora" or the "Company") is pleased to announce that it has completed its non-brokered private placement originally announced on August 20, 2008. The Company issued 6,500,000 Units at a price of $0.05 per Unit. Each Unit consists of one common share and one-quarter of one share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one additional common share of the Company at an exercise price of $0.15 per share for a period of one year from the date of issue. The shares, and any shares issued upon exercise of the share purchase warrants, are subject to a hold period expiring February 11, 2009.
The proceeds of the private placement will be used for working capital.
Sonora Gold & Silver Corp.
"Ken Churchill" President,Chief Executive Officer and Director
For further information please contact:Ken Churchill604-601-2079
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
(This release is not a solicitation to United States residents to purchase securities in the Company).
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Any statements regarding the company's future financial position, revenues, earnings, plans and objectives are forward-looking statements. Mont Blanc will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian Securities regulatory authorities by Mont Blanc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. (This release is not a solicitation to United States residents to purchase securities in the Company).
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Sonora Gold & Silver Corp.Suite 2300, Oceanic Plaza1066 West Hastings St.Vancouver, BC V6E 3X2
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