Vancouver, BC, August 20, 2008 - Sonora Gold & Silver Corp. (the "Company") (TSX Venture: SOC), announces a nonbrokered private placement whereby the Company will raise gross proceeds of up to $300,000 by issuing up to 6,000,000 Units at a price of $0.05 per Unit. Each Unit will consist 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. This financing is subject to regulatory approval.
The proceeds of the private placement will be used for working capital.
Sonora Gold & Silver Corp.
Ken ChurchillPresident,Chief Executive Officer and Director
Company Contacts:Ken Churchill604-642-6165
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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