Sonora Gold Corp. CA$0.10 0.0000 (0.00%)

VANCOUVER, B.C., August 21, 2006 ~ Mont Blanc Resources Inc. (TSX-V: MTN), announces a flow-through financing whereby the company will raise up to $450,000 by issuing up to 1,000,000 Flow-Through Units at a price of $0.45 per Unit. Each Unit consists of one flow-through common share (that is, a share that is eligible for Canadian exploration expense tax credits as defined in Section 66(15) of the Income Tax Act of Canada) and one share purchase warrant. Each warrant entitles the holder to acquire one additional (non-flow-through) common share of the company at a price of $0.60 per Share for the first six months and for $1.00 from 6 months to 18 months. This financing is subject to regulatory approval.

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The proceeds of the flow-through private placement will be used to finance the drilling exploration program on the company's Taber Area Project.

About Mont Blanc
Mont Blanc (www.montblancresources.com) is an oil and gas exploration company focused on participating in low to medium risk oil and gas opportunities.

 

Company Contacts:

Mr. Lindsay Carswell
Corporate Development and Investor Relations
604-601-2079
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Mr. Jens Biertumpel
CEO
604-642-6165
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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.

 

 

 

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Sonora Gold & Silver Corp.
Suite 2300, Oceanic Plaza
1066 West Hastings St.
Vancouver, BC V6E 3X2

Tel: 778.373.5499