Published: May 9, 2016 |

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Sandspring Resources Ltd. has closed an oversubscribed non-brokered private placement for gross proceeds of C$6.5 million.

The company intends to use the proceeds to undertake an exploration program on its Toroparu Gold Project in Guyana, South America and for general working capital.

“That the Sandspring private placement was oversubscribed underscores the leverage that Sandspring provides to a strengthening gold price. Sandspring is now financed well into 2017, including a moderate exploration program in 2016 at the Toroparu Gold Project,” said Rich Munson, director and chief executive officer of Sandspring.

About Sandspring Resources Ltd.
Sandspring Resources Ltd. is a Canadian junior mining company currently moving toward a definitive feasibility study for the multi-million ounce Toroparu Project in the Republic of Guyana. A gold and silver purchase agreement with Silver Wheaton and the transaction with PNO Resources Ltd. that closed in September 2015 provide Sandspring with a strong base as it proceeds with the ongoing development of the Toroparu Project. Significant exploration potential, along with copper credits, provides additional upside potential for the Toroparu Project.

To stop by Sandspring Resources’ website, CLICK HERE

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