Calgary , Alberta CANADA, Jun 23, 2011 (Filing Services Canada via COMTEX) — Boxxer Gold Corp. (BXX – TSX Venture)(BXXRF – OTCBB_Pink_Sheets), wishes to announce that it has signed an engagement letter with D&D Securities Inc., a Toronto, Ontario based registered investment dealer, to assist Boxxer on a best efforts basis in raising up to $1,200,000 from an offering of up to 4,000,000 Units, priced at $0.30 per Unit.Each Unit consists of one common share issued on a flow-through basis and one-half of one non-flow-through common share purchase warrant.Each full warrant is exercisable at $0.40 into one non-flow-through common share at any time prior to the earlier of: (i) the date that is eighteen months from the date of the issuance of the Units; and (ii) in the event that the closing price of the common shares of Boxxer on the TSX Venture Exchange is at least $0.45 for a minimum of 10 consecutive trading days, Boxxer may, in its sole discretion, provide written notice to the warrantholders that the exercise period has been reduced to 25 days following delivery of such notice.The proceeds of the offering will be used for exploration on Boxxer’s recently acquired DOK porphyry copper property in NW B.C., and the East Breccia copper-silver-molybdenum property in south-central Ontario.The East Breccia property transaction is still subject to regulatory approval.A 7% commission and 10% Broker Warrants will be payable on the closing of the offering.Each Broker Warrant is exercisable into one common share of Boxxer for a period of eighteen months at a price of $0.30 per share.
Flow-Through Exploration Activity
As announced in recent news releases (See news release dated May 26, 2011), exploration on the DOK property in NW B.C. will consist of an airborne geophysical survey which is planned for late July, and a Quantec Titan-24 ground geophysical survey to be completed in early to mid-September. Certain detailed geological sampling and mapping may also be undertaken during the summer months.
Exploration on the East Breccia property will consist of geological mapping and the research of old drill collars on the property, with the objective of twinning certain drill holes based on assays from extensive historical drilling results from previous drilling exploration carried out on the property. (See news release dated June 16, 2011).
Elmer B. Stewart, MSc. P. Geol., President of Boxxer, is Boxxer’s nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, who has reviewed and verified the technical information disclosed in this news release.
About Boxxer Gold Corp.
Boxxer Gold is a Canadian junior resource company involved in the exploration of the Boss and Buena Vista copper projects in the state of Nevada, the DOK copper-gold porphyry property in Northwest B.C., the East Breccia copper-silver-molybdenum property in Ontario,and a shear hosted gold project located 110 kilometres north of Yellowknife NWT, Canada.
For more information on Boxxer please visit our website at www.boxxergold.com or contact:
Boxxer Gold Corp
Boxxer Gold Corp
John L. Maslanyk
Vice President & Chief Information Officer
Tel: 1- 403- 804-2251
Torrey Hills Capital
Senior Account Manager
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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