Vancouver, British Columbia, March 27, 2012 – Hi Ho Silver Resources (CNSX:HHS) (Frankfurt:H9T) announced a non-brokered private placement. This placement will be for flow-through shares, and will consist of 14.3 million units at $0.07. Each unit will consist of one flow-through common share and one share purchase warrant exercisable for a one year period at a price of $0.15.
The company will use the proceeds of this financing for the 12 hole drill program on the company’s Royal Attwood property in south central British Columbia. The 1,800 hectare copper-gold property is located southeast of Greenwood, near the town of Grand Forks, five kilometres south of the historical Phoenix copper-gold mine. HiHo holds an option from Golden Dawn Minerals to acquire a 50% interest in this property, by funding 57.5% of the exploration costs totalling up to $1 million.
The Royal Attwood Claim Group has been the subject of comprehensive large-scale historical geochemical and geophysical surveys. During this past winter, a Titan 24 geophysical survey, costing approximately $300,000, and covering a total of 14.4 line-kilometres was conducted jointly by Hi Ho and Golden Dawn.
Quantec Geoscience’s Titan 24 is renowned for imaging the subsurface at depths greater than traditional technologies. Quantec clients obtain detailed information on resources, alteration, structure and geology leading to a more cost-effective drill targeting. A total of 30, including 2 high and 15 moderate high, priority anomalies were identified for follow up exploration including drill testing.
Hi Ho Silver will also be exhibiting at the World MoneyShow (www.moneyshow.com) in Vancouver, British Columbia, held at the Vancouver Convention Centre East, from March 27th to March 29th.
The show, with more than 100 free workshops and special events, will be open during the following hours,:
Tuesday March 27….8:30 am – 7:00 pm
Wednesday March 28..8:30 am – 6:00 pm
Thursday March 29…9:00 am – 12:30 pm
The exhibit hall will be open on Tuesday from 11:45 am to 7:00 pm, and on Wednesday from 10:15 am to 5:30 pm. Hi Ho Silver invites visitors to drop by their Booth #413 to discuss their gold-copper project in British Columbia.
Hi Ho Silver will also host a special presentation, with Stewart Jackson, P.GEO, Ph.D., on Wednesday, March 28, 2012, 3:00 pm – 3:45 pm. Click here to view the company’s video invitation.
The shares currently trade at $0.045, and with approximately 66 million shares outstanding, the company is capitalized at $3 million.
For more information on this, and the company’s other properties, please visit Hi Ho’s website at www.hihoresources.com, phone President Dennis McKnight at 604-630-6788 or email firstname.lastname@example.org.
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Barry Morgan, CFO