Val-d'Or, Quebec, April 26,
2007. NioGold Mining Corporation (\"NioGold\" or the \"Company\")
announces that it has closed a brokered private placement with a syndicate of
agents led by Pacific International Securities Inc. and including Canaccord
Capital Corporation (the \"Agents\") to raise gross proceeds of up to
$6,799,750.
The offering consisted of 6,667,000
flow-through units and 10,856,000 non flow-through units. Each flow through
unit was priced at $0.45 and consisted of one flow-through common share and
one-half of one transferable common share purchase warrant. Each non
flow-through unit was be priced at $0.35 and consisted of one non flow-through
common share and one-half of one transferable common share purchase warrant.
Each full warrant attached to the flow-through and non flow-through units
entitles the holder to purchase one additional non flow-though common share of
NioGold at a price of $0.70 for a period of 18 months from closing.
The Agents received a commission equal
to 7% of the gross proceeds of the brokered offering, paid in a combination of
$124,572 cash and 1,004,030 non flow-through units at a deemed price of $0.35
per unit. The Agents were further granted 1,752,300 compensation options each
entitling the holder to purchase a common share at $0.45 per common share for
a period of 18 months from closing.
The Company also announces the closing
of a non-brokered private placement for $800,000. The non-brokered offering
consisted of 2,285,714 non flow-through units at a deemed price of $0.35 per
unit having the same terms as the non flow-through units issued in the
brokered offering.
All securities issued pursuant to the
private placement will be subject to a four month hold period.
The gross flow-through funds raised
from the issuance of the flow-through units will be used for general
exploration expenditures which will constitute Canadian exploration expenses
(as defined in the Income Tax Act) and will be renounced for the 2007 taxation
year.
The funds raised from the issuance of
non flow-through units offering will be used for general working capital
purposes.
The TSX Venture Exchange has not
reviewed, and does not accept responsibility for the adequacy or accuracy of
the content of this news release.
This news release does
not constitute an offer to sell or a solicitation of an offer to sell any of
securities in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
NioGold Mining Corporation - �
The Golden Highway Runs Through NioGold �
NioGold Mining Corporation is a junior
exploration company primarily focused on GOLD. The Company's main properties
are the Camflo West and the Marban Block located in the Malartic and Val-d'Or
Mining Camps, Quebec.
NioGold's experienced and qualified
technical team will ensure the successful advancement of the Company's
projects towards the highest quality mineral resources. NioGold invites you to
visit the company website at www.niogold.com
For information on NioGold Mining Corp. contact: