NEWS release
DARNLEY BAY RESOURCES CLOSES PRIVATE PLACEMENT
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES
Toronto, ON ? March 15, 2012 ? Further to its news release on February 9, 2012, Darnley Bay Resources (DBL - TSX-V) announces that it has completed a private placement of 1,580,000 Units @ $0.10 for $158,000. Each Unit is comprised of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of $0.15 for two years until March 15, 2014. The proceeds from the sale of the units will be used for general corporate purposes.
All securities issued in connection with the Offering will be subject to a statutory hold expiring on July 15, 2012 in accordance with applicable securities legislation.
The private placement offering is subject to the receipt of final approval of the TSX-V.
About Darnley Bay Resources Limited:
Darnley Bay Resources Limited was formed in 1993 to explore for base metals related to the 50 km x 80 km, 132 mGal Darnley Bay gravity anomaly near Paulatuk, Northwest Territories, Canada. The source of the anomaly remains unexplained. Darnley Bay is exploring for base and precious metals and diamonds on its 4,600 km2 land holding.
For more information, please contact:
Jay Richardson, President & CEO
Telephone: (416) 862-7885
Fax: (416) 862-7889
E-mail: jayr@darnleybay.com
Web site: www.darnleybay.com
Forward-Looking Information
This release includes certain statements that may be deemed ?forward-looking statements?. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Darnley Bay expects are forward-looking statements. Although Darnley Bay believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Darnley Bay, investors should review registered filings at www.sedar.com.
Neither the 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.
Greg O?Halloran
VP Corp. Development & Corp. Secretary
Darnley Bay Resources Limited
#1103- 4 King St. W
Toronto, ON Canada M5H 1B6
P: 416-862-7885
F: 416-862-7889
www.darnleybay.com