April 6, 2009
Darnley Bay Resources Limited (the “Company”) announces that it has agreed on the principal terms of a private placement for 170,000 common shares @ $0.10 ($17,000). The transaction is subject to certain conditions, including regulatory approval.
The proceeds of the subscriptions will be used for working capital. Each unit comprises one common share and one common share purchase warrant; each common share purchase warrant is exercisable for four years from the closing date at an exercise price of $0.20 per common share.
About Darnley Bay Resources Limited:
The Company was formed in 1993 to explore and develop an area of geophysical significance in the Northwest Territories of Canada. Initial base metal exploration fortuitously resulted in the discovery of diamonds, indicating that the area is host to both metallic and non-metallic mineral deposit interests. The Company’s objectives are to secure and maintain successful financing partnerships to continue exploration for base metals, gold and diamonds that will result in the development of a profitable mining venture.
For more information contact:
Stephen Reford, President & CEO
Telephone: (416) 862-7885
Fax: (416) 862-7889
E-mail: sreford@darnleybay.com
Web site: www.darnleybay.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.
Greg O'Halloran
Vice President, Corporate Development
Darnley Bay Resources Limited
1103-4 King Street West
Toronto , ON M5H 1B6
P: 416-862-7885
F: 416-862-7889
www.darnleybay.com
