Feb. 11, 2010 (TheNewswire.ca) --
Vancouver, B.C. - JOURNEY RESOURCES CORP. (OOTC:JNYRF) (TSXV:JNY) ("Journey" or the "Company") announces that further to our press release dated January 21, 2010, Journey is pleased to announce the closing of the balance of the private placement with gross proceeds of $1,333,350. The company has issued 8,607,000 units at five cents per unit for gross proceeds of $430,350 completing the second and final tranche, with a hold period expiring on June 12, 2010. Each unit will consist of one common share of the company and one share purchase warrant. Each whole warrant will allow the holder to purchase one additional share of the company over 24 months from the date of closing, at an exercise price of ten cents per share in the first year, and at an exercise price of fifteen cents per share in the second year. The warrants in the second tranche as issued to subscribers expire on June 12, 2012.
Finder's fees totalling $38,135 will be paid, and the company will issue a total of 762,700 finders' warrants on a portion of the funds raised to eligible finders in the second tranche, on the same terms as that of the warrants issued to subscribers to the second tranche.
About Journey Resources Corp.
Journey Resources Corp. www.journeyresourcescorp.com is a mineral-exploration resource company trading on the TSX Venture Exchange (Symbol : JNY) and the Frankfurt Stock Exchange (Symbol : JL4). The Company is currently exploring four advanced exploration-stage projects; the Musgrove Gold Project, the Charay Gold Project, the Vianey Mine Silver Project and the Silver Mountain Project. The Musgrove Project is a prospect for a disseminated gold bulk-tonnage surface project similar to the Beartrack Mine, a nearby former gold producer. The Charay property consists of concessions totaling 380 hectares, located in Sinaloa, Mexico. The Vianey Mine Project consists of concessions totaling 5,022 hectares in Guerrero State west of Mexico City, Mexico. In addition, the Company owns 100% right, title and interest in and to certain mining claims comprising the Silver Mountain Property in Lima, Peru. The Silver Mountain Property is an advanced stage exploration property covering approximately 1,684 hectares, located approximately 75 kilometers east of Lima City and 50 kilometers south of Peru Copper's Toromocho property and Pan American Silver (NASDAQ:PAAS) (TSX:PAA) ´s Morococha Mine.
ON BEHALF OF JOURNEY RESOURCES CORP.
"Jatinder (Jack) Bal"
JATINDER (JACK) BALPresident & CEOJOURNEY RESOURCES CORP.
For further information on Journey Resources Corp., contact Jack Bal at (604) 633-2442, toll free 1-800-667-1442, e-mail jackbal@journeyresourcescorp.com, or visit our website at www.journeyresourcescorp.com.
