1st TRANCHE NON-BROKERED PRIVATE PLACEMENT

About this update from Enduro Metals Corporation

[{"type":"text","content":"\n\n\n Jun. 14, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nSymbol:-TSXV.NAA\n\n\nVANCOUVER, June 14, 2011 /CNW/ - Sierra Iron Ore Corp. is pleased to\n announce that it has received subscription agreements totaling\n 3,538,581 units on its first tranche of the non-brokered private\n placement offered to qualified investors for gross proceeds to the\n company of $2,830,865. Each unit was issued at a price of $0.80 cents\n per unit; each unit is comprised of one common share and one-half of\n one share purchase warrant. The terms of the warrant entitles the\n holder to acquire one additional share at a price of $1.00 for a period\n of 24 months from closing. All securities issued are subject to a hold\n period of four months from closing. Finders' fees will be paid to\n qualified parties.\n\n\nThe private placement will provide the necessary working capital to fund\n the next stage of development of the El Creston property. A portion of\n the proceeds from the private placement will also be used to satisfy\n the company's near-term obligations under the El Creston option\n agreement. "We are very excited to begin the next phase of development\n on the El Creston property and look forward to announcing the results\n of our drill program this summer," Wally Boguski, President of Sierra\n Iron Ore.\n\n\nAbout Sierra Iron Ore\n\n\nSierra Iron Ore is a growth focused mineral exploration company creating\n value through the exploration and development of the El Creston\n...

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