Crown Mining Proposed $250,000 Non-Brokered Private Placement

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[{"type":"text","content":"Crown Mining Proposed $250,000 Non-Brokered Private PlacementTORONTO, ON / ACCESSWIRE / May 6, 2016 / Crown Mining Corporation (TSXV: CWM) (\"Crown\" or the \"Company\") announces a proposed non-brokered private placement for aggregate gross proceeds of up to $250,000 comprised of up to 2,500,000 units at a price of $0.10 per unit (each such unit being comprised of one common share and one warrant) (the \"Offering\"). Each whole warrant will entitle the holder to purchase one common share for $0.20 at any time within 2 years after closing subject to an acceleration clause. All securities issued pursuant to this private placement will be subject to a four (4) month hold period. The Company proposes to pay to eligible finders a finder's fee equal to 10% of the gross proceeds raised. The Company also reserves the right to increase or decrease the size of the Offering. \nCompletion of the Offering is subject to receipt of all required regulatory and TSX Venture Exchange approvals. The Company will use the proceeds of the Private Placement for exploration and development work at its Lights Creek Copper Project and for general working capital purposes. \nCrown is focused on advancing its 100% controlled Lights Creek Copper Project in Northeast California. There are four known copper deposits on the 18 square kilometer property with over 2 billion pounds of contained copper as reported in our two Technical Reports available on Sedar. \nThe Moonlight deposit hosts a current National Instrument 43-101 (\"NI 43-101\") compliant indicated resource of approximately 161 million tons (146.5 million tonnes) averaging 0.324% copper, 0.003 ounces of gold and 0.112 ounces of silver per ton, and an inferred resource of 88 million tons (80 million tonnes) averaging 0.282% copper per ton. Further details of this resource can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 at Sedar.com. The Superior and Engels deposits have a current NI 43-101 inferred mineral resource of 57 million metric tonnes at an average copper grade of 0.43%. Further details of this resource can be found in the Technical Report on the Superior Project dated November 7, 2014 filed on Sedar. The fourth deposit has a historical resource that is not compliant with NI 43-101. \nMr. George Cole is the Qualified Person pursuant to NI 43-101 resp...

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