April 20, 2010 – Vancouver, British Columbia. Indigo Exploration Inc. (TSX-V: IXI) has arranged a private placement of up to 250,000 flow-through common shares at a price of $0.30 per share, subject to TSX Venture Exchange approval. Securities issued pursuant to the flowthrough private placement will be subject to a four month hold.
The proceeds of the flow-through private placement will be used to complete a drill program, which is currently underway at Indigo Exploration Inc.’s Fredy Creek property. The Fredy Creek property is road accessible and lies 54 kilometres north of Williams Lake, British Columbia. Taseko Mines Limited’s producing Gibraltar porphyry Cu-Mo Mine lies 12.6 kilometres to the northwest of the Fredy Creek property. The Fredy Creek soil and geophysical anomalies are interpreted to be trending towards and coincident with the northwest trend of mineralization at the Gibraltar Mine.
The Company also recently announced the signing of a non-binding Letter of Intent to acquire all of the issued and outstanding shares of Sanu Resources Burkina Faso SARL, (“Sanu Burkina”) an indirectly owned subsidiary of NGEx Resources Inc on April 7, 2010. NGEx is a mineral exploration company listed on the TSX and which trades under the symbol “NGQ”. The Burkina Faso property package consists of four exploration permits: Kodyel, Tordo, Lati and Loto. The four permits, which are held by Sanu Burkina, are government granted licenses and lie in greenstone belts that contain significant gold discoveries.
About Burkina Faso
The property package lies in the West African nation of Burkina Faso. West Africa is underlain by the Birimian Greenstone Belt, one of the most prolific gold producing areas in the world. A number of the world’s major gold companies are active in West Africa, several with producing mines, including: IAMGOLD Corporation, AngloGold Ashanti Limited, Randgold Resources Limited, Gold Fields Limited and Newmont Mining Corporation. Burkina Faso is considered to be relatively stable, both politically and economically and relies primarily on farming and mining as it main sources of revenue.
On Behalf of the Board of Directors,
“R. Tim Henneberry”
R.Tim Henneberry, P.Geo.
President and CEO
For further information, please contact:
Tim Henneberry: (604) 681-3422
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute “forward-looking statements” and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including: exploration programs, the Company’s strategy, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance.
Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. All such forward-looking information and statements are based on certain assumptions and analyses made by the Company’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forwardlooking information or statements. Important factors that could cause actual results to differ from these forwardlooking statements include but are not limited to: risks related to the completion of proposed transactions, the exploration and potential development of the Company’s projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company set out in the Company’s MD&A filed on SEDAR.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.