MINING MARKETS AND INVESTMENT NEWS — Treminco raises funds for Elkhorn

Among the juniors raising funds for work programs is Aur Resources (AUR-T), which has privately placed $250,000 with Patricia Mines (PAT-V).

Patricia will use the money to explore its Island Gold project, situated northeast of Wawa, Ont.

Aur purchased 1.25 million units at 20cents each, with each unit consisting of one flow-through share and one flow-through share-purchase warrant redeemable for another flow-through share at 20cents for two years.

Patricia is currently planning an exploration program set to get under way before June. Work will include resource assessments on known deposits on the property, geological compilation, trench sampling on surface showings and planning for surface and underground diamond drilling.

* East Africa Gold (EAG-V) has arranged a private placement of approximately 1.8 million units at 15cents each, for proceeds of $276,750.

Each unit consists of one share and a 2-year warrant redeemable for an additional share at 15cents in the first year and at 17.5cents in the second year.

* Treminco Resources (TMO-T) has negotiated a private placement of 1.2 million shares at 60cents each, for gross proceeds of $720,000. A portion of the financing will be purchased by company insiders.

The proceeds will be used to complete a detailed due diligence review of the Elkhorn gold project in Montana, which was recently optioned from Newmont Gold (NGC-N).