|October 31, 2011|
Bitterroot Resources Ltd. Closes $881,750 Financing
|Bitterroot Resources Ltd. (BTT, TSX-V) has closed a private placement of 17,635,000 units priced at $0.05. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable at $0.10 until October 27, 2013. The common shares plus any additional shares issued through the exercise of warrants are subject to a hold period expiring February 28, 2011. Finders' fees paid consisted of $45,405 cash plus 908,100 Broker Warrants with the same terms as the common share purchase warrants issued to investors. The proceeds of the financing will be used for working capital and to fund exploration of the Company's Windy gold project in Nunavut.|
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
FORWARD LOOKING STATEMENTS: This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
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