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Black Tusk Resources Inc. Closes Final Tranche of Oversubscribed Private Placement



Vancouver, British Columbia - TheNewswire - July 9, 2019 - Black Tusk Resources Inc. (the "Company") (CNSX:TUSK) (OTC:BTKRF) (Frankfurt:0NB) is pleased to announce that it has closed its second and final tranche of its previously announced private placement (see press releases dated June 7, 2019) issuing a total of 1,655,558 Units (as defined below) at a price of $0.17 per Unit for total proceeds of $281,449.95. Together with the first tranche, the private placement was oversubscribed with a total of 3,344,758 Units issued for gross proceeds of $568,608.

Each Unit consists of one flow through common share (a "Share") and one half of one share purchase warrant (each whole warrant a "Warrant"). Each Warrant will entitle the holder to purchase an additional share at a price of $0.25 per share for a two-year term (the "Warrant Term").

The proceeds of this flow-through offering will be used for the upcoming 2019 summer drill program on Black Tusk Resources - Golden Valley Project in Abitibi, Quebec.

About Black Tusk Resources Inc.

Black Tusk is a gold-focused exploration company with mineral properties located in Quebec and British Columbia, Canada. The company has purchased 100% ownership of the Golden Valley Property located 35 kilometres north of La Sarre, in the prolific Quebec Abitibi Greenstone Belt.


In addition to trading on the CSE, Black Tusk Resources trades in the US under the stock symbol BTKRF as well as the Frankfurt Stock Exchange under the symbol 0NB.

On behalf of the Board of Directors

Richard Penn, CEO

778 384 8923