Vancouver, British Columbia, April 19, 2017 - Noka Resources Inc. (TSXV: NX) (Frankfurt: 2NKN) (US: NOKAF) (the "Company" or "Noka") is pleased to announce that has closed its private placement of 7,228,571 shares at CDN$0.07 per share for total gross proceeds of CDN$506,000. The Company is also pleased to announce that the Board of Directors has approved the change of the Company's name to Pacton Gold Inc.
Dominic Verdejo, President and CEO of Noka commented, "With the price of gold up 12% year-to-date, 2017 will be a transformational year for Noka as we focus on gold and our newly acquired strategic properties in Ontario, respectively the Tully West Gold Property, the Birch Gold Property, and the Uchi Gold Property. We will be mobilizing our exploration team in the next couple weeks to initiate our spring drill program at the Tully West Gold Property, where historical drilling by SGX Resources Inc. intersected 36.7 g/t gold over 6.3 meters in drill hole #13-38."
The Company issued 28,000 shares and paid $14,770 in finders' fees on the placement. All securities issued under the placement are subject to statutory hold periods expiring August 20, 2017. Proceeds from the private placement will be used to fund ongoing exploration and for general working capital.
An application for acceptance of the name change to Pacton Gold Inc. will be made to the TSX Venture Exchange forthwith.
Noka Resources Inc. (TSXV: NX) (Frankfurt: 2NKN) (US: NOKAF) is a Canadian junior exploration company focused on mineral exploration in North America. The Company is currently advancing exploration activity on the Birch and Uchi Gold Properties adjacent to the Springpole Gold Deposit (controlled by First Mining Finance (FF: TSXV)) in the Red Lake Gold District of western Ontario and the Tully West Gold Property located northeast of Timmins, Ontario. The Company's goal is to secure and explore quality mineral assets in the Americas.
All technical information in this press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a Qualified Person for the purposes of National Instrument 43-101.
On Behalf of the Board of Noka Resources Inc.
President and CEO
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