Renforth Initial Private Placement Closing

Renforth Initial Private Placement Closing

Toronto, Ontario CANADA, May 08, 2014 /FSC/ -Renforth Resources Inc. (CSE: RFR) ("Renforth" or the "Company") announces that it has completed an initial closing of a non-brokered private placement financing (the "Offering") raising gross proceeds of $195,000 through the issuance of 390 units ("Units") at $500 per Unit.  Each Unit consists of 1,700 common shares of the Company ("Shares") and 6,800 common shares of the Company issued on a "flow-through" basis ("Flow-Through Shares").

The proceeds raised under the Offering will be used for Canadian Exploration Expenses on the Company's New Alger project, this will include a drill program targeting shallow gaps in the initial resource model.

"Renforth is engaged in demonstrating the value and furthering the commercialization of the New Alger Property, the initial resource established and announced April 3rd 2014 was the first step.  We plan on additional drilling this spring in the Thompson-Cadillac Mine Area, with a target of adding additional ounces to our initial resource.  It is anticipated that this will be followed by summer prospecting on the Pontiac Vein area to further delineate and sample that structure.  This current funding will allow us to execute this plan, we look forward to further field successes at New Alger." states Nicole Brewster, President and CEO of Renforth.

In connection with the Offering, the Company will pay a finder's fee of $13,200 as well as finders warrants ("Finder's Warrants") of 4% of the number of shares issued under the Offering for services rendered to the Corporation in respect of the Offering.  Each Finder's Warrant will be exercisable for one common share of the Issuer at $0.10 per share for a period of 12 months following the date of issuance.

All securities issued under the Offering are subject to a four-month statutory hold period in Canada.

ABOUT NEW ALGER

Renforth's 100% owned New Alger project is located on the Cadillac Break, near Malartic Quebec.  The Cadillac-Larder Lake Break extends over 200 km, from Kirkland Lake, Ontario in the west to past Val d'Or, Quebec in the east, this approximate 200 km long gold-bearing structure has been in production for over 9 decades, with past production and known reserves exceeding 80 million ounces of gold.  Renforth's immediate neighbours include Agnico Eagle's LaRonde mine complex, contiguous to the north and west, and Radisson's O'Brien Mine project, contiguous to the east.  

The New Alger Project currently consists of three areas of interest;

* Thompson-Cadillac Mine Area (operated in the 1930's), where Renforth established the first ever 43-101 inferred resource in April 2014, of 201,000 inferred ounces of gold from surface to a depth of only 200m (refer to press release of April 3rd 2014).

* Pontiac Vein area, where Renforth re-discovered the original, early 1930's, gold showing structure which led to the discovery of the Thompson-Cadillac Mine, approximately 250m to the north.  The Pontiac Vein area is of interest as the surface vein structures, which yielded a grab sample high of 3.1 g/t Au in the summer of 2013, continue over an E / W strike length of 250 m, remaining open but lost to prospecting efforts due to surface growth and ground conditions.  Renforth acquired additional adjacent ground with geophysical signatures that suggest the possible continuation of the Pontiac Vein structure, subject to a southern offset from a known N / S trending fault on the property

* Northern Exploration Zone - the area north of the Break has seen little to no exploration, however, Renforth has identified a mineralized IP anomaly trending E / W across the northern portion of the property, in addition historical drill records indicate a mineralized porphyry unit.  This is of interest as gold-producing structures exist on the northern part of the break on properties to the east.

NEW ALGER RESOURCE

-***-

      April 2014 New Alger Resource Statement
Thompson-Cadillac Mine Area
----------------- ----------------- ----------- ----------------
Class             Tonnes            Au g/t             Total Oz
----------------- ----------------- ----------- ----------------
Inferred                 3,007,000        2.08          201,000
----------------- ----------------- ----------- ----------------

   -****-

(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability.  The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

(2) The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

(3)  The mineral resources in this press release were estimated using the Canadian Institute of        Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.

Technical information contained in this press release has been reviewed and approved by Brian H. Newton P.Geo, a "qualified person" as defined by National Instrument 43-101.

ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based exploration company with interests in two exploration assets: the previously productive New Alger property, located in the Cadillac Break Mining Camp, Quebec, and the Mina Pilar Project, located SW of Madrid Spain, also a historic producer of gold.  With the closing of this financing Renforth has 41,919,172 shares issued and outstanding.

For further information please contact:

Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T: (416) 368.5049   F: (416) 368.3151
E: nicole@renforthresources.com

No securities regulatory authority has approved or disapproved of the contents of this news release.

To view the press release as a PDF, please click on the following link:
http://www.fscwire.com/sites/default/files/news_release_pdf/renforth05082014.pdf



Source: Renforth Resources Inc. (CSE: RFR)
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