TORONTO, ONTARIO, Oct. 27, 2009 (Marketwire) -- MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald" or the "Company") announces that it has applied to the TSX Venture Exchange (the "Exchange") for approval to extend the term of issued and outstanding warrants exercisable for a total of 20,312,500 common shares at an exercise price of $0.50 per share (the "Warrants"). The Warrants were issued as part of a private placement that closed on October 29, 2007. Since issuance, none of the Warrants have been exercised and all of the Warrants are outstanding.
As originally issued, the Warrants had a term of two years, expiring on October 29, 2009. MacDonald is proposing to extend the term of these Warrants for an additional two years, with the result that they would expire on October 29, 2011. The extension of the term of the Warrants, as proposed, is subject to the approval of the Exchange.
About MacDonald Mines Exploration Inc.
MacDonald Mines is a mineral exploration company with an established history in the exploration of gold and base metals. MacDonald has set upon a strategic direction of exploration in the Canadian Northlands, with particular focus on the "Ring of Fire" in James Bay, Ontario, its joint-venture with Virginia Mines in Quebec and now the LaRonge area in Saskatchewan.
In 2008, MacDonald Mines was ranked second in the TSX Venture 50's Annual Ranking of Top Canadian Mining Companies and trades under the symbol BMK.
More detailed information is available on the website at www.macdonaldmines.com.
The foregoing information may contain forward-looking statements relating to the future performance of MacDonald Mines Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from MacDonald Mines plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by MacDonald Mines with the TSX Venture Exchange and securities regulators. MacDonald Mines does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.