FLOW-THROUGH FINANCING INCREASED
Further to an announcement by Pinnacle Mines Ltd. on August 4, 2004, wherein the Company reported that, subject to regulatory approval, it had agreed to offer of up to 500,000 flow-through units at $0.65 per unit to generate gross proceeds of up to $325,000. The private placement has now been increased to 700,000 units at $0.65 per unit for gross proceeds of $455,000, with all other terms remaining unchanged. The Company has agreed to appoint Canaccord Capital Corporation as agent to this financing and will pay Canaccord a commission of 8% either in cash or units and an administration fee of $4,000.
Pinnacle Mines Ltd. is a Canadian based mineral exploration and development company whose activities are international in scope. Its primary assets are located in both Canada and China. In Canada, Pinnacle holds several properties in Northwestern British Columbia, in proximity to numerous past and producing mines including Barrick Gold’s famed Eskay Creek Mine. In China, Pinnacle’s current focus is in Southeast Yunnan, an area being increasingly considered for its potential to host significant mineral resources including “Carlin” style gold deposits.
On behalf of the Board of Directors
“Andrew W. Bowering”
President and CEO
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