November 1, 2012, Vancouver, BC -- Rathdowney Resources Ltd. ("Rathdowney" or the "Company") (TSX-V: RTH) is pleased to announce that it has closed a non-brokered private placement (the "Offering") with Teck Resources Limited which was announced on October 1, 2012. The Offering consisted of 700,000 common shares at $0.50 per share for total proceeds of C$350,000. The shares are subject to applicable resale restrictions, including a four-month hold period under Canadian securities laws from the date of issuance.
The proceeds from the Offering will be used for general working capital purposes.
Rathdowney Resources Ltd. is a mineral exploration company focused on finding and developing the next generation of zinc-lead-silver deposits in the ore fields of Europe. The Company's Project Olza is a Mississippi Valley Type (MVT) zinc-lead prospect situated in Poland's prolific Upper Silesian mining district which has been a centre of exploration and mining activity since 12th century.
Rathdowney is associated with Hunter Dickinson Inc. ("HDI") a diversified, global mine development company with a 25-year history of mineral development success. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral properties that provide consistently superior returns to shareholders.
For further details on the Company and its projects, please visit www.rathdowneyresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.