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04/06/2006
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Montreal – Robex Resources Inc Montreal - Robex Resources Inc (TSX : RBX), Robex Resources Inc (TSX-V: RBX) announced today that it has entered into an agreement in principle relating to a proposed private placement of up to million. The closing of the private placement is expected to occur on or about May 20, 2006, subject to receipt of all required regulatory approvals and completion of due diligence satisfactory to the investors.
The proceeds from this placement will be used to continue exploration work and drilling already in progress on its gold prospects located in Mali, West Africa as well as for the acquisition of new properties. A portion of the proceeds will go to the Company's cash flow.
This private placement financing consists in the issuance of up to 20 million units at a price of #content#.25. Each unit consists of one common share and one warrant, valid for a two-year period, and entitles the holder to subscribe one common share at a price of #content#.35. Under applicable securities legislation and the policies of the TSX-V, the common shares and warrants comprising the units will be subject to a four-month resale restriction.
The private placement is non-brokered, however, Robex will pay a finder's fee by issuing finder's warrants to acquire common shares representing 20% of the units sold. Each finder's warrant is exercisable at #content#.25 for two years.
Up-date on the exploration projects
Mininko property
A drilling program has been completed (see press release dated January 20, 2006) on the Mininko property. The Mininko property is located between the Morila Mine (6 million ounces Au) operated by Randgold and the Syama Mine (8 million ounces Au). Resolute Mining LTD has just approved an investment of US0 million for the redevelopment for the Syama Mine (see press release Resolute Mining LTD, April 3, 2006).
Sanoula and Tintiba properties
Drilling will soon begin on the Sanoula and Tintiba properties. These properties are located in the Kéniéba Valley, Mali West, and are overlapping the Mali-Senegalese tectonic structure between the Yatéla (2 million ounces Au) and the Sadiola mines (8 million ounces Au) operated by Anglogold and Iamgold on the northern side and the Loulo Mine (8 million ounces Au), property of Randgold and the Tabakoto Mine (950 000 ounces Au), property of Nevsun, on the southern side.
Diangounté property
Following the completion of a drilling program on the Sanoula and Tintiba properties, drilling will begin on the Diangounté Property, located 25 km to the south west of Sadiola.
Robex Resources Inc TSX-V: RBX is a Canadian mining exploration and development company focusing on Mali, West Africa. Mali is currently the 4th most important gold producing country in Africa. Robex's permanent exploration office is located in Mali, and is operated by senior geologists with an extensive experience in West African mining exploration. The team works on projects the Company already owns and is always on the lookout for new projects with favourable geology and a high potential for the discovery of world-class gold deposits. This permanent presence in Mali has allowed Robex to become one of the most active exploration and development companies in West Africa. In 2005, Robex was the third most important mining company operating in Mali in terms of investment in exploration.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
FOR THE BOARD
Marcel Bédard CA, Chairman of the Board.
Information: Visit the Robex web site www.robexgold.com or call
Marcel Bédard, Chairman of the Board, Quebec, (418) 688-1035,
marcel.bedard@mdcb.qc.ca Richard Savard, President and CEO, Montreal, (514) 626-2124, ric.savard@videotron.ca
André Vézina, VP Business Development, Quebec, (418) 670-1422, anvez@sympatico.ca
Raymond Legault, Director, St Bruno, Quebec, (450) 653-8245, rzlegault@hotmail.com
Stewart Robertson, Director, Trenton, Ontario, (613) 392-2646, stewrob@sympatico.ca
Serge Biron, VP Operations, Bamako, Mali, (223) 223-1828, serge.biron@sympatico.ca
This Press Release and the within disclosure have been reviewed by Richard Savard, Geologist, President and CEO of Robex Resources Inc. and Qualified Person in accordance with NI 43-101.
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