Alliance Mining Corp. Closes First Tranche of Private Placement
NEWS RELEASE
December 17, 2010 Trading Symbol: CNSX: ALM
ALLIANCE MINING CORP. CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Kamloops, British Columbia - Alliance Mining Corp. (the "Company” or “Alliance") announces that it has closed the first tranche of a non-brokered private placement consisting of up to 500,000 units (the “Units”) at a purchase price of $0.05 per for proceeds of $25,000.00. Each Unit will consist of one common share and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share in the capital of the Company on or before December 12, 2012, at a purchase price of $0.08 per share.
The securities issued will be subject to a hold period and may not be sold until April 14, 2011.
No finder’s fees are payable on the Private Placement. Proceeds of the Private Placement will be used for working capital. The Private Placement will be subject to normal regulatory approvals.
About Alliance:
The Company’s mission is focused on acquiring and delineating highly prospective mineral properties in central Arizona that have the right host rocks that have bulk tonnage potential that may be delineated by using cash flows from selective mining of the high-grade zones, this may generate substantial earnings for the Company to generate dividends for our shareholders while also increasing share valuation by sustainable resource building, while limiting dilution to shareholders.
ON BEHALF OF THE BOARD
"Jan C. Ross"
Mr. Jan C. Ross, President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
Jan C. Ross, President and CEO (250) 319-4793
The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the Ontario Securities Act. This includes statements concerning the Company’s plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.