Cliffmont announces non-brokered private placement

    




 VANCOUVER, March 1, 2012 /CNW/ - Cliffmont Resources Ltd.  (the "Company") is pleased to announce a non-brokered private placement  of up to 5,000,000 units at $1.00 per unit for gross proceeds of  $5,000,000. Each unit will consist of a share and one half of a  transferable common share purchase warrant. Each whole warrant will  have an exercise price of CAD $1.25 and be exercisable for a period of  18 months from closing. The company will pay a finders' fees on a  portion of the financing. The securities will be subject to a  hold-period of four months from date of closing. 

 The net proceeds from this private placement will be used for the  continued exploration of the San Luis Project and for general working  capital purposes. 

 The proposed financing is subject to the approval of the TSX Venture  Exchange.    





    ON BEHALF OF THE BOARD
    "Jeff Tindale"
    Jeff Tindale, President and CEO






 About Cliffmont 

 Cliffmont Resources is a publicly-listed  Vancouver-based  mineral exploration company focused on advancing and developing  exploration projects in Colombia.  Cliffmont is located in the  Department of Huila, a prolific historical mining area in central  Colombia and has 100% ownership in the San Luis Project, comprising a  2,623 hectare tenement.  The San Luis project includes principal  targets of gold-silver bearing quartz veins while exploring for  mineralization in stockwork, hydrothermal breccias, and gold and  gold-copper porphyry.  The San Luis district is mining friendly and is  supported with a comprehensive infrastructure network. Cliffmont has  assembled a strong management team while implementing ongoing community  and social initiatives. 

 Forward Looking Statements. This Company news release contains certain "forward-looking" statements  and information relating to the Company that are based on the beliefs  of the Company's management as well as assumptions made by and  information currently available to the Company's management. Such  statements reflect the current risks, uncertainties and assumptions  related to certain factors including, without limitations, competitive  factors, general economic conditions, customer relations, relationships  with vendors and strategic partners, the interest rate environment,  governmental regulation and supervision, seasonality, technological  change, changes in industry practices, and one-time events.  Should any  one or more of these risks or uncertainties materialize, or should any  underlying assumptions prove incorrect, actual results may vary  materially from those described herein.  

 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. 

   

Cliffmont Resources Ltd.


CONTACT:  Jeff Tindale, President and CEOTelephone: [phone]Facsimile: [phone]Website: www.cliffmontresources.comEmail: [e-mail] 


    

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