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MKN

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Share Name Share Symbol Market Type
TSXV:MKN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Makena Proposes $0.12/Unit Private Placement

17/10/2013 8:01am

Marketwired Canada


Makena Resources Inc. ("MKN", "Makena" or the "Company") (TSX VENTURE:MKN) is
conducting a non-brokered private placement of up to ten million units at $0.12
per unit for gross proceeds of $1,200,000. Each unit will consist of one common
share and one transferable share purchase warrant exercisable at $0.18 per share
for a period of five years, subject to approval of the TSX Venture Exchange
("TSX.V"). The company previously submitted a price reservation form to the
TSX.V in regards to this private placement. 


Proceeds of the offering are expected to be used towards general working capital
and the Patterson claims. A finder's fee may be paid in accordance with TSX.V
policy.


MKN recently acquired the Patterson Uranium Prospect, which may be prospective
for uranium consisting of three claim blocks totaling 6,687 hectares (16,524
acres), which are all located in the Athabasca Basin. The west block directly
borders the recent discovery on the Patterson Lake South Property by Alpha
Minerals Inc. and Fission Energy Corp. The other two blocks are in the direct
vicinity of the discovery (please refer to maps on the Company's website
www.makenaresourcesinc.com). 


Makena also holds a 50% interest the Clone property in Stewart, BC. To date,
Makena has achieved significant drill results that returned grades of 12.80 m
(42ft) of 44.75g/t (1.305oz/t) (12/22/09) gold values including 4.87m (16 ft) of
76.80g/t (2.240oz/t) and a 102 tonne bulk sample that returned grades 4 oz/t or
139.2 g/t gold (10/22/11) over the 102 individually tested tonne samples. 


Negar Adam, president of the Company states, "Makena is currently uniquely
positioned as the company with the smallest market capitalization that borders
the Patterson Lake South discovery. Management is planning an aggressive work
program to explore this prospect and looks forward to commencing these
operations."


Negar Adam, President, Director 

Makena Resources Inc.

Neither the 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 press release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Makena Resources Inc.
Negar Adam
President, Director
1.604.685.5150
1.604.689.1733 (FAX)
www.makenaresourcesinc.com

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1 Year Makena Resources Inc. Chart

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