Sunset Cove to Close on First Tranche of Private Placement for $200,000

    




 TORONTO, Sept. 6, 2012 /CNW Telbec/ - Sunset Cove Mining   (BVL: SSM) ("SUNSET COVE" or the "Corporation"), announces that it has  received subscriptions in the amount of $200,000.  It will be  proceeding with a closing on this first tranche of its previously  announced private placement on Thursday Sept. 6, 2012. 

 Executives and directors have subscribed for 145,238 units in this first  closing. "The closing of this first tranche at a price slightly above  market shows the support for what we are doing at Sunset," said Lorne  Woods President and CEO.  

 All shares issued under this placement will be subject to a four (4)  month hold period, which will expire on January 6, 2013.  

 A finder's fee of 7% cash and 7% broker warrants will be paid to certain  arm's length parties. The broker warrants expire 18 months from the  closing. The completion of the offering is subject to approval of the  TSX Venture Exchange.  

 It is anticipated that the second and final tranche of this financing  will close shortly. 

 The financing is a non-brokered private placement consisting of up to  4,761,905 units (the "Units") at a price of $0.105 per Unit to  qualified investors, to raise up to $500,000.  

 The Units consist of one (1) common share and one half (1/2) share  purchase warrant. Each full share warrant will provide the holder with  the right to purchase one (1) additional share for $0.18 per Share. The  warrants expire in 18 months from the closing and are subject to an  "Acceleration Right" in favor of the Corporation. Should the shares of  the Company close at $0.25 or higher for 5 consecutive days, the expiry  of the warrants will accelerate and expiry will be 20 days from  issuance of a news release by the Corporation announcing the trigger of  the acceleration right.  

 The capital raised will be used for exploration and drilling on the  Carolay property and general working capital for the Corporation. 

 About Sunset Cove 

 Sunset Cove Mining Inc., is a dynamic Canadian junior mineral  exploration and development company dedicated to driving shareholder  value through the economical acquisition, exploration and development  of precious metals properties in proven Latin American locations to the  point where they become attractive joint venture or acquisition  targets. Sunset Cove is in Peru now, because now is the time to be in  Peru, and has a wholly owned Peruvian subsidiary, Minera Sunset Del  Peru S.A.C based in Lima, and is building a Peruvian mining portfolio  in precious metals. 

 Forward-Looking Statements 

 Some of the statements contained herein may be forward-looking  statements that involve known and unknown risks and uncertainties. Results presented in this press release are exploratory in nature.  Historical data, if mentioned, should not be relied upon, as they are  not admissible under NI 43-101 rules and the Company has not conducted  sufficient testing to verify this type of information. 

 Without limitation, statements regarding potential mineralization and  resources, exploration results, and future plans and objectives of the  Company are forward-looking statements that involve various degrees of  risk. The following are important factors that could cause the  Company's actual results to differ materially from those expressed or  implied by such forward-looking statements: changes in the world-wide  price of mineral commodities, general market conditions, risks inherent  in mineral exploration, risks associated with development, construction  and mining operations, the uncertainty of future profitability, and the  uncertainty of access to additional capital. Sunset Cove disclaims any  obligation to update any such forward-looking statements. 

SUNSET COVE MINING INC.


CONTACT:  Lorne Woods; President; Sunset Cove Mining(877) 234-0692; ext [e-mail] www.sunsetcovemining.com 


    

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