Ely Gold & Minerals Inc. ("Ely Gold" or the "Company") is
pleased to announce that it has completed a non-brokered private
placement consisting of 5,131,150 shares at a price of CDN$0.10 per
share, for gross proceeds of US$500,000. Solitario Exploration &
Royalty Corp. (NYSE:XPL; TSX: SLR), "Solitario", the Company's joint
venture partner on the Mt. Hamilton project was the sole subscriber. The
securities will be subject to a four-month hold period ending on August
30, 2013 as required under applicable securities laws. The Offering
fulfills Solitario's Third Tranche funding requirement as mandated by
the Letter of Intent dated August 26, 2010 signed by Solitario and Ely
Gold. The Mt Hamilton Gold project is held by Mt. Hamilton LLC, which is
80% owned by Solitario and 20% owned by Ely Gold.
The Company would also like to announce that it has scheduled its Annual
General Meeting of shareholders for Thursday, June 27, 2013. The
Company's annual audited financial statements for its financial year
ended December 31, 2012, which will be presented at the AGM, are now
available on SEDAR.
On Behalf of the Board of Directors
Signed "Trey Wasser"
Trey Wasser, President & CEO
For further information, please contact Ely Gold & Minerals Inc. at 604-488-1104.
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.
This news release may contain forward-looking statements including but
not limited to comments regarding the timing and content of upcoming
work programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.