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Published on 8/27/2010 in the Prospect News PIPE Daily.

Genesis Minerals orchestrates A$246,500 private placement of shares

Offering raises funds for mining project acquisitions and exploration

By Devika Patel

Knoxville, Tenn., Aug. 27 - Genesis Minerals Ltd. said it plans a A$246,500 private placement of shares via manager Argonaut Capital Ltd.

The company will sell 4.94 million ordinary shares at A$0.05 apiece, a 37.5% discount to the Aug. 26 closing share price of A$0.08

Proceeds will be used for the acquisition, exploration and evaluation of the Dinamarquesa and Cerro Verde1 projects.

The company also said it plans underwritten 2 for 3 non-renounceable pro-rata entitlements issue of about 23.28 million shares at the same price.

The mining company based in West Perth, Australia.

Issuer:Genesis Minerals Ltd.
Issue:Ordinary shares
Amount:A$246,500
Shares:4.94 million
Price:A$0.05
Warrants:No
Manager:Argonaut Capital Ltd.
Pricing date:Aug. 27
Stock symbol:Australia: GMD
Stock price:A$0.099 at close Aug. 27

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