| ||February 13, 2006|
Orko Arranges $3,255,000 Non-Brokered Private Placement
| ||VANCOUVER, British Columbia - Orko Gold Corporation ("Orko" or the "Company") has arranged, subject to all necessary regulatory approvals, a non-brokered private placement for 9,300,000 (the "Units") at a price of $0.35 per unit for a total proceeds of $3,255,000 . Each unit consists of one common share and one transferable common share purchase warrant. Each share purchase warrant is exercisable into one additional common share for a period of eighteen months at a price of $0.50 per share.|
The Company will pay a finder's fee of 7% of the proceeds to certain finders at the closing of the private placement in consideration of their efforts in arranging the private placement. The commission may be paid in cash, shares and/or units having the same terms as the Units issued under the offering, at the election of the finders.
The securities issued above will be subject to a four-month hold period and acceptance of the TSX Venture Exchange.
The proceeds of the private placement will be used for the ongoing exploration and development of the La Preciosa and Santa Monica properties in Mexico and for general working capital purposes.
Orko is an exploratory resource company focused on silver and gold properties in Mexico. La Preciosa, the Company's principal project, located near the city of Durango, is an advanced silver and gold project under option from Luismin S.A. de C.V., a subsidiary of Goldcorp Inc. Orko maintains a detailed QA/QC program under the supervision of Ben Whiting, P.Geo. Samples are sent to SGS Mineral Services prep lab in Durango, with the pulps then sent to SGS Mineral Services, an accredited laboratory in Toronto, Canada for analysis.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact Orko Gold Corp. at (604) 684-4691 or
Via email at in[email protected] or visit our website on line at www.orkogold.com
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. Orko relies upon litigation protection for forward-looking statements.
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