| ||March 02, 2006|
Orko Closes Private Placement
| ||VANCOUVER, British Columbia - Orko Gold Corporation ("Orko" or the "Company") is pleased to announce that it has closed the private placement originally announced on February 13, 2006. The Company issued 8,798,570 units for gross proceeds of $3,079,500, each unit consisting of one common share without par value and one transferable share purchase warrant entitling the holder thereof to purchase an additional common share at a price of $0.50 per share until the close of business on September 2, 2007. In addition, the Company issued 232,950 units having the same terms and conditions as the private placement units and paid $191,475 as finder's fees in conjunction with the private placement.|
The securities issued under the Private Placement will be subject to a four-month hold period from closing.
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 [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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