Vancouver, July 24, 2002--- DRC Resources Corporation received TSX Venture Exchange acceptance for a $2,100,000 Brokered Flow Through Common Share Private Placement with Dundee Securities Corporation on July 23, 2002.
DRC Resources and Dundee Securities Corporation have completed the documentation pertaining to the closing of the financing and the funds have been received by the company. All commissions have been paid.
The proceeds from this Private Placement brings the company's current cash position to $5 million. The $2,100,000 received from this financing will be used for exploration on the company's Afton Copper-Gold Project.
On behalf of the Board of Directors
"John H. Kruzick"
John H. Kruzick, President
DATE: July 24, 2002
Shares Issued: 8,363,166 common shares
U.S. Rule 12g3-2(b)Exemption
Website: www.drcresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
CAUTIONARY NOTE:. The company relies on litigation protection for "forward-looking" statemen
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