COEUR-D'ALENE, Idaho – A wholly owned subsidiary of Hecla Mining Company has subscribed to 14 million common shares of Canamex Resources of Vancouver. The shares are priced at US$0.18 each for gross proceeds to Canamex of $2.52 million. When the transaction is complete, Hecla will own 15% of the Canadian company.
Hecla appears to be most interested in Canamex's Bruner gold project in Nye County, NV. President and CEO Phillips S. Baker, Jr. said, "Hecla is pleased to be able to make a strategic investment in Canamex to participate in the re-emergence of a historic Nevada gold district." He also said his company will continue to invest in well managed juniors with outstanding exploration land packages.
More information about the Bruner project and a historic 3-D model is available at Canamex.us.