TRIBUTE ANNOUNCES COMPLETION OF FINANCINGS
June 26, 2003 TSXVE: TBM
Tribute Minerals Inc. ("Tribute" or the "Company") (TSXVE- TBM) is pleased to announce that it has completed the placement of 333,333 flow-through common shares priced at $0.30 per share and 106,667 units (each a "Unit") priced at $0.30 per unit with each unit consisting of one (1) common share priced at $0.30 and one- half (1/2) of a share purchase warrant with each full warrant entitling the holder to acquire a further common share at $0.40 for a period of one (1) year to an arm's-length placee. The securities issued pursuant to this offering will be restricted from trading until October 25, 2003. IBK Capital Corp. acted as agent with respect to this placement and received a commission of $11,880 in cash and warrants to acquire 26,400 common shares at $0.30 per share until June 25, 2003. The Company is offering a further 726,666 Units. The proceeds from the offering will be used for exploration on the Company's properties and for working capital.
The Company also wishes to announce that further to its press release dated June 12, 2003, the Company has completed a 500,000 unit placement with Major Drilling Group International Inc. with each unit consisting of one (1) common share priced at $0.30 and one-half (1/2) of a share purchase warrant with each full warrant entitling the holder to acquire a further common share at $0.40 until June 17, 2004. The $150,000 proceeds from this placement will be used to partially fund the drilling program on the Company's Dixie Property. The securities will be restricted from trading until October 17, 2004.
The Company currently has 31,030,243 common shares issued and outstanding.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tribute Minerals Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 368-2929
(416) 601-1450 (FAX)
info@tributeminerals.com
www.tributeminerals.com
The TSX Venture Exchange has neither approved nor disapproved of the contents of this
release.
