NEWS ROUNDUP — Manson buys Venezuelan ground

Calgary, Alta.-based Manson Creek Resources (TSE) will buy the Oroturba gold concession in Bolivar state, Venezuela.

The 500-hectare property includes both alluvial and lode rights and has never been explored with modern equipment.

Manson Creek will buy all of the shares of Venezolana de Servicious Mineros, a Venezuelan company which controls the concession, for US$30,000 and the issuance of 100,000 Manson Creek shares.

To fund its Venezuelan activities, the company will raise $750,000 by issuing 1.2 million units at 60 cents per unit to its parent company, Golden Rule Resources (TSE). Each unit will consists of one share and a 5-year purchase warrant. Upon completion of the placement, Golden Rule will own 48.75% of Manson Creek.