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SOUTHERN ARC ANNOUNCES $2,030,000 BOUGHT EQUITY FINANCING AND $1 MILLION PRIVATE PLACEMENT

March 6, 2006
Vancouver, B.C.: Southern Arc Minerals Inc. (TSX Venture: SA) is pleased to announce that it has negotiated a private placement for 4,328,571 units of the Company at a price of $0.70 per unit, for gross proceeds of $3,030,000. Each unit will consist of one common share and one-half (1/2) of a non-transferable share purchase warrant. Each full warrant is exercisable into one additional common share at an exercise price of $1.00 per common share for a period of two (2) years from the closing of the private placement.

Haywood Securities Inc. ("Haywood") has agreed to purchase a total of 2,900,000 of the units (for gross proceeds of $2,030,000) as principal. Haywood will be paid a cash commission equal to 7.5% of the gross proceeds raised under the underwritten portion of the private placement. The Company will grant Haywood agent's warrants equal to 10% of the number units sold under the private placement. Each agent's warrant will be exercisable into one additional common share at an exercise price of $0.70 per common share for a period of two (2) years from the closing of the private placement.

A total of 1,428,571 of the units, for gross proceeds of up to $1 million are being sold on a non-brokered basis. The entire private placement is subject to regulatory acceptance.

The proceeds from this financing will be used for exploration and development on the Company's mineral properties in Indonesia and for general working capital.

On behalf of the Board of
Southern Arc Minerals Inc.
"John Proust"
Per: John G. Proust
President and CEO
Southern Arc Minerals Inc.
Suite 1500, Box 1078, 885 West Georgia Street, Vancouver, BC V6C 3E8 Canada
Telephone: (604) 676-5241 Fax: (604) 676-5246

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release." Southern Arc NR #06-06

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  • Address
  • HEAD OFFICE
  • Southern Arc Minerals Inc.
    Suite 650
    669 Howe St
    Vancouver, BC   Canada V6C 0B4
    Telephone: +1-778-725-1490
    Fax: +1-604-428-1124
  • INDONESIAN OFFICE
  • Graha Sentana Building, 4th Floor
    Jalan Buncit Raya No. 2
    Jakarta Selatan,12760   Indonesia
    Telephone: +62-21-7918-8612
    Fax: +62-21-7918-8613