Maya Gold & Silver Inc.: Closing of a Private Placement

MONTREAL, QUEBEC–(Marketwire – October 16, 2008) – Maya Gold & Silver Inc. (“Maya”) (TSX VENTURE:MYA – News) is pleased to announce that it has closed the previously announced non-brokered private placement of 540,000 units at a price of $0.25 per unit for gross proceeds of $135,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional common share at a price of $0.35 for a period of 12 months from the closing of the private placement.

Maya is a new exploration mining company focused on the exploration for gold and silver on the Baluarte project located in Mexico. It just initiated the first exploration activities on the property.

Contact:
Rejean Gosselin
Maya Gold & Silver Inc.
President and Chief Executive Officer
+1-514-868-9595 T.
+1-514-868-9030 F.




Register to receive our press releases