Oxford, MS 5/11/2011 (PennyPayDay) -- Ruby Creek Resources, Inc. (OTC:RBYC) today announced, in a press release, that it has raised in excess of $4,500,000 in its most recent Private Placement, exceeding the Company's goal of $3,000,000. Each Unit sold cost $0.50 and consisted of one common share and one warrant with an exercise price of $1.00 for two years. Ruby Creek did not pay any fees or commissions in connection with this Private Placement.Robert Slavik, President and CEO of Ruby Creek said, "We are extremely proud of the strides we've made with our Company over the past year and happy that our investors have recognized what we've been able to achieve. We noted in a news release in early May that our goals for 2011 are quite aggressive. Our investors are helping us to attain those goals through their enthusiastic participation in our private placement. We fully expect to enter 2012 in commercial gold production with the possibility of our Company being listed on a more senior stock exchange."
Ruby Creek Resources (www.rubycreekresources.com) is an exploration and mining company. Ruby Creek operates in Tanzania through its subsidiaries, Ruby Creek Gold (Tanzania) Limited and Ruby Creek Resources (Tanzania) Limited. Ruby Creek is the operator of the Tanzania Gold Plateau Project, establishing operations and infrastructure, along with the permitting process in support of the full development and commencement of gold mining operations on the Project.
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