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Press release from CNW Group

Sunset Cove Closes Second Tranche of Private Placement and revises total proceeds raised for a total of $309,940.00

Tuesday, October 16, 2012

Sunset Cove Closes Second Tranche of Private Placement and revises total proceeds raised for a total of $309,940.0010:29 EDT Tuesday, October 16, 2012TORONTO, Oct. 16, 2012 /CNW Telbec/ - Sunset Cove Mining (TSXV: SSM) (BVL: SSM) ("SUNSET COVE" or the "Corporation"), has closed its 2nd tranche of a private placement in the amount of $102,855.00 as of October 2, 2012.TSX Venture Exchange has conditionally approved the private placement.  Sunset Cove is awaiting final TSXV approval for the private placement subject to this press release and other conditions.The previously announced number of 920,820 Units issued under the 2nd tranche of the private placement has been revised to 979,570 Units.The capital raised for a total of $309,940.00 will be used for general working capital for the Corporation's operations in Peru and Canada.Forward-Looking StatementsSome of the statements contained herein may be forward-looking statements that involve known and unknown risks and uncertainties. Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information.Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability, and the uncertainty of access to additional capital. Sunset Cove disclaims any obligation to update any such forward-looking statements.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.SOURCE: SUNSET COVE MINING INC.For further information: Lorne Woods President Sunset Cove Mining (877) 234-0692; ext 250