GOLDEN TAG RESOURCES LTD.

SUITE 114, 186 SUTTON PLACE, BEACONSFIELD, QC. H9W 5S3

PHONE : (514) 426-8542; FAX : (514) 426-8543; EMAIL [email protected]

-NEWS RELEASE-

GOLDEN TAG RESOURCES LTD. ANNOUNCES PLANS TO DRILL

McCUAIG RED LAKE DISCOVERY

- 10,000 feet of drilling to follow up recent high-grade discovery -

Montreal, Quebec, June 26, 2002

Golden Tag Resources Ltd. (GOG: TSX Venture Exchange) is pleased to announce that a 10,000-foot drill program has been approved to test for the continuation of ore grade intercepts at the new “1900” Gold Zone discovered in March, 2002 (see news release dated April 18, 2002). The program is estimated to cost $435,000 and is part of a 12-month minimum $1.0 million budget recently approved by the Red Lake McCuaig Joint Venture (60% Rubicon Minerals Corporation, 40% Golden Tag ). Rubicon is the operator. The McCuaig project is strategically located in the heart of the Red Lake gold camp, and is within 1500 metres of approximately 1.8 million ounces of past gold production and is part of a prolific 25 million ounce gold-bearing trend which hosts the Campbell (Placer Dome) and Red Lake (Goldcorp) mines (Figure 1).

External consultant John J. Watkins, P.Geo. and QP has completed an evaluation of the drilling carried out earlier this year and has identified a possible gold-bearing trend that is open for follow up. This trend appears to be the western extension of the “1900” zone and it lies entirely within the McCuaig property. Following geological work which is to commence shortly, the drill program will test for the continuation of this trend. Drilling is expected to commence in late July to early August 2002.

Highlights of the March, 2002 drill program conducted by Rubicon include 2.21 oz/ton gold over 2.30 feet (75.91 g/t over 0.70 metres) in hole MC-02-32, part of an interval grading 0.67 oz/ton gold over 10.17 feet (22.83 g/t over 3.10 metres). Hole MC-02-27, returned 0.74 oz/ton gold over 5.58 feet (25.48 g/t over 1.07 metres) plus a separate interval of 0.53 oz/ton gold over 1.48 feet (18.08 g/t over 0.45 metres). Gold mineralization, including visible gold noted in 11 holes to date, occurs within heavily silicified and deformed ultramafic rocks in association with disseminated sulphide zones (pyrrhotite, magnetite, pyrite +/- fine-grained arsenopyrite) and in quartz-carbonate (ankerite) veins. Both mineralization types occur in close proximity to major fault zones which have shown to be “pathways” for gold mineralization in the Red Lake camp while the ultramafics act as “traps” for gold. The drill intercepts occur in a geological setting which is interpreted to be analogous to the setting of the major mines in the camp, including Goldcorp’s High Grade Zone.

The Red Lake gold camp of Ontario hosts two high-grade, world class gold mines including Goldcorp’s Red Lake Mine which has reserves of 3.8 million ounces of gold with an average grade of 2.05 ounces of gold per ton in its High Grade Zone. Combined, the Campbell-Red Lake ore bodies contain 23.6 million tons at an average grade of 0.65 oz/ton Au (past production and reserves).

Golden Tag Resources Ltd. is a Montreal, Quebec based Canadian Mineral Exploration Company incorporated in 1982 and trading on the Vancouver, CDNX and TSX Venture Exchange on a continuous basis since that date. There are presently 10.7 million shares issued and outstanding including the effect of the Company's recent financing as announced on June 19, 2002. (see previous news releases at www.goldentag.ca). For more information, please contact Marc Carrier, President at (514) 426-8542; Fax: (514) 426-8543; email: [email protected] .

On behalf of the Board of Directors,

Signed by : Marc A. Carrier

Marc A. Carrier

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.