GOLDEN TAG ANNOUNCES FINANCING

February 9, 2005

Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announces today its intention to complete a private placement with arm’s length subscribers for gross proceeds of between CDN $150,000.00 and CDN $750,000.00. The private placement is intended to be for a minimum of 750,000 and a maximum of 3,750,000 units, at a price of CDN $0.20 per unit. Each unit will comprise of one (1) common share of Golden Tag and one (1) common share purchase warrant entitling the subscriber to acquire one (1) common share at a price of CDN $0.25 for a period of two (2) years following the completion of the private placement.

 

Golden Tag is seeking protection of the issuance price from the TSX Venture Exchange and will file a private placement notice form within thirty (30) days. The issuance price was determined by Golden Tag in accordance with the pricing requirements of the TSX Venture Exchange.

 

The net proceeds of the offering will be used by Golden Tag for exploration on the Aquilon Property in James Bay, Québec, for the planned identification and acquisition of mining projects in Mexico and for working capital purposes.

 

 

 

 

For additional information, please contact:

 

Golden Tag Resources Ltd.

Marc A. Carrier, President & CFO

Ph: (514) 426-8542

Fax: (514) 426-8543

Email: pres@goldentag.ca

Web: www.goldentag.ca

 

Cautionary Statement: Statements in the release that are "forward looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. For a discussion of the risk factors that are inherent in the Mining Industry see our public filings at www.sedar.com.

 

Neither the 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 news release.

 

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