December 16, 2005

Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announced today that it is arranging a non-brokered private placement of up to $1.5 million. The placement will consist of a first tranche of up to 1,400,000 “flow-through” common shares at a price of $0.18 per share for gross proceeds to the Company of $252,000. The second tranche of the private placement will consist of up to 8,320,000 units offered on a non-flow-through basis, at a price of $0.15 per unit for gross proceeds to Golden Tag of $1,248,000. Each unit is comprised of one common share and one common share purchase warrant entitling its holder to acquire one common share of the Company for a consideration of $0.20 at any time for a period of 24 months from the date of issuance of the units.


The net proceeds to the Company from the flow-through tranche of this private placement will be used for exploration expenses on the Company’s properties in Canada. The net proceeds to the Company from the non-flow-through tranche of this private placement will be used for expenses related to the Company’s projects in Mexico and for general corporate purposes.


It is expected that the common shares will be sold to “accredited investors” on a prospectus-exempt basis. Closing of the “flow-through” common share portion of the placement is expected to occur on or before December 30, 2005.


The private placement is subject to regulatory approval, including that of the TSX Venture Exchange. The Common shares issued in the private placement will be subject to a four-month hold period under the policies of the TSX Venture Exchange and applicable securities legislation.


Golden Tag currently holds an option on the Aquilon property, a prospective gold project in the James Bay area of Northern Quebec, and has recently acquired an option to earn a 50% interest in the San Diego property, Durango State, Mexico.




For additional information, please contact:


Golden Tag Resources Ltd.

Marc A. Carrier, President & CFO

Ph: (514) 426-8542

Fax: (514) 426-8543




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


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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