Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announces the closing of the first tranche of the non-brokered private placement announced on December 16, 2005 resulting in proceeds of $100,000 being received by the Company. The purpose of the private placement is to fund exploration on the Company’s projects and for general corporate purposes. Pursuant to the closing of this first tranche of the private placement, the Company issued an aggregate of 666,666 units at a price of $0.15 per unit. Each unit is comprised 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 $0.20 at anytime before December 29, 2007. Furthermore, the units are subject to a four (4) month hold period during which no transactions are permitted. Such a hold period will end on April 30, 2006.
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 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.