Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announces that it is proposing to increase the size of its previously announced non brokered private placement(see news release of December 16, 2005) from up to $1,500,000 to up to $1,725,000. To date a total of 1,111,110 flow-through common shares have been issued at $0.18 per share for gross proceeds of $200,000. In addition, 1,000,000 units have been issued on a non flow-through basis at $0.15 per unit for gross proceeds of $150,000. 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 proposed increase in the size of the placement is a result of expressions of interest received by the Company in an amount which may exceed the size of the initial proposed offering.
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.