June 21, 2007

Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announced today that it is arranging a non-brokered private placement of up to $1.6 million. The placement will consist of a first tranche of up to $600,000 of flow-through common shares issued at a price of $0.55 per share and a second tranche of between $250,000 and $1,000,000 of non-flow-through units (“Units”) issued at a price of $0.50 per Unit. Each Unit will be comprised of one common share and one common share purchase warrant (a “Warrant”) entitling its holder to acquire one common share of the Company at any time during the two years following its issuance, at a price of $0.60 during the first year and $0.65 during the second year.


The gross proceeds to the Company from the flow-through tranche of this private placement will be used for Canadian Exploration Expenses, which qualify as “flowthrough mining expenditures” on the Company’s joint venture property in Red Lake, Ontario. 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 flow-through common shares and the Units will be sold to “accredited investors” on a prospectus-exempt basis. Closing of this financing is expected to occur on July 6, 2007.


The private placement is subject to regulatory approval, including that of the TSX Venture Exchange. The common shares and Warrants issued pursuant to the private placement, as well as the common shares issuable upon the exercise of the Warrants, will be subject to a four-month hold period under the policies of the TSX Venture Exchange and applicable securities legislation.


Golden Tag Resources Ltd. is a junior exploration company exploring for high grade gold and silver deposits at the San Diego silver project in Durango State, Mexico; the Aquilon Main and Aquilon Extension gold projects in James Bay, Québec; and the McCuaig gold project in Red Lake, Ontario




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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