GOLDEN TAG CLOSES $1,895,000 PRIVATE PLACEMENT

July 18, 2007

Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announces the closing of the unit portion of its non-brokered private placement (the “Placement”), resulting in gross proceeds to the Company of $1,895,000, being $895,000 higher than the $1,000,000 initially contemplated by the Company for this portion of the Placement and announced in its press release dated June 21, 2007. These proceeds will be used to fund exploration on the Company’s projects and to provide working capital. Pursuant to the closing of the Placement, the Company issued an aggregate of 3,790,000 units at a price of $0.50 per unit. Each unit is comprised of one common share and one common share purchase warrant entitling its holder to acquire one common share during a two-year period ending July 18, 2009, at a price of $0.60 during the first year and $0.65 during the second year. The units are subject to a four month hold period during which no transactions are permitted. Such hold period will expire on November 19, 2007. The Company will not proceed with the previously announced $600,000 “flow-through” portion of the Placement.

 

LEARN MORE

 

 

 

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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