$200,000 Convertible Debenture Financing; Options Granted

December 22, 2009

Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announced today that that it has reached agreements in principle to privately place $200,000 in 12% two year unsecured debentures, convertible into Golden Tag Common shares at a price of $0.205 per share. The proceeds will be used for working capital and $100,000 will be purchased by insiders. As well, the Company is granting 2,350,000 five year incentive options for its directors and employees at a price of $0.20 per share. These options were granted pursuant to the Company’s existing stock option plan and are subject to a vesting schedule whereby one-third of the options will vest every six months over an eighteen month period after the date of the grant. The exercise price of the options represents a premium to the allowable discounted price to market.


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 Gold Project in James Bay, Quebec; and the McCuaig gold project in Red Lake, Ontario. Golden Tag’s 50% interest in San Diego Resources represent 2.7 oz. silver equivalent per share with additional potential for increase.





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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