Golden Tag Completes $3 Million Financing

December 2, 2010

Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announces that further to their news release dated November 12, 2010, the Company has now completed the previously announced financing of 6 million units (“Unit”), each Unit consisting of a common share (“Share”) and two-year purchase warrant (the “Warrant”) exercisable at $0.60 and $0.70 per Share. PowerOne Capital Markets Limited was instrumental in completion of the placement and received a customary cash commission and 500,000 finder’s warrants exercisable into Units.

 

All securities issued in connection with the private placement are subject to a four month hold period expiring on March 31, 2011. The funds from the private placements will be used for exploration and general corporate purposes.

 

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, after including the announced financing, will now have 45,770,958 issued and outstanding shares.

 

 

 

 

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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