Golden Tag Completes $2.75 Million Financing Including Investments from Sprott Asset Management LP and Pinetree Capital Ltd.

April 21, 2011

Terminates Sale of 50% of Aquilon Property, Quebec April 12, 2016 Montreal, Quebec :

 

Golden Tag Resources Ltd (TSX-V: GOG) (“the Company”) is pleased to announce that further to its news release dated April 5, 2011, the Company has now completed the previously announced non-brokered financing of 5 million units at a price of $0.55 per unit for aggregate gross proceeds of $2,750,000.

 

The company is pleased to have Sprott Asset Management LP, on behalf of certain funds and managed accounts, and Pinetree Capital Ltd. invest in the company through the acquisition of units.

 

PowerOne Capital Markets Limited was instrumental in completion of the placement and received a customary cash commission and 500,000 finder’s warrants exercisable on the same terms as the units.

 

All securities issued in connection with the private placement are subject to a four month hold period expiring on August 21, 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 has 52,450,958 issued and outstanding shares including the shares issued for the above noted financing

 

 

 

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

 

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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