San Gold completes $26.53-million private placement
Ticker Symbol: C:SGR

San Gold completes $26.53-million private placement

San Gold Corp (C:SGR)
Shares Issued 268,585,089
Last Close 3/25/2010 $3.10
Friday March 26 2010 - News Release

Mr. Dale Ginn reports

SAN GOLD CORPORATION ANNOUNCES CLOSING OF $26 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT AT $4.05 PER SHARE

San Gold Corp. has closed its private placement offering of 6,551,000 common shares of the company issued as flow-through shares, within the meaning of the Income Tax Act (Canada), at a price of $4.05 per flow-through share for total gross proceeds to the company of $26,531,550.

The Company initially announced that it would issue only 6,180,000 Flow-Through Shares pursuant to the Offering, but the size of the Offering was increased in order to meet demand from investors. Dundee Securities Corporation, Cormark Securities Inc., Raymond James Ltd. and CI Capital Markets Inc. acted as underwriters for the Offering. The Flow-Through Common Shares are subject to a hold period of four months and a day from the date of issuance in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

In connection with the Offering, the Underwriters received a cash commission equal to 5% of the gross proceeds raised under the Offering. The gross proceeds of the Offering will be used for exploration and development on the Company's mineral properties.

� 2010 Canjex Publishing Ltd.