San Gold Corp. announced that it has closed its private placement offering (Offering) with a syndicate of agents co led by Primary Capital Inc. and CIBC and including Dundee Securities Ltd. (Agents) of common shares of the Company issued as 'flow-through shares' within the meaning of the Income Tax Act (Canada) (Flow-Through Shares). At the closing, the Company issued 7,957,700 Flow-Through Shares at a price of $3.75 per Flow-Through Share for total gross proceeds to the Company of $29,841,375. The Flow-Through Shares are subject to a hold period of four months and a day from the date of issuance in accordance with applicable securities laws. In connection with the Offering, the Agents 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.