Tiberius announces new private placement

VANCOUVER, May 28 /CNW/ - Tiberius Gold Corp. ("Tiberius") is pleased to announce a non-brokered private placement of a maximum of 9,090,909 units at $0.55 per unit, for proceeds of up to $5,000,000. Each unit consists of one common share valued at $0.25 and one flow-through common share valued at $0.30. A finder's fee of 7.5% will be paid to registered finders in connection
with this transaction. This offering is being conducted by way of offering memorandum. The minimum investment is $2,750 (5,000 units) and the offering is scheduled to close on June 28, 2008.
The net proceeds of the private placement will be used to complete Tiberius' corporate and exploration objectives including a planned diamond drilling program and bulk sample.

About Tiberius Gold Corp.

Tiberius Gold Corp. is a mineral exploration and development company formed in 2007. Tiberius' Manitoba gold projects are an exciting mix of potential production and large-scale exploration. With over 1 kilometre of exposed potentially gold bearing veins at surface, Tiberius' efforts are focused towards production. In addition, Tiberius holds a large 638 square kilometre exploration property which provides additional significant exploration potential.
For more information on Tiberius Gold Corp., please visit
www.tiberiusgold.com.

This news release may contain "forward-looking" statements based on the opinions of management; actual results may differ materially. This is not a solicitation for investment.

For further information: Mr. Kevin Strong, VP of Investor Relations,
T: (604) 630-9952 or 1-877-630-9778 x952,

E: kstrong@tiberiusgold.com