Adventure Gold Inc.
TSX VENTURE : AGE

Adventure Gold Inc.

July 16, 2009 16:58 ET

ADVENTURE GOLD: Issuance of Shares and Amendment to the Work Commitments on Meunier-144

MONTREAL, QUEBEC--(Marketwire - July 16, 2009) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company"), announces that following discussions with the Optionors regarding the Company's first year Work Commitments on the Meunier-144 property contemplated in the Option agreement between the Company and the Optionors, dated July 8, 2008, (the "Agreement"), the parties have agreed to amend the Agreement whereby the Company's Work Commitments for the 1st year would be reduced to $150,000 and increased by the same amount for the 4th year of the Agreement (the "Amended Agreement"). The schedules pertaining to share issuances and cash payments remain the same. The revised Work Commitments under the Amended Agreement are now as follows:



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Period Work Commitments
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First Anniversary of the Agreement $150,000
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Second Anniversary of the Agreement $500,000
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Third Anniversary of the Agreement $600,000
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Fourth Anniversary of the Agreement $150,000
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Fifth Anniversary of the Agreement $600,000
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TOTAL $2,000,000
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Furthermore, on July 1st, 2009, pursuant to the Cost Sharing Agreement between Everton Resources Inc. ("Everton") and the Company dated January 1st, 2009, Adventure Gold Inc. issued 133,227 common shares at a price of $0.11 ($14,655.00) and 122,125 common shares at a price of $0.12 ($14,655.00) to Everton for services rendered during the first 6 months of 2009. All shares issued are subject to a four month hold period ending November 2nd, 2009. (See press release dated May 22nd, 2009)

Profile:

Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Quebec and Timmins, Ontario areas and is led by determined management and technical teams with extensive exploration and mine production experience. The Company will be active in 2009 with $1,150,000 slated for exploration in the Val-d'Or and Timmins regions and will continue to aggressively seek new properties in compliance with the corporate strategy.

Neither 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 release.

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