Aberdeen International Inc.

Aberdeen International Inc.

October 02, 2007 10:00 ET

Aberdeen International to Acquire 12.1% Stake in Glencairn Gold Corporation (TSX:GGG) with $7.0 Million Private Placement


TORONTO, ONTARIO--(Marketwire - Oct. 2, 2007) - ABERDEEN INTERNATIONAL INC. ("Aberdeen" or the "Company") (TSX VENTURE:AAB) is pleased to announce that it is investing $7 Million in Glencairn Gold Corporation ( "Glencairn") (TSX:GGG). As part of a $22,000,000 underwritten private placement led by Orion Securities, Aberdeen will acquire 46,666,667 units and subscription receipts priced at $0.15. Each unit or subscription receipt, as the case may be, will entitle the holder to acquire one common share and one-half of one common share purchase warrant, without payment of additional consideration. Each whole common share purchase warrant will entitle the holder to acquire one common share at a price of $0.18 at any time prior to the date that is three years from the date of issue.

Upon completion of the private placement financing Stan Bharti, Chairman of Aberdeen, will be appointed as Chairman of the Board of Glencairn. George Faught, President and CEO of Aberdeen, will also join Glencairn's Board of Directors.

Dr. Bill Pearson will also be joining the management team of Glencairn as Executive Vice President, Exploration. Dr. Pearson brings considerable expertise in gold exploration particularly in South America and was Vice-President, Exploration for Desert Sun Mining Corp. prior to its sale to Yamana Gold Inc. in April 2006.

"This financing and restructuring will allow Glencairn to build the Company from a solid foundation based on our Nicaraguan gold assets," said Peter Tagliamonte, President and Chief Executive Officer of Glencairn. "The addition of Dr. Bill Pearson brings tremendous strength and experience to our exploration team. Additionally, Mr. Stan Bharti, in his role as Chairman, and George Faught, as a director, offer Glencairn complementary skills to our existing Board."

"With the completion of the private placement, the Company will be fully funded to complete the new mill facilities at its Libertad Mine, improve efficiencies at its Limon Mine and pursue a $7 million exploration program to expand mineral reserves and resources," Mr. Tagliamonte stated.

In addition to Aberdeen's investment, Mr. Stan Bharti and associates will subscribe for $1 million of the offering.

Mr. Stan Bharti, Executive Chairman of Aberdeen, stated "we are pleased to participate in this investment which exemplifies our strategy of providing a combination of financial, technical and strategic expertise to realize the potential value for all Glencairn shareholders".

George Faught, President and CEO of Aberdeen, stated "We are extremely excited with the opportunity to acquire a significant position in Glencairn. The completion of this private placement funding will provide Glencairn's management, led by Mr. Peter Tagliamonte and board, with the opportunity to realize the full exploration potential of Glencairn's Nicaraguan gold assets".

Completion of the private placement is subject to receipt of all required regulatory and other approvals, including the approval of the Toronto Stock Exchange. It is anticipated that the private placement will close on or about October 22, 2007. Conversion of the subscription receipts into the underlying common shares and common share purchase warrants is conditional upon Glencairn shareholders approving the private placement.

About Glencairn Gold Corporation

The Company is a gold producer with mining and exploration activities focused in Central America. The Company operates the Limon Mine in Nicaragua and plans to convert the Libertad Mine in Nicaragua to conventional milling and expand annual gold output. It also holds a 100% interest in the Mestiza gold property which is located 70 kilometres from the Limon Mine. The Company focuses on efficient and productive mining practices to establish a firm base of quality operations. Glencairn is committed to growth by optimizing current operations and expanding mineral reserves at existing mines.

About Aberdeen International Inc:

Aberdeen is a publicly traded global investment and merchant banking company focused on small cap companies in the resource sector. Aberdeen will seek to acquire significant equity participation in pre-IPO and/or early stage public resource companies with undeveloped or undervalued high-quality resources. Aberdeen will focus on companies that: (i) are in need of managerial, technical and financial resources to realize their full potential; (ii) are undervalued in foreign capital markets; and (iii) operate in jurisdictions with moderate local political risk. Aberdeen will seek to provide value-added managerial and board advisory services to companies. The Corporation's intention will be to optimize the return on its investment over an 18 to 24 month investment time frame.

Aberdeen International Inc.

Please visit the Company's web site at www.aberdeeninternational.ca or write us at info@aberdeeninternational.ca.

Glencairn will host a conference call and webcast on Tuesday, October 2nd at 11:00 a.m. E.T, which Stan Bharti and George Faught will participate in.

Date: Tuesday, October 2
Time: 11:00 a.m. E.T
Local Callers: 416-641-6127
North American Callers: 1-866-542-4238 toll free
International Callers: 1-416-641-6127

You may also listen to the webcast at www.glencairngold.com. An
archive of the conference call and webcast will be available on
Glencairn's website.


Cautionary Notes

With respect to all statements herein relating to Glencairn, its business and its prospects, Aberdeen has relied solely upon the management of Glencairn.

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the Company's plan of business operations; projections regarding future success based on past success; ability to identify and execute investments; investment philosophy and business purposes; projected costs and expenditures; potential benefits of the business and of specific investments; and anticipated returns. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. In particular, past success or achievement does not guarantee future success. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forwardlooking information, whether as a result of new information, future events or otherwise.


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