GGL Resources Corp.
TSX VENTURE : GGL

GGL Resources Corp.

September 29, 2009 15:12 ET

GGL Resources Corp.: Non-Brokered Private Placement Raises Total of $349,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire – Sept. 29, 2009) –

NOT FOR DISSEMINATION IN THE UNITED STATES

GGL Resources Corp. (TSX VENTURE:GGL) ("GGL") announces that it has closed the final tranche of its non-brokered private placement originally announced on July 17, 2009 and amended August 14, 2009, to bring the total gross proceeds raised to $349,000. In the final tranche, 1,420,000 flow-through units at a price of $0.06 per unit and 2,620,668 non-flow-through units at $0.06 per unit were placed for gross proceeds of $242,440. Each flow-through unit consists of one flow-through common share and one half of one non-transferable non flow-through warrant. Each whole warrant from the flow through unit will entitle the holder to purchase one non flow-through common share until September 21, 2010 at $0.10 per share. Each non flow-through unit consists of one non flow-through common share and one half of one non-transferable common share purchase warrant. Each whole warrant from the non-flow through unit will entitle the holder to purchase one non flow-through common share until September 21, 2012 at $0.10 per share in the first year, $0.20 per share in the second year and $0.30 per share in the third year. The securities in the final tranche have a hold period until January 22, 2010.

If GGL's common shares trade on the TSX Venture Exchange at a closing price greater than $0.50 per share for twenty consecutive trading days at any time after four months and one day from the closing date, GGL may accelerate the expiry of the warrants by giving notice to the holders thereof, and in such case the warrants will expire on the 30th day after the date on which such notice is given. No finders fees were paid in connection with the private placement.

The proceeds from the sale of the units will be used for exploration work on the PGB gold areas and the McConnell property, and for general corporate purposes. The proceeds from the sale of the flow-through shares will be used to incur Canadian Exploration Expense ("CEE"), as defined in the Income Tax Act (Canada). GGL will renounce such CEE to the subscribers effective for the 2009 tax year.

GGL RESOURCES CORP.

Raymond A. Hrkac, President & CEO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered in the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable securities laws or an exemption from such registration is available.

Neither the 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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