Garson Gold Corp.

Garson Gold Corp.

December 28, 2007 17:03 ET

Garson Gold Closes $5.8 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 28, 2007) - Garson Gold Corp. (TSX VENTURE:GG) ("Garson Gold") ("the Company") is pleased to announce the closing of a brokered and non-brokered private placement originally announced November 30, 2007. The Company raised gross proceeds of $5,871,982 and has issued 7,793,268 non flow-through units priced at $0.26 per unit (each unit consisting of one share and one-half a share purchase warrant, each whole warrant exercisable for one common share at $0.35 for a period of two years from closing) and 12,017,912 flow-through shares priced at $0.32 per share.

Bolder Investment Partners Ltd., First Canadian Capital Markets Ltd., and Wellington West Capital Inc. acted as agents for the brokered portion of the offering which consisted of 2,795,115 units and 11,564,162 flow-through shares. The agents received 7.5% cash compensation, and 10% agent's warrants based on the total units and flow-through shares placed respectively; each warrant exercisable on the same terms as the subscribers.

The non-brokered portion of the placement consisted of 4,998,153 units and 453,750 flow-through shares. Finders' fees in the amount of $20,475 and 52,500 warrants (exercisable on the same terms as the subscribers and agents) were paid. All securities issued are subject to a four-month hold period expiring April 22, 2008. Warrants will expire on December 21, 2009.

Proceeds from the private placement will be used for financing the previously announced scoping study (News Release dated December 10, 2007), for continued exploration of the New Britannia Mine property based in Snow Lake, Manitoba, and for general working capital.


Garson Gold owns a 100% interest in The New Britannia Mine (NBM) Project which covers approximately 3,900 hectares and hosts the historic New Britannia Gold Mine which operated from 1949 to 1958 and again from 1995 to 2004 and produced approximately 1.43 million ounces of gold. The current resource estimate at the NBM property audited by Micon International Ltd. to NI 43-101 standards is available for viewing on Sedar ( and

On Behalf of the Board,

David G. Tafel, President and Director

This news release may contain forward looking statements concerning future operations of Garson Gold Corp. (the "Company"). All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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