Garson Gold Corp.

Garson Gold Corp.

November 25, 2008 18:16 ET

Garson Gold Closes Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2008) - Garson Gold Corp. (TSX VENTURE:GG) ("Garson Gold" or "the Company") is pleased to announce it has closed a non-brokered private placement of 25,657,160 flow-through common shares priced at $0.05 for gross proceeds of $1,282,858. Proceeds from the private placement will be used to finance continued advanced exploration and drilling on the New Britannia Gold Mine property. Major institutional investors in the financing included MineralFields Group and Faircourt CSCRF 2008 No. 1 LP.

All securities issued will be subject to a four-month hold period expiring March 20, 2009. Finders' fees of $86,860 in cash and 1,961,370 common shares purchase warrants exercisable at $0.10 for two years from the closing date were payable in respect of this closing.

"We are encouraged by the strengthening of our relationship with the MineralFields Group and Faircourt 2008 LP," said David Tafel, President and Director. "Given the current economic climate, the re-investment by these key shareholders is both a supportive signal and instrumental to our goals of continuing to develop the New Britannia Mine project in Snow Lake, Manitoba. We look forward to working with these groups alongside our other long-term shareholders in our combined objective of building shareholder value."


MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at

Faircourt CSCRF 2008 No. 1 LP is a joint venture between Faircourt Asset Management Inc. of Toronto ( and NovaDX Ventures Corp. (NDX-V of Vancouver. Faircourt is a privately held investment firm that creates value-added tax-efficient investment solutions for Canadian retail investors. NovaDX is a leading, publicly-traded investment firm that provides capital investment, investment banking, financial and business advisory services to early-stage natural resource exploration companies, as well as fund administration services to investment funds and private clients. NovaDX has direct investments in a growing portfolio of early-stage companies that it believes have an above average opportunity to provide a high return on investment through the discovery of new mineral deposits and petroleum reserves. NovaDX is growing its investment portfolio and corporate financial services business through a combination of direct investment in targeted companies and the acquisition of portfolio assets of flow-through limited partnerships, including those of its wholly-owned subsidiary, Canadian Small Cap Resource Funds.


Garson Gold holds a 100% interest in The New Britannia Mine (NBM) Project in Snow Lake Manitoba, as well as the Copper Prince and the McMillan Gold Mine properties located in Ontario. The Company's flagship project is the NBM, which covers approximately 4,840 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 resource estimate at the NBM property, audited by Micon International Ltd. in accordance with CIM classifications pursuant to National Instrument 43-101, is available for viewing on Sedar ( and A modern mill capable of processing 2,150 tonnes/day and ancillary surface and underground infrastructure facilities have been kept on care and maintenance since the NBM project was purchased by the Company in December 2006.

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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