Guardians of Gold Inc.

January 18, 2010 13:48 ET

"Guardians of Gold" (GGUO) Retains Investment Banker Covehill Consulting Inc. To Raise $3,500,000

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2010) - Guardians of Gold announced today that it has engaged Covehill Consulting, Inc. ("Cove Hill") of New York and Vermont US to advise the Company to initiate and direct an effort to raise $3,500,000 and additional merger strategies. Such funds are to be used in exploiting the Company's gold project at the Ross Mine in Holtyre, Northern Ontario. In connection to which, a report under the guidelines of National Instrument 43-101 has been completed.

"We are particularly pleased in this engagement," said Jordan Starkman, President of Guardians of Gold, "David Russell, the principal of Cove Hill is an experienced investment banker and corporate advisor with over forty years of his career spent in the financial services arena.

His background and insights are complemented by his knowledge of the financial terrain." Mr. Russell is the Managing Director of Cove Hill Consulting, Inc. Cove Hill was originally organized in 1995 to succeed a sole proprietorship begun in 1989. Mr. Russell has been a principal in several Wall Street firms including, SG Cowen, Donaldson Lufkin & Jenrette, Jeffries & Co. and Dominick & Dominick. He has a BA from Harpur College and an MBA from NYU.

40,136,000 common shares issued

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

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