Randsburg International Gold Corporation
TSX VENTURE : RGZ

October 27, 2009 17:08 ET

Randsburg Announces Non-Brokered Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Oct. 27, 2009) - Randsburg International Gold Corporation (TSX VENTURE:RGZ) announced today that it has agreed to a non-brokered private placement of up to $148,900 of its securities consisting of the sale of 1,489,000 Units at $0.10 per Unit. Each Unit consists of 1 common share and 1 non-transferable share purchase warrant. Each share purchase warrant grants the right to purchase one common share at an exercise price of $.20 per share for a period of two years from the closing date provided that, if closing price of the common shares is at or exceeds $0.40 for a period of 10 consecutive Business Days, the expiry date of the warrant will be 30 days from the date of notice to the holder advising the holder of the new expiry date. Proceeds of the financing will be used for general working capital.

The Corporation also announced today that it has agreed to a non-brokered private placement of up to $150,000 of its securities consisting of the sale of 1,000,000 common shares with flow-through tax benefits at $0.15 per share. Proceeds of the financing will be used for the advancement of the Corporation's Titan iron-titanium-vanadium deposit located in northern Ontario, Canada.

The Corporation will pay a finder's fee of 148,900 broker warrants to an agent. Each broker warrant grants the right to purchase one common share at an exercise price of $0.20 per share for a period of two years from the closing date. All securities issued in respect of the warrants will be subject to a hold period of 4 months and 1 day from the date of closing. The private placements are subject to regulatory approval.

Pursuant to its stock option plan, the Company has agreed to grant a total of 1,000,000 incentive stock options (the "Stock Options") to officers and directors of the Corporation. Each Stock Option entitles the holder thereof to acquire one common share of the Corporation at an exercise price of $0.10 per common share within 2 years of the date of grant. The grant of the Stock Options is subject to regulatory approval.

On behalf of the Board of Directors of Randsburg International Gold Corp.

Michael Opara, President and Chief Executive Officer

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