Raven Gold Corp.
OTC Bulletin Board : RVGC

Raven Gold Corp.

January 16, 2007 09:03 ET

Raven Gold Corp.: Mining Commences as Mill Expansion Nears Completion at La Currita

LAS VEGAS, NEVADA--(CCNMatthews - Jan. 16, 2007) - Raven Gold Corp. ("Raven") (OTCBB:RVGC) and Tara Gold Resources Corp. are pleased to announce that contract miners have begun producing and stock piling ore for processing at the La Currita project located in Temoris, Chihuahua, Mexico.

In May, 2006, Raven signed a Joint Venture Agreement with Tara Gold giving Raven the option to earn up to 60% interest in the La Currita Groupings by making certain payments to Tara Gold Including:

- Issuing 750,000 shares

- Making all remaining property payments

- Spending a minimum of $3.5 million over the next 36 months

- Reaching increased production levels

Operation update:

The miners are currently working the faces of an approximately 14 meter wide vein that is producing an estimated 160 tonnes per day from two 4.5 m wide by 3 m high faces. A second shift is scheduled to begin by next week, bringing total daily production to 320 tonnes per day. Concurrently, miners are cross cutting the vein to expose two additional faces, which can then provide another 320 tonnes per day of ore for the expanding Mill.

The expansion of the La Currita Mine and Mill has been ongoing and is now nearing completion. The plant has seen the addition of a 6' x 12' Ball Mill, a 6" Cyclone Classifier, an additional bank of Floatation Cells, and various other upgrades. Production from the plant is anticipated to begin before the end of January, 2007.

Mr. Gary Haukeland, President of Raven Gold Corp. said, "We are nearing the completion of our phase one goals at the La Currita mine and we are right on schedule. Now we can prepare for beginning phase two expansion plans, the commencement of the production from the plant and generation of revenues..."

About La Currita

The La Currita Groupings includes 4 mines, a 150 ton/day operating floatation mill and stockpiled ore. The La Currita mine was in steady production from 1983 until 1998. A diamond drilling exploration program conducted in 1998 indicated grades of 2.59 g/t Au and 200 g/t Ag. Existing mines and mineralized structures hold potential to increase tonnage through systematic exploration. The area surrounding La Currita has numerous mines and recent substantial discoveries. Adjacent to the La Currita holdings, Palmarejo has announced an inferred resource of 3.1 million ounce gold equivalent on their property. In addition, about 20 miles to the SE is the 170,000 ounce/year Glamis Gold's El Sauzal gold mine and 40 miles to the North is Gammon Lake Resource's Ocampo Gold-Silver Project with a projected 270,000 gold-equivalent ounces/year.

About Raven Gold Corp.

Raven Gold Corp. is an international gold mining company, with advanced exploration and development projects. Raven's mandate is to initiate an aggressive acquisition policy, focusing on under-explored to advanced stage exploration gold deposits in North and South American countries. Raven is focused on becoming a low cost gold producer in the next two years, as it puts the La Currita Mines into production in Mexico.

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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