Adventure Gold Inc.

Adventure Gold Inc.

December 30, 2008 13:58 ET

Adventure Gold Announces Closing of an $800,800 Private Placement With Desjardins Securities Inc.

MONTREAL, QUEBEC--(Marketwire - Dec. 30, 2008) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company"), is pleased to announce the closing of a private placement with Desjardins Securities Inc. on December 30, 2008, for gross proceeds of $800,800 (the "Offering"). The Offering consisted of the issuance of 650 Units (the "Units") at a price of $1,232 per Unit. Each Unit is comprised of 6,600 flow-through common shares at a price of $0.14 per flow-through share and 2,800 common shares at a price of $0.11 per common share. All shares issued in relation to this Offering are subject to a four-month hold period.

In connection with the Offering, Desjardins Securities received a cash finder's fee of $80,080 (10% of the gross proceeds of the Offering) and non-transferable broker warrants entitling it to acquire 427,700 common shares (7% of shares issued in this Offering) at a price of $0.14 per common share for a period of 18 months following the closing date.

The net proceeds from the private placement will be used for exploration activities on the Company's Senore property located in the Abitibi region of Quebec and for working capital purposes.


Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Quebec and Timmins, Ontario areas and is led by highly motivated management and technical teams with extensive exploration and mine production experience.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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