Adventure Gold Inc.
TSX VENTURE : AGE

Adventure Gold Inc.

December 09, 2010 13:30 ET

Adventure Gold Appoints Robert Boisjoli as New CFO and Amends its Stock Option Plan-Granting of Options

MONTREAL, QUEBEC--(Marketwire - Dec. 9, 2010) - Adventure Gold Inc. (TSX VENTURE:AGE) (the "Company"), is pleased to announce the appointment of Robert Boisjoli to the position of Chief Financial Officer of the Company, effective December 8, 2010. Mr. Boisjoli is a Chartered Accountant (CA) and a Chartered Business Valuator (CBV), and holds a Bachelor of Commerce and Diploma in Accounting from Concordia University (Montréal). Mr. Boisjoli is currently a Managing Director at Atwater Financial Group and Chief Financial Officer of Brionor Resources Inc. (BNR: TSX-V). Mr. Boisjoli is also a Director and audit committee chairman of both Aptilon Corporation (APZ: TSX-V), a customer relationship manager for the pharmaceutical industry, and Mitec Telecom Inc. (MTM: TSX), a designer and manufacturer of wireless and satellite components. He previously held the position of Chief Financial Officer of both Topigen Pharmaceuticals and Xanthus Pharmaceuticals Inc., a Boston based biotechnology firm, of which he is a co founder. He was also an investment banker with various Canadian securities' firms and contributed to the creation of a mutual fund in the Quebec market.

The appointment follows the departure of Ms. Khadija Abounaim who was the CFO of the Company since November 3, 2008. "On behalf of the Board, the management and technical teams, I would like to thank Khadija for her contribution to Adventure Gold's growth and for her remarkable work done over the last two years. We wish her the best of luck in her continuing CFO position with other mining exploration companies." stated Marco Gagnon, President & CEO of Adventure Gold.

In other news, the Company also announces that the Board of Directors has approved an amendment to the Company's Stock Option Plan which amendments included, amoing others, the increase of the number of shares reserved for issuance thereunder. Pursuant to the policies of the TSX-V, the maximum number of shares reserved for issuance under the Stock Option Plan will be increased to 4,970,000 common shares, being slightly less than 10% of the Company's issued and outstanding shares as at the date hereof. Concurrently with the increase, the Company has granted 450,000 stock options to Officer, Directors, Consultants, and employees of the Company. Each option entitles the holder to purchase one common share of the Company at a price of $0.53 per share for a period of ten years.

Profile:

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, Rouyn-Noranda and Timmins areas and is led by determined management and technical teams with extensive exploration and mine production experience. Adventure Gold is proud to count on highly regarded partners such as Agnico-Eagle Mines, Lake Shore Gold and RT Minerals to explore advanced stage gold properties. The Company owns more than $4M in cash and stocks and will continue to aggressively seek new properties in compliance with the corporate strategy.

The forgoing information may contain forward-looking statements and events relating to the future performance of the Company. Forward looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate regulatory authorities. We seek safe harbour.

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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