Batero Gold Corp.

Batero Gold Corp.

September 10, 2010 10:21 ET

Batero Gold Amends Terms of Acquisition Agreement-100% Ownership of Quinchia Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2010) - Batero Gold Corp. (TSX VENTURE:BAT) Mr. Brandon Rook, President and CEO, is pleased to announce that an agreement in principle has been reached to amend the terms of the acquisition agreement for the Company's main Quinchia property in Colombia.

As announced July 26th, 2010 the Company had the commitment to pay $1,750,000 over 4 years and to incur staged work commitments of $5 million over 4 years. Under the terms of the amended agreement, the Company will pay $1,680,000 in units priced at $1.50 each to complete the acquisition. A total of 1,120,000 units will be issued to complete the acquisition of the property. Each unit comprises a share and a half warrant, with each full warrant exercisable for two years at a price of $2.25. There will be no contractual work commitments to earn its interest and there will be no further cash payments payable by the Company to the vendors under the amended agreement, and the Company will hold 100% of the Quinchia Properties, subject only to the issuance of 2,000,000 future contingent shares, as set out in previous news releases.

Brandon Rook, President and CEO states, "We feel the benefits of this transaction to the Company are many, including: eliminating fixed work commitments of $5,000,000, gives the Company flexibility in establishing its work plans and, with no earning obligation, this will assist the Company in future fund raisings, most importantly, this agreement will provide security of tenure of ownership, and finally the reduction of consideration by $70,000 and issuing equity to pay the remaining amount of $1,680,000, will free up cash for possible acquisitions or expanded work programs."

The proposed transaction is subject to finalization of amending agreements and regulatory approvals. The shares to be issued will be subject to escrow.

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Brandon Rook, President & CEO

About Batero Gold:

Batero Gold Corp. (TSX VENTURE:BAT) is a Vancouver-based precious and base metals exploration and development company focused in Colombia's emerging and prolific Mid-Cauca porphyry gold and copper belt. Batero is located within the Quinchia district and has the right to earn a 100% ownership in the Quinchia Project, comprising a 1407.43 hectare tenement. The Quinchia Project includes three known gold porphyry target centres. The Quinchia district and Batero's project is considered socially stable and mining friendly and is supported with a comprehensive infrastructure network. Batero has assembled a strong management and technical team in Colombia whom have contributed to numerous significant discoveries throughout Colombia. Batero plans to leverage its share structure with strategic local and regional relationships, and long-term financial partners, to develop its prospective project into what the Company believes will be Colombia's next major mining venture.

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words expects, plans, anticipates, believes, intends, estimates, projects, potential and similar expressions, or that events or conditions will, would, may, could or should occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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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