BOXXER GOLD CORP.

BOXXER GOLD CORP.

March 23, 2005 16:15 ET

Boxxer Closes Private Placements


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BOXXER GOLD CORP.

TSX VENTURE SYMBOL: BXX

MARCH 23, 2005 - 16:15 ET

Boxxer Closes Private Placements

CALGARY, ALBERTA--(CCNMatthews - March 23, 2005) - Boxxer Gold Corp.
(TSX VENTURE:BXX) reported today that it has closed the two previously
announced private placements.

The first private placemement included 1,200,000 Units at $0.10 per Unit
for proceeds of $120,000 and was completed by two directors of Boxxer.
Each unit consisted of one common share and one-half transferable common
share purchase warrant. Each full warrant allows the holder to exercise
into one additional common share of Boxxer for a period of two years, at
$0.15 for the first year and $0.20 in the second year. A four month hold
period applies to these common shares until June 29, 2005. No commission
or finders fee was payable on this transaction.

Concurrently, a second private placement for 1,000,000 Units priced at
$0.10 per Unit was also completed. Each unit is comprised of one common
share of Boxxer and one-half transferable common share purchase warrant.
Each full warrant entitles the owner to acquire an additional common
share of Boxxer for a period of two years, at a price of $0.15 for the
first year and $0.20 in the second year. A commission of 6%, or $6,000,
was payable to Golden Capital Securities Ltd. on this transaction. A
four month hold period applies to these securities until July 8, 2005.
Proceeds from both the private placements will be used for general
working capital.

If you wish to receive company press releases via email, please advise
Alison Tullis at alison@chfir.com

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact,
all statements in this news release -including, without limitation,
statements regarding production estimates and future plans and
objectives of Boxxer - are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate; actual results and future events
could differ materially from those anticipated in such statements.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Boxxer Gold Corp.
    Colin Christensen
    President
    (403) 410-1303
    (403) 266-4124 (FAX)
    Email: colin@boxxergold.com
    or
    Cavalcanti Hume Funfer Inc., Investor Relations
    Cathy Hume
    CEO
    (416) 868-1079, Ext 23
    Email: cathy@chfir.com
    Website: www.chfir.com
    or
    Cavalcanti Hume Funfer Inc.
    Linda Armstrong
    Vice President
    (416) 868-1079, Ext 229
    Email: linda@chfir.com
    Website: www.chfir.com
    The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy
    or Accuracy of This Release