C2C Gold Corporation Inc.

C2C Gold Corporation Inc.

December 18, 2007 10:49 ET

C2C Announces a Modification in the Agreement With David Andres Machuca Granda Following the Due Diligence Results and Is Heading Towards the Closing of the Transaction

QUEBEC CITY, QUEBEC--(Marketwire - Dec. 18, 2007) - C2C inc. (TSX VENTURE:CCN) (the "Company" or "C2C") announces that it has completed most of its due diligence for the acquisition of 50% interest in the Paraiso Bella Rica mine situated in Ecuador (the "Paraiso mine"). After discussions, the parties have agreed that it was in the best interest of each of them to joint forces in order to create a joint venture not only to exploit the Paraiso mine but also to explore and develop other mining concessions in Ecuador. On December 14, 2007, the parties have signed a new agreement modifying the letter of intent concluded on March 22, 2007 as amended on September 20, 2007.

C2C is pleased to announce that in the agreement with Mr David Andres Machuca Granda ("Machuca"), in addition to the exploitation of the Paraiso mine, it obtained the right to acquire 50% undivided interest in the PATRICIA mining property covering 1,100 hectares and CERRO De Oro 1, covering 400 hectares, both comprised in C2C's 20x12 km exclusive property.

The parties have also modified the terms and conditions previously negotiated for the acquisition, by C2C, of a 50% participation in the Paraiso mine. C2C shall: (i) pay U.S. $2 250,000 on closing date and make 3 quarterly installments of US $250,000; (ii) issue 6,000,000 common shares on a 3 years period; (iii) pay, on a 3 years period, an additional amount corresponding to 25% of the benefits that C2C will receive from the mining operations and (iv) invest the sum of US $2,000,000 in order to raise the ore quantity and improve the quality of the recuperation process.

C2C shall, in order to acquire 50% of undivided interest for each Patricia and Cerro De Oro 1 property (i) pay the sum of $200,000 on closing date and make 3 quarterly installments of $200,000; (ii) issue 1,000,000 common shares of which 250,000 common shares will be issued on closing date and 250,000 common shares each year for the 3 years to come and (iii) invest the sum of US $2,500,000 for development purposes on each property for the next 4 years.

Both parties notified their legal advisor to finalize all required documents to close the transaction as soon as possible.

C2C is also pleased to announce that all its exploration projects in Quebec are on schedule. C2C will announce drilling results as they will become available.

The conclusion of the transaction is conditional to the approval of the competent Regulatory Authorities.

Concerning C2C

C2C Inc. is a Quebec base mineral exploration company with properties located in Quebec and in the South West part of Ecuador.

Shares outstanding: 59 689 011

The TSX Venture exchange does not accept responsibility for the adequacy or accuracy of this press release.

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