C2C Gold Corporation Inc.
TSX VENTURE : CCN

C2C Gold Corporation Inc.

March 23, 2005 10:25 ET

C2C inc.: Agreement With Kinbauri Gold Corp. for a $250,000 Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: C2C INC.

TSX VENTURE SYMBOL: CCN

MARCH 23, 2005 - 10:25 ET

C2C inc.: Agreement With Kinbauri Gold Corp. for a
$250,000 Private Placement

MONTREAL, QUEBEC--(CCNMatthews - March 23, 2005) - C2C (TSX VENTURE:CCN)
is pleased to announce that it has reached an agreement to transfer its
right of first offer to option the Corcoesto Property, from Rio Narcia
Gold Mines Ltd., to Kinbauri Gold Corp.(Kinbauri). The Corcoesto
property is located in Northwestern Spain, and have measured resources
of 171,000 ounces of gold (3,648,000 tonnes averaging 1.46 g/t Au) and
indicated resources of 186,000 ounces of gold (4,024,000 tonnes
averaging 1.45 g/t Au).

Kinbauri agreed to complete a private placement of $250,000 at $0.25
with C2C and grant 1.5% NSR on any of Kinbauri's share of production on
the Corcoesto property (one half of whith can be bought back for
$750,000). Moreover, Kinbauri will receive one warrant for each common
share acquired from the private placement, exercisable at $0.30 for a
period of 24 months.

C2C is a junior company actively exploring the Penedono Project located
in north-eastern Portugal with the collaboration of Rio Narcia Gold
Mines Ltd. its joint venture partner. A diamond drilling program of
approximately 1500 meters is being completed on the property and results
will be revealed as soon as available from the labs.

C2C has over $650,000 CDN in cash to fund it's near to medium term
exploration expenses. C2C presently has 15,010,977 common shares issued
and outstanding; 21,824,310 fully diluted.

This placement has been approved by the board of director of C2C on
February 3rd 2005. The placement is subject to the final approval of the
TSX Venture Stock Exchange.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    C2C inc.
    Alain Paquet
    President
    (514) 336-9211
    or
    C2C inc.
    Marc-Andre Larouche
    Financial Vice-president
    (819) 824-2072
    info@c2c-exploration.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.