C2C Gold Corporation Inc.
TSX VENTURE : CCN

C2C Gold Corporation Inc.

February 25, 2009 09:27 ET

C2C Pours Gold in Ecuador

QUEBEC CITY, QUEBEC--(Marketwire - Feb. 25, 2009) - Yves Gagnon, president of C2C Gold Corporation Inc. (TSX VENTURE:CCN) (the "Company" or "C2C"), is pleased to announce that the Joint Venture, 50% owned by C2C, that is operating the Paraiso-Pambil mine located in Ecuador has poured its first gold in 2009. C2C's share of the gold amounts to approximately 300 ounces of gold produced with the first pouring technique upgrades improved by C2C's professional people.

The Paraiso-Pambil mine and mill complex is presently operating uninterrupted, 7 days a week under the Joint Venture Management. As part of its contract commitments, C2C is actually sending in Ecuador milling and mining equipment that will help improving the operations. The actual "artisanal" and low tonnage operations will be implemented and modernized to achieve the Joint Venture goals to create a strong midsize gold mining and processing Company that will be profitable for both its shareholders and employees.

Yves Gagnon, President was heading the Canadian delegation at the recent 27th Anniversary of the Paraiso Mine on January 17th, 2009. Mr. Gagnon stated "this is a historic event for C2C and its partner Andres David Machuca Granda ("ADMG"), as it is the culmination of the belief in us (C2C and ADMG management and their employees) by our shareholders and the hard work and dedication of all those involved (employees and consultants) to make the Joint Venture creation a milestone in the Company's future success."

On February 11th, 2009, C2C granted to Consultants 800 000 options at a price of 0.10 $ per option. The options are exercisable over a period of 2 years.

C2C is also pleased to announce that it retained Ansacha Capital services ("Ansacha") from Blainville, Quebec, whose responsible is Mr. Jean-Francois Lemay for a 6 month period. This business contract goal is to help C2C diffuse over the market community the data concerning C2C, its properties and its expertise. For those services, Ansacha will receive a monthly payment of 5 000 $ and the option to purchase 150 000 ordinary shares of C2C at 0.15 $ per share. C2C also gave the option to Centre Financier de la Cite Inc. to purchase 300 000 ordinary shares of C2C at 0.15 per share in accordance to the renewal of the its investors relation and financing communication signed between Centre Financier de la Cite Inc. and C2C on November 20th 2006. The contract with Ansacha and the options awarded are submitted to the regulatory authorities approval.

C2C would also like to clarify that the private placement closed on December 4, 2008 for a total amount of 1 200 000 $ is the same private placement that was announced on September 29th, 2008. To the TSX request, C2C specifies that within this private placement, Centre Financier de la Cite Inc. controled by M. Louis Lessard received 102,000 $ in intermediation fees. Finally, for the acquisition of the Paraiso-Pambil mine, C2C was to issue to the following a total of 2,200,000 ordinary shares at the same pace the payments were to be done following the option agreement signed between C2C and ADMG: Gestion J. Contreras (552,500), Centre Financier de la Cite inc (535,500), Gestion Allard Dube Inc. (345,000) and Jhinson Machuca Lhoyza (125,000). A total of 742,000 ordinary shares were issued at the closing of the Paraiso-Pambil mine acquisition on December 4th 2008.

C2C's Board of Directors decided on February 11th, 2009 to sell its interests in all exploration projects under development in Quebec. A due diligence will provide all the terms and conditions under which this transaction will be made and those transaction terms will be published in the future.

C2C also announces its intent to proceed with a private placement of a maximum of 1,000,000 $. Each unit will be composed of one ordinary share of C2C at 0.075 $ and one warrant. Each warrant will enable its holder to subscribe to one ordinary share of C2C at a price of 0,10 $ per share over a 24 month period following the closing date. Intermediation fees representing 10 % of the gross product from the placement will be paid to a number of market intermediates including some insiders of C2C.

C2C will then be an active gold producer working in southwestern Ecuador.

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to be materially different from any future results.

Shares outstanding : 94 299 344

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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