Choice Gold Corp.
CNSX : CHF
MUN : OCG

Choice Gold Corp.

November 17, 2011 16:10 ET

Choice Gold Corp. Announces $750,000 Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2011) -

NOT FOR DISSEMINATION IN THE US OR TO US WIRE SERVICES.

Choice Gold Corp. (CNSX:CHF)(MUN:OCG) ("Choice Gold" or the "Company") is pleased to announce a non-brokered private placement of 2,500,000 units (each a "Unit") at a price of $0.30 per Unit for aggregate proceeds of $750,000 (the "Offering"). Each Unit is comprised of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase, on exercise, one common share (a "Warrant Share") for a period of two years as follows: if exercised in the first year after issuance, each Warrant will be exercisable at a price of $0.50 per Warrant Share; if exercised in the second year after issuance, each Warrant will be exercisable at a price of $0.80 per Warrant Share.

A finder's fee, in accordance with the policies of the CNSX, may be payable in cash and warrants from the proceeds of the proposed Offering. All securities issued pursuant to this financing are subject to a 4-month hold period from the date of closing. The Offering is subject to CNSX approval and any regulatory approvals.

Proceeds of the Offering will be used for further exploration work on Choice Gold's Sugarloaf Peak Gold Project in western Arizona and for general working capital purposes.

About Choice Gold Corp.:

Choice Gold Corp. was created to acquire and advance select high-potential mineral projects and thereby unlock shareholder value. With this goal in mind, the Company has entered an option agreement with Riverside Resources Ltd. (TSX VENTURE:RRI) to acquire a 100% interest in the Sugarloaf Peak Gold Project just west of Quartzsite, Arizona. Sugarloaf Peak covers over 24 km² and was the subject of intermittent drilling and small-scale mining from the 1950s through to the 1990s. For more information about Choice Gold please visit our website at www.choicegoldcorp.com.

Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

These securities have not and will not be registered under United States federal or state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon. This news release does not constitute an offer of securities for sale in the United States.

CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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