Cortez Gold Corp.
TSX VENTURE : CUT

Cortez Gold Corp.

July 30, 2009 10:00 ET

Cortez Closes $1M Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 30, 2009) - Cortez Resources Corp. ("Cortez") (TSX VENTURE:CUT) announced today that it has closed a $1 million financing (the "Offering"). The Offering consisted of 5 million common shares priced at $0.20 per share. As agent for the Offering, Jordan Capital Markets Inc. received a cash commission of $36,640, in addition to a corporate finance fee.

The Offering represents the first tranche of the funds required to complete Cortez's previously-announced proposed Qualifying Transaction, involving the acquisition of various mineral claims in Nevada held by two wholly-owned subsidiaries of Seabridge Gold Inc. ("Seabridge"). Seabridge is listed on the Toronto Stock Exchange (symbol "SEA") and on the New York Stock Exchange - AMEX (symbol "SA"). Cortez is a capital pool company listed on the TSX Venture Exchange (the "Exchange") under the trading symbol "CUT".

All securities issued are subject to a hold period of four months in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.

ON BEHALF OF THE BOARD of Cortez Resources Corp.

Robert Eadie, President & CEO

Neither the 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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