Garson Gold Corp.
TSX VENTURE : GG

Garson Gold Corp.

March 09, 2009 16:26 ET

Garson Gold Adopts Shareholder Rights Plan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 9, 2009) - Garson Gold Corp. (TSX VENTURE:GG) ("Garson Gold" or "the Company") announces that it has adopted a Shareholder Rights Plan (the "Rights Plan"), similar to those of other Canadian public companies.

The principal purpose of the Rights Plan is to provide the Board of Directors with sufficient time to explore and develop all options for maximizing shareholder value if a take-over bid is made for the Company and to provide every shareholder with an equal opportunity to participate in such a bid. The Rights Plan encourages a potential acquirer to proceed either by way of a Permitted Bid (as defined in the Rights Plan), which requires the take-over bid to satisfy certain minimum standards designed to promote fairness, or with the concurrence of the Board of Directors. The Rights Plan is subject to regulatory acceptance. The Board of Directors of the Company is not currently aware of any pending or proposed take over bid and did not adopt the Rights Plan to prevent a take-over of the Company, to secure the continuance of management or the directors in their respective offices or to deter fair offers for the Company's common shares.

In order to implement the Rights Plan, the Board of Directors has authorized the issue of one right (a "Right") in respect of each common share of the Company outstanding at the close of business on March 9, 2009, and each common share of the Company issued thereafter. The Rights are represented by the common share certificates and trade with the common shares. Rights certificates will not be issued and the Rights will not be dilutive, until the Rights separate from the common shares and become exercisable. Accordingly, the issuance of the Rights will not change the manner in which the common shares are currently traded by shareholders.

Under the Rights Plan, 10 trading days after a person has acquired 20% or more of the common shares, other than by way of a Permitted Bid, holders of all remaining common shares will generally be able to exercise rights to purchase additional common shares at a discount to market. The Board of Directors may waive the application of the Rights Plan to any particular acquisition.

The Rights Plan is subject to shareholder approval on or before September 9, 2009. If the Rights Plan is not confirmed by the Company's shareholders, the Rights Plan and all outstanding rights thereunder will terminate and be void and of no further force or effect.

A copy of the Rights Plan and the Company's material change report respecting the Rights Plan will be available on SEDAR at www.sedar.com.

ABOUT GARSON GOLD

Garson Gold holds a 100% interest in The New Britannia Mine (NBM) Project in Snow Lake Manitoba, and the Copper Prince and the McMillan Gold Mine properties located in Ontario. The Company's flagship project is the NBM, which covers approximately 4,840 hectares and hosts the historic New Britannia Gold Mine which operated from 1949 to 1958 and again from 1995 to 2004 and produced approximately 1.43 million ounces of gold. The resource estimate at the NBM property, audited by Micon International Ltd. in accordance with CIM classifications pursuant to National Instrument 43-101, is available for viewing on Sedar (www.sedar.com) and www.garsongold.ca. The Company is nearing completion of a preliminary economic assessment regarding the re-establishment of mining at the No. 3 Zone deposit and re-activation of the 2,150 tonne/day mill which is currently on care and maintenance.

On Behalf of the Board,

David G. Tafel, President and CEO

This news release may contain forward looking statements concerning future operations of Garson Gold Corp. (the "Company"). All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release

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