Garson Gold Corp.

Garson Gold Corp.

June 30, 2009 16:27 ET

Garson Gold Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2009) - Garson Gold Corp. (TSX VENTURE:GG) ("Garson Gold" or "the Company") announces, further to its news release dated June 8, 2009 that is has closed the first tranche of a non-brokered private placement for 3,606,000 flow-through units priced at $0.07 for gross proceeds of $252,420. Each Unit consists of one common share and one half share purchase warrant. Each whole warrant will be exercisable for one common share at $0.12 for a period of two years from closing.

All securities issued in this first tranche will be subject to a four-month hold period expiring October 26, 2009. Finders' fees consisting of $10,123 and 106,800 broker warrants have been paid. The brokers' warrants have the same terms as the subscribers' warrants.

Proceeds from this financing will be used to continue the summer exploration program at the New Britannia Gold Mine project.


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 ( and Infrastructure at the New Britannia Gold Mine includes a fully-permitted 2,150 tonne per day modern mill and tailings facility, and associated plant, and equipment.

On Behalf of the Board,

David G. Tafel, CEO & Director

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.

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.

Contact Information