Garson Gold Corp.
TSX VENTURE : GG

Garson Gold Corp.

March 13, 2009 08:00 ET

Garson Gold Enters Into Strategic Alliance With Takara: Appoints New President, Acquires Gold Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2009) - GARSON GOLD CORP. (TSX VENTURE:GG) ("Garson Gold" or "the Company") and Takara Resources Inc. (TSX VENTURE:TKK) ("Takara") are pleased to announce that they have entered into a series of transactions designed to facilitate the business objectives of each of the Companies.

The transactions include a blending of certain members of management and the acquisition of certain of Takara's Canadian gold projects. The intention of combining management groups is to raise the profile and visibility of Garson Gold in the investment community and to facilitate Garson's short-term objective of financing and reactivating the New Britannia Gold Mine, and to aid in facilitating its longer term objectives of identifying, and acquiring additional advanced gold projects.

Management

Ms. Julie Lassonde, will step down as President of Takara Resources, and will join the Garson Gold management team, assuming the role of President. Ms. Lassonde will assist the Company with financing, corporate structuring, increasing marketplace visibility, and project generation. Ms. Lassonde holds an Engineering degree from Queen's University and, over the past 12 years, has held various positions in the financial and engineering fields, including time at SNC-Lavalin, and as an investment banker with Macquarie Bank Ltd in Australia and the U.S.A.

Mr. David Tafel will remain as Garson's Chief Executive Officer and Garson Gold will have the right to appoint a director to the board of Takara.

The management of Garson Gold and Takara shall jointly appoint an Advisory Committee focused on the re-activation of Garson's New Britannia Mine and a Business Development Committee focused on identifying new global gold opportunities.

Acquisition of Gold Projects

Garson shall acquire certain of Takara's Canadian gold projects including Big Bar, Baez, Ospika Projects and five additional prospective geochemical target properties located in the central interior of British Columbia which have potential to host either epithermal gold-silver mineralization and/or sedimentary exhalative Pb-Ag-Zn mineralization (see Takara Press Release dated August 19, 2008), and the Luciana Gold Prospect, located north of Val d'Or, Quebec. Ground geophysical surveys (magnetic and induced polarization) and a prospecting program were completed at Luciana in 2007 and 2008, and as a result of this work, a diamond drill program was carried out by Takara in December, 2008, having a focus on selected IP targets spatially associated with late cross-cutting fault systems (see Takara website at www.takararesources.com - news releases dated December 8, 2008 and December 23, 2008). In excess of $640,000 in expenditures has been spent to date on the properties Garson is acquiring.

In respect of the above transaction, Garson Gold shall issue to Takara 10,000,000 treasury shares valued at $0.05 subject to the receipt of all necessary regulatory consents. The Garson Gold treasury shares shall be voted in a manner supportive of and consistent with the voting preferences of Garson management at any Garson shareholder meeting unless or until Takara distributes these shares to its shareholders. Takara shall issue to Garson Gold 3,000,000 treasury shares valued at $0.03 per share subject to receipt of all necessary regulatory consents.

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 and states the total property resource inventory at 449,000 oz Au (2,605,000 tonnes grading 5.37 g/t) in the measured and indicated categories and 317,000 oz Au (1,886,000 tonnes grading 5.22 g/t) in the inferred category. Infrastructure at the New Britannia Gold Mine includes a fully-permitted 2,150 tonne per day modern mill and tailings facility, an associated plant, and equipment. Garson is nearing completion of its Preliminary Economic Assessment to evaluate rehabilitation of the mill and the ramp for the No 3 Zone, and an updated resource estimate is currently underway and is expected to include the Boundary Zone, a satellite deposit located one kilometre from the Main mine and mill.

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.

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

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