Garson Gold Corp.

Garson Gold Corp.

March 18, 2009 18:15 ET

Garson Gold Increases Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2009) - Garson Gold Corp. (TSX VENTURE:GG) ("Garson Gold" or "the Company") is pleased to announce that the non-brokered private placement of up to 10,000,000 units for gross proceeds of up to $500,000 announced on February 19, 2009 (first tranche closing of $442,000 announced March 5, 2009) has been over-subscribed and the Company has increased the offering up to $585,000, subject to the approval of the TSX Venture Exchange. Each Unit will consist of one common share and one share purchase warrant. Each whole warrant will be exercisable for one common share at $0.10 for a period of two years from closing. All securities issued will be subject to a four-month hold period. Finders' fees will be payable on the sale of the Units.

Proceeds from this financing will be used to complete a Preliminary Economic Assessment on the New Britannia Gold Mine project and for general working capital purposes.


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 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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