Gold Standard Ventures Corp. Closes C$11,950,000 Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2011) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Gold Standard Ventures Corp. ("Gold Standard" or the "Company") (TSX VENTURE:GV)(OTCQX:GDVXF) is pleased to announce that is has closed its non-brokered private placement previously announced on February 24, 2011 of C$11,950,000 through the sale of 12,578,947 common shares at C$0.95 per share. The placement price represents a 9.4% premium to Gold Standard's 20-day VWAP as of the announcement date.

FCMI Parent Co. ("FCMI") has subscribed for 11,000,000 common shares of the placement. FCMI is a private corporation based in Toronto and controlled by Albert D. Friedberg and members of his family. FCMI is now the Company's largest shareholder, owning 19.7% of the Company. 

FCMI will have the right to appoint one nominee to Gold Standard's Board of Directors and to participate, on a pro rata basis, in future equity financings of the Company for up to two years.

The net proceeds of the financing will be used to fund the advancement of Gold Standard's flagship Railroad Gold project in the southern Carlin Trend, additional exploration activities at its other projects in Nevada, and for general corporate purposes. 

"We believe that FCMI's strategic alliance with Gold Standard recognizes the tremendous value of the Company's key asset – the flagship Railroad Gold Project located on the Carlin Trend, Nevada. This investment substantially strengthens Gold Standard's balance sheet and provides funding for the Company's on-going commitments to advance our key projects," said Jonathan Awde, President and CEO of Gold Standard.

A financial advisory fee of C$836,500 cash and warrants to purchase up to 880,526 common shares of the Company at a price of C$0.95 per share for a period of 24 months was paid to Dahlman Rose & Company, LLC in connection with the closing. All common shares issued pursuant to this private placement are subject to a four month and one day hold period expiring on July 4, 2011.

ABOUT GOLD STANDARD VENTURES – Gold Standard Ventures is focused on the acquisition and exploration of gold projects in North Central Nevada. Gold Standard currently holds a portfolio of projects totaling approximately 26,000 acres of prospective ground within North Central Nevada of which 15,349 acres comprise the flagship Railroad Gold Project.

On behalf of the Board of Directors of Gold Standard,

Jonathan Awde, President, CEO and Director

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.