Golden Tag Resources Ltd.
TSX VENTURE : GOG

Golden Tag Resources Ltd.

April 04, 2006 08:30 ET

Golden Tag Closes $1,225,000 Final Tranche for Total Private Placement of $1.725 Million

MONTREAL, QUEBEC--(CCNMatthews - April 4, 2006) - Golden Tag Resources Ltd. (TSX VENTURE:GOG) announces the closing of the final tranche of the non-brokered private placement (the "Placement") announced on December 16, 2005 resulting in proceeds of $1,225,000 being received by the Company. The purpose of the Placement is to fund exploration on the Company's projects and for general corporate purposes. Pursuant to the closing of this final tranche of the Placement, the Company issued an aggregate of 7,494,669 units at a price of $0.15 per unit. Each unit is comprised of one (1) common share of Golden Tag and one (1) common share purchase warrant entitling the subscriber to acquire one (1) common share at a price of $0.20 at anytime before March 31, 2008. Furthermore the units are subject to a four (4) month hold period during which no transactions are permitted. Such a hold period will end on August 1, 2006. The Company also issued 560,000 "flow-through" common shares at a price of $0.18 per share. The shares are subject to a four (4) month hold period during which no transactions are permitted. Such a hold period will end on August 1, 2006.

The closing of this final tranche of the Placement brings the total gross proceeds realized by the Company to $1,725,000 as a result of the issuance of an aggregate of 9,494,669 units and 1,671,110 "flow-through" common shares. A total amount of $67,250 was paid in commission and finders fees, which is equivalent to 3.9% of the total gross proceeds realized.

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

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