Integra Gold Corp.

Integra Gold Corp.

December 23, 2010 18:50 ET

Integra Gold Corp. Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 23, 2010) - Integra Gold Corp. (TSX VENTURE:ICG) (the "Company") is pleased to announce a non-brokered private placement to raise between $1.575 million and $1.75 million through the issuance of up to 3.5 million units of the Company at a price of $0.45 per non-flow through unit and $0.50 per flow through unit. The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the units for any reason.

Each of the non-flow through units will consist of one non-flow through common share and one half of one non-flow through share purchase warrant. Each of the flow through units will consist of one flow through common share and one half of one non-flow through share purchase warrant. Each full purchase warrant entitles the holder to purchase one additional common share for two years at a price of $0.75 per share in the first year and $1.00 per share in the second year.

The private placement and any modifications to it are subject to compliance with applicable securities laws and to receipt of the approval of the TSX Venture Exchange. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.

Proceeds of the placement will be used to resume diamond drilling in the Triangle Zone and other areas of the Lamaque gold property accessible during the months of January and February. The Company 2011 exploration program planning is comprehensive and multi-faceted as it prepares for the planned release in early March of a NI 43-101 compliant resource report and recommendations. The 8000 meter diamond drill program announced previously is nearing completion with assays expected in early January.


The Lamaque property is in the Val d'Or Gold Camp immediately adjacent to both the Sigma and Lamaque mines, which together have produced approximately 9 million ounces of gold. The current inferred gold resource at Lamaque property is 375,375 gold ounces (1,238,308 tonne at 9.43 g/t gold) according to Watts, Griffis and McOuat 43-101 report. (Sedar October 20, 2004). The current gold mineralized vein-system, indicated through drilling, is speared over an area that is 4,000m in strike length, 2900m wide and open at depth.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 news release.

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