Linear Gold Corp.

Linear Gold Corp.

November 10, 2005 11:59 ET

Linear Gold Announces Normal Course Issuer Bid

HALIFAX, NOVA SCOTIA--(CCNMatthews - Nov. 10, 2005) - Linear Gold Corp. (TSX:LRR) is pleased to announce that Toronto Stock Exchange ("TSX") has accepted the Company's Notice of Intention to Make a Normal Course Issuer Bid. Under the terms of the Normal Course Issuer Bid, Linear may acquire up to 1,050,000 common shares of the Company (the "Shares") between November 14, 2005 and November 13, 2006.

Management is of the opinion that the Shares of Linear do not reflect its strong balance sheet and portfolio of advanced exploration properties. Shares acquired by the Company under the Normal Course Issuer Bid will be cancelled.

All Shares purchased by the Company under the Normal Course Issuer Bid will be effected through the facilities of TSX and will be surrendered by the Company to its transfer agent for cancellation. The Company is limited, pursuant to the policies of TSX on issuer bids, to purchase not more than 425,649 Shares (2% of the Company's 21,282,480 issued and outstanding Shares as of November 9, 2005) during any 30-day period to a maximum of 1,050,000 Shares (approximately 4.9% of Company's 21,282,480 issued and outstanding Shares) during the 12 month period. The price at which the Shares will be purchased pursuant to the Normal Course Issuer Bid by the Company will be the market price of the Shares at the time of acquisition and will be at a price that is not higher than the last independent trade of a board lot of Shares of the Company.

Linear Gold Corp. is actively exploring for gold and base metals in Mexico, and through joint ventures in Canada and the Dominican Republic.

Wade K. Dawe, President

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Linear Gold Corp.
    Terry Christopher
    (902) 422-1421 or Toll Free: 1-866-546-3272
    (902) 491-1281 (FAX)