Linux Gold Corp.
OTC Bulletin Board : LNXGF

Linux Gold Corp.

September 21, 2010 16:00 ET

Linux Gold Corp. Announces Recent Sampling Program Completed on Our Gold Properties in Alaska for 2010

FAIRBANKS, ALASKA--(Marketwire - Sept. 21, 2010) - Linux Gold Corp. (OTCBB:LNXGF) is pleased to announce that Linux Gold has completed a sampling program on the Trout and Coho mining claims and the Company is awaiting assay results for gold. Linux Gold Corp. has interests in several gold properties as follows:

  • Granite Mountain Claims - a volcanic/plutonic complex located on the Seward Peninsula of Alaska that is prospective for base and precious metals. Placer gold has been mined in the creeks that radiate from Granite Mountain.
  • Dime Creek Claims - gold/platinum lode prospect and an historic producer of placer gold and platinum located south of the Granite Mountain claims.
  • 3M and VS Claims - gold prospects located near the eastern perimeter of International Tower Hill's Livengood Gold Project. The Livengood Gold Project has 9.8 million ounces gold indicated.
  • Coho Claims - intrusive hosted gold/copper prospect located 30 miles east of the Pogo Gold Mine in the Goodpaster Mining District, which is Alaska's largest producing goldmine, owned by Sumitomo Metal Mining.
  • Trout Claims - intrusive hosted gold prospect located within the Tintina Gold Province and 30 miles east of International Tower Hill's Livengood gold property.

The Company is planning on filing the required assessment to maintain the 50% Fish Creek claims, adjacent to the Gil joint venture claims, 50% optioned by Teryl Resources Corp. The Fish Creek claims are near Kinross Gold Corp.'s Fort Knox Producing Mine in Alaska.

John Robertson, President of Linux Gold Corp., states, "Linux Gold is well-positioned with the high price of gold and our properties near large gold mine deposits."

ABOUT LINUX GOLD CORP.

Linux Gold Corp. is involved in the exploration of mineral properties and is currently expanding our portfolio of gold prospects. Our current plans are to joint venture and explore our gold properties in Alaska. Linux Gold Corporation currently owns 33 mining claims near Granite Mountain and 12 claims on Dime Creek, both located in the eastern Seward Peninsula of Alaska. Linux Gold Corporation owns a 50% interest in the Fish Creek Prospect (~1,000 acres), located in the Fairbanks Mining District of Alaska and has optioned a 50% interest in the Fish Creek claims to Teryl Resources Corp. (TRC-V). Linux is retaining a 5% net smelter return or may convert into a 25% working interest. Linux also has three claim blocks in the Livengood Quadrangle of Alaska, two blocks (13 claims) near the eastern perimeter of International Tower Hill's Livengood Gold Prospect (Symbol: ITH) and a third block (34 claims) located 30 miles to the west of the ITH property. The final property in the portfolio is the Coho Prospect (10 claims) located 30 miles east of the Pogo Mine. For more information please visit www.linuxgoldcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

John Robertson, President

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated; the accuracy of reserve and resource estimates, if any, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; changes in laws, rules and regulations applicable to Linux, and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com, and the Company's 20-F annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom.

Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

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