New Carolin Gold Corp.

TSX VENTURE : LAD


New Carolin Gold Corp.

October 12, 2012 16:16 ET

New Carolin Gold Closes C$307,800 Non-Brokered Private Placement Unit Financing

WHITE ROCK, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2012) -

NOT FOR DISTRIBUTION IN THE UNITED STATES.

New Carolin Gold Corp. (TSX VENTURE:LAD) announces today that, subject to regulatory approval, it has closed a non-brokered private placement of 2,565,000 Units at a price of C$0.12 per Unit for gross proceeds of C$307,800. Each Unit will consist of one Common Share and one-half of one Common Share Purchase Warrant. Each whole Warrant will be exercisable to acquire one additional Common Share of the Company at any time for a 12-month period from the date of issuance, at an exercise price of C$0.16 per share. The Company may pay a finder's fee in respect of certain investors introduced to the Company of up to 8%.

The securities issued under this private placement will be subject to a four-month hold period.

The proceeds from the sale of the Units will be used for general corporate purposes.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior mineral exploration and development company engaged in the acquisition, exploration, evaluation and development of 144 sq kms of contiguous mineral claims, collectively known as the Ladner Gold Project, located along the prospective and under-explored Coquihalla Gold Belt located in southeastern British Columbia, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.

For further Company and technical information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Bruce W. Downing, M.Sc., PGeo., Hon.FEC, President & Chief Executive Officer

We seek Safe Harbor.

Caution concerning forward-looking information

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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 the accuracy of this press release.

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