Oro Gold Resources Ltd.
TSX VENTURE : OGR

Oro Gold Resources Ltd.

April 12, 2006 08:30 ET

Oro Gold Closes $2,520,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 12, 2006) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Oro Gold Resources Ltd. (TSX VENTURE:OGR) today announced the closing of a private placement for gross proceeds of $2,520,000, as announced on March 6 and 24, 2006.

Oro Gold issued 3,500,000 units at a price of $0.72 per unit. Each unit consists of one common share and one-half of one common share purchase warrant, each whole warrant entitling the holder to purchase one additional common share of the Company at a price of $1.00 per share for the first year and $1.25 per share for the second year after the date of issuance.

Haywood Securities Inc. (the "Agent") was engaged as lead agent with respect to the sale of 2,750,000 of the units. The Agent and certain selling agents received a cash commission and non-transferable compensation options exercisable to acquire 275,000 units for a period of 12 months from the date of issuance at a price of $0.80 per unit. Each such unit consists of one common share and one-half of one non-transferable common share purchase warrant, each whole warrant exercisable for one additional common share at a price of $1.00 per share for the first year and $1.25 per share for the second year after the date of issuance.

The securities are subject to a hold period and may not be traded until August 12, 2006 except as permitted by Canadian securities legislation and the TSX Venture Exchange.

The independent directors of Oro Gold approved the participation by five directors and/or officers of Oro Gold in the private placement on the same terms as arm's length investors in the amount of 135,000 units. Shareholdings of insiders in Oro Gold have increased as a result of such participation.

Oro Gold intends to use the net proceeds from the private placement to advance the exploration of its properties located in the Rosario gold-silver historic mine district, in the State of Sinaloa, Mexico, and for working capital purposes.

ON BEHALF OF THE BOARD OF DIRECTORS

Darren Bahrey, President and Director

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

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

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