Randsburg International Gold Corp.
TSX VENTURE : RGZ

May 24, 2011 14:47 ET

Randsburg Announces Non-Brokered Private Placement Financing

TORONTO, ONTARIO--(Marketwire - May 24, 2011) -

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Randsburg International Gold Corporation (TSX VENTURE:RGZ) announced today that it has closed a non-brokered private placement of $220,000 of its securities consisting of the sale of 4,400,000 Units at $0.05 per Unit. Each Unit consists of 1 common share and 1 non-transferable share purchase warrant. Each share purchase warrant grants the right to purchase one common share at an exercise price of $0.10 per share for a period of one (1) year from the closing date. Proceeds of the financing will be used for the advancement of the Corporation's mineral properties located in northern Ontario, Canada and for general working capital.

The Corporation will pay a finder's fee of 50,000 broker warrants to an agent. Each broker warrant grants the right to purchase one common share at an exercise price of $0.10 per share for a period of one (1) year from the closing date. All securities issued in respect of the warrants will be subject to a hold period of 4 months and 1 day from this date which is the date of closing. Closing of the private placement is subject to approval by the TSX Venture Exchange.

Pursuant to its stock option plan, the Company has agreed to grant a total of 1,150,000 incentive stock options (the "Stock Options") to officers, directors and consultants of the Corporation. Each Stock Option entitles the holder thereof to acquire one common share of the Corporation at an exercise price of $0.10 per common share within 2 years of the date of grant. The grant of the Stock Options is subject to all required regulatory approval.

On behalf of the Board of Directors of Randsburg International Gold Corp.

"Michael Opara"

Copyright, 2011 - Randsburg International Gold Corporation. This news release can be reproduced and retransmitted in whole, with no changes permitted of any kind, including headlines, or the addition of any headlines or other material, and providing it is supplied and made available without charge to the end reader.

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

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