Range Gold Corp.

March 31, 2009 17:59 ET

Range Gold Corp. Announces Update to Private Placement and Corporate Plans

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2009) - Range Gold Corp. ("Range Gold" or the "Company") (CNSX:RGU) is pleased to announce that further to its news release dated February 19, 2009, the Company has completed a non-brokered private placement of 2,500,000 units at a per unit price of $0.05, for gross proceeds of $Cdn 125,000. Each unit comprises one common share and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional common share in the capital of the Company at $0.15 per share on or before March 31, 2011. Proceeds will be used to advance projects and general working capital.

All securities issued in connection with this financing are subject to a hold period until August 1, 2009. A finder's fee $Cdn 4,000 cash and 8,000 units was paid to an arm's length party in connection with this financing.

The Company also announces it will not be proceeding with the acquisition of the assets of Vida Nutra Pharma, a private Quebec-based specialty pharmaceutical company (see news release dated January 27, 2009). The parties have agreed not to proceed with the proposed transaction due to current market conditions.

The Company announces that it has formed a wholly owned subsidiary "Mackenzie Timber Group Inc.". This company will be dedicated to acquisition and redevelopment of strategic undervalued forestry assets. The move is in response to the opportunities that are being presented in the forestry industry due to the current global economic downturn.


Don Sheldon, President

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Range believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Range's management on the date the statements are made. Range undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

The CNSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

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