SOURCE: Ranger Gold Corp.

May 07, 2010 09:30 ET

Ranger Gold Corp. Announces Completion of Financing

CARSON CITY, NV--(Marketwire - May 7, 2010) -  Ranger Gold Corp. (OTCBB: RNGC) -- Ranger Gold Corp. (the "Company" or "Ranger") is pleased to announce it has closed a non-brokered private placement for gross proceeds of $500,000. The financing consists of 400,000 common shares at a price of $1.25 per share.

"We are very pleased to have completed this financing at very favorable terms and now have the funding in-place to undertake drill programs on both the CX and Truman properties," says Gary Basrai, President of Ranger, "This is a critical development that will allow us to complete our strategic plan for 2010."

Currently Ranger is exploring two properties in Nevada, the CX Property and the Truman Property. 

The CX Property consists of 72 unpatented mineral claims covering six epithermal gold-silver targets within a caldera margin that hosts at least two other major gold-silver mines with combined production and reserves of several million ounces.

The Truman Property consists of 52 unpatented mineral claims and covers eight epithermal gold-silver targets near the center of the prolific Walker Lane trend.

Ranger has the right to earn a 100% interest in both properties by making certain annual option payments and by accruing minimum exploration expenditures.

"We believe the potential for both of our properties is significant, and are looking forward to initiating our drill programs," says Gary Basrai, president of the company.

About Ranger Gold Corp.

Ranger Gold Corp. (OTCBB: RNGC) is a US-based resource exploration company exploring for gold in proven gold regions of Nevada. It is focused on discovering and developing low-cost gold assets in order to provide maximum return for its shareholders.

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at http://www.sec.gov.

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