Renaissance Gold Inc.
TSX VENTURE : REN

Renaissance Gold Inc.

February 03, 2011 14:16 ET

Renaissance Gold Plans Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2011) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Renaissance Gold Inc. ("RenGold" or the "Company") (TSX VENTURE:REN) is pleased to announce that it proposes to raise up to $7.7 million by way of a non-brokered private placement through the issuance of up to 5.13 million units at a price of $1.50 per unit (the "Unit"). The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the Units for any reason. Each Unit will consist of one common share and one-half of one common share purchase warrant (the "Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share of the Company at a price of $2.00 for a period of one year from closing the private placement. The private placement and any modifications to it are subject to compliance with applicable securities laws and to receipt of regulatory approval. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.

The proceeds of the financing will be used to fund the Company's work programs in the United States and Argentina and for general corporate purposes.

About Renaissance Gold Inc.

Renaissance Gold is a gold/silver exploration company that has a large portfolio of exploration projects in Nevada, Utah, Argentina and Spain. The majority of the projects are in exploration earn-in agreements with industry partners who provide exploration funding. Renaissance Gold applies the extensive exploration experience and high-end technical skills of its founders to search for and acquire new precious metal exploration projects that are then offered for joint venture.

Renaissance Gold Inc.

Ronald L. Parratt, President and CEO

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 Renaissance Gold 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 Renaissance Gold's management on the date the statements are made. Except as required by law, Renaissance Gold undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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 accuracy of this news release.

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