Reunion Gold Corporation
TSX VENTURE : RGD

Reunion Gold Corporation

August 29, 2007 14:08 ET

Reunion Gold Corporation Announces its Financial Results for the 1st Quarter Ended June 30, 2007

LONGUEUIL, QUEBEC--(Marketwire - Aug. 29, 2007) - Reunion Gold Corporation (TSX VENTURE:RGD) (the "Company") announces that its Consolidated Financial Statements and Management's Discussion & Analysis for the 1st quarter ended June 30, 2007 have been filed on SEDAR (www.sedar.com). They are also available through Marketwire's website at http://www.ccnmatthews.com/docs/rgd0829.pdf and on the Company's website at www.reuniongold.com.

At August 27, 2007, the Company had cash and short-term investments of $1.1 million, including $0.1 million invested in Canadian Asset-Backed Commercial Paper and the remainder held in cash. The Company has 40,856,816 common shares issued and outstanding, 17,552,415 warrants outstanding at an exercise price of $1.25 per share, expiring at various dates from December 2008 to January 2009 and 3,570,000 outstanding stock options at an exercise price varying between $0.20 and $2.15 and expiring by March 2012.

The Company is continuing its exploration for gold on the Antino project located in Suriname. The exploration program, which began in June 2006 is focused on various targets, including Maripasula Creek, Upper Antino, T1a and Guanaman and includes mapping, geochemistry, trenching, reverse circulation ("RC") and diamond drilling. There are currently one RC rig and two diamond drills working on the project.

The Company will require additional funds shortly to continue its exploration program on the Antino 1 Project and to assess additional exploration properties. The Company is currently evaluating the various financing options that are available to pursue its programs. However, there can be no assurance that the Company will be successful in securing such financing and in the event that the Company is unable to obtain such financing, it may need to reduce its exploration activities on the Antino project.

The Company is focused on acquiring and exploring projects in the Guiana Shield in South America and is actively looking for new opportunities. Additional information about the Company is available through regular filings and press releases on SEDAR and on the Company's website.

Forward-looking Statements

This news release contains "forward looking statements" including, but not limited to, statements concerning future financial or operating performance of the Company and its project, requirements for additional capital and acquisition of new projects. Forward-looking statements are not historical facts and are subject to a number of known and unknown risks and uncertainties beyond the Company's control. These statements may cause the actual results, levels of activity, performance or achievement of the Company to be materially different from any future results, levels of activity, performance or achievement expressed or implied by these forward looking statements. There can be no assurance that such statements will prove to be accurate.

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

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