Reunion Gold Corporation

Reunion Gold Corporation

June 17, 2009 14:08 ET

Reunion Gold Corporation Announces its Financial Results for the Year Ended March 31, 2009 and Write-Down of Exploration Expenses

LONGUEUIL, QUEBEC--(Marketwire - June 17, 2009) - Reunion Gold Corporation (TSX VENTURE:RGD) (the "Company") announces that its audited Consolidated Financial Statements and Management's Discussion & Analysis for the year ended March 31, 2009 have been filed on SEDAR ( They are also available on the Company's website at

For the year ended March 31, 2009, the Company incurred a loss of $14,352,022 ($0.30 per share) compared to a loss of $1,099,715 ($0.06 per share) in 2008. The loss in 2009 includes the following non-cash items: $10,830,164 as Write-down of deferred exploration expenses related to the Antino 1 Project and $2,289,984 as a loss on sale of marketable securities.

Due to limited financial resources, exploration activities at the Company's projects were halted in October 2008 and these projects have since been on care and maintenance. Following a thorough analysis of the data collected in relation to the Antino 1 Project, the Company has decided, due to disappointing exploration results, to write-down to nil during the 4th quarter of 2009, accumulated costs incurred on the Antino 1 Project, resulting in a charge to operations of $10,830,164. Also, following the sale of the remaining shares held in X-Cal Resources Ltd., the Company charged to operations an amount of $2,289,984 as loss on sale of marketable securities.

Additional information about the Company is available through regular filings and press releases on SEDAR and on the Company's website.

Neither 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 release.

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