Roxgold Inc.

Roxgold Inc.

May 10, 2011 16:53 ET

Roxgold Inc. Completes $7.5 Million Bought Deal Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2011) - Roxgold Inc. (TSX VENTURE:ROG) (the "Company") is pleased to announce that it has closed its brokered private placement previously announced on April 12, 2011 with a syndicate of underwriters led by Cormark Securities Inc. and including Fraser Mackenzie Limited, GMP Securities L.P., PI Financial Corp., Pope & Company Limited and Toll Cross Securities Inc. (collectively, the "Underwriters"). The Company has raised $7,500,000 through the issuance of 10,000,000 units (the "Units") at a price of $0.75 per Unit. Each Unit consists of one common share (each a "Common Share") and one-half of one share purchase warrant of the Company (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional Common Share at a price of $1.00 per Common Share at any time prior to May 10, 2013. The Warrants will be transferable.

The Underwriters received a cash commission of $525,000 and 700,000 broker warrants,each broker warrant entitling them to acquire one Common Share at a price of $0.75 per Common Share until May 10, 2013. All securities issued pursuant to this financing are subject to a four month hold period expiring September 10, 2011. The directors and senior officers of the Company have signed agreements not to sell any shares during this period.

The net proceeds of the offering will be used for continued exploration of the Company's Burkina Faso joint venture properties and for general working capital purposes.


Robert Sibthorpe, President

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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