Staccato Gold Resources Ltd.

Staccato Gold Resources Ltd.

August 27, 2007 15:43 ET

Staccato Gold Closes Private Placement for $5.2 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2007) - Staccato Gold Resources Ltd. (TSX VENTURE:CAT) has closed its non-brokered private placement financing announced on July 4, 2007. A total of $5,200,000 was raised through the sale of 14,857,143 units. The First tranche of 9,000,000 units is subject to a hold period expiring December 10, 2007 and the Second tranche of 5,857,143 units is subject to a hold period expiring December 17, 2007. Each $0.35 unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share for a period of two years at $0.50. Commissions of $364,000 and 891,429 warrants having the same terms as the placee warrants have been paid in connection with this placement.

The proceeds shall be used for exploration and development at Staccato's gold projects in Nevada and for general corporate purposes. The Company is attempting to secure rigs for several of its exploration properties in Nevada.

Combined with the financing announced on July 18, 2007 for gross proceeds of $10.3 million, the Company now has approximately $14 million in cash and Bank of Nova Scotia Discount bonds on hand. The Company has no exposure to asset backed commercial paper.

On behalf of the Board of Directors


Greg Hryhorchuk, Vice-President & CFO

About Staccato Gold Resources Ltd.: Staccato Gold is a junior gold exploration company with resources and advanced exploration assets exclusively in Nevada. The Company has assembled a portfolio of five gold prospects in the dominant gold trends in Nevada and has a joint venture agreement in place on its ICBM property in the Cortez Trend with Barrick.

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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

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