Tagish Lake Gold Corp.

Tagish Lake Gold Corp.

July 22, 2005 13:43 ET

Tagish Lake Gold Corp.: Non-Brokered Private Placement Closed

RICHMOND, BRITISH COLUMBIA--(CCNMatthews - July 22, 2005) - Tagish Lake Gold Corp. (TSX VENTURE:TLG) ("the Company") announces that it has received TSX Venture Exchange approval for the $190,000 received from an offshore investor for 1,900,000 units priced at C$0.10 per unit, as announced in the news release of July 14, 2005. The Company has now closed on this portion of the financing. Each unit consists of one common share and a full warrant at $0.15. These funds will be used for underground exploration of the Company's Skukum Creek deposit and for general corporate expenses.

All securities issued in this private placement will be subject to a four month hold period in accordance with TSX Venture Exchange policy and applicable securities laws.

No commissions or finders fees were paid with this placement.

About Tagish Lake Gold Corp.

Tagish Lake Gold Corp. is focused on exploration and development of high grade gold-silver mineral deposits in the Yukon territory of Canada, in particular the Skukum Mineral District (covering 178 km2) that is owned by Tagish. The Skukum Mineral District, located 80 km by road south of Whitehorse, hosts the Skukum Creek gold-silver deposit, and the Goddell Gully and Mt. Skukum gold deposits.

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

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