Taku Gold Corp.

Taku Gold Corp.

October 06, 2010 08:00 ET

Taku Acquires the Portland Property, White Gold Area of Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - Taku Gold Corp. (the "Company") (TSX VENTURE:TAK) is pleased to announce that it has entered into an agreement to acquire the 32-claim (886ha) Portland property located approximately 45km southeast of Dawson City in the White Gold district of Yukon. Under the terms of the agreement Taku has the option to earn a 100% interest in the Portland property for total consideration of $40,000 cash, 400,000 treasury shares and $200,000 in exploration work scheduled over a three-year period subject to a 2% net smelter returns royalty. Taku will have the right to buy back the first 1% of the royalty for $1-million cash and will have the right of first refusal on the remaining 1%. The agreement is subject to approval by regulatory authorities in compliance with applicable securities legislation.

The Portland property covers an historical showing known as the "Gold Run" (Yukon Minefile No. 115O 063) which was discovered and worked between 1910 and 1924 with about 30m of shafting, 23m of adits and extensive hand trenching. This work was done along several hundred metres of a poorly exposed sulphide-bearing quartz- breccia vein found on the ridge crest and trending northwest into the headwaters of Portland Creek. MacLean (1914, p. 83-84) reported that three samples of quartz were taken from this structure. One of them from an outcrop and two from a hand trench, all panned colours of gold. The two latter samples assayed 1.8 opt Au and 5.7 opt Au respectively.

A review of assessment reports for work done in the area the property in 1984, 1989, 1993 and 1997 reveal that there was some confusion as to the exact location of the Gold Run showing. The property vendor, Franz Vidmar, found the old workings in 2009 and successfully traced the quartz-breccia structure over a strike length of 300m. In 2010, Mr. Vidmar continued exploration on the property with a Yukon Mineral Incentives Program grant. Taku is currently extending Mr. Vidmar's work with additional deep auger-type soil sampling and re-sampling of the old workings to be followed by mechanical trenching.

"This acquisition is in line with our strategy of building strong working relationships with Dawson City-based prospectors" comments Zak Dingsdale, President.

Mark Fekete, PGeo, is the designated qualified person as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the preparation of this release.

On Behalf of the Board,

Taku Gold Corp.

Zachery Dingsdale, President and CEO

About Taku Gold Corp.

Taku Gold Corp. (http://www.takugold.com) is a mineral resource company focused on the exploration and development of precious metal properties in Canada with a particular emphasis on the White Gold District of the Yukon Territory and the Tagish Lake region of Northern British Columbia.

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Statements in this release that are forward-looking are subject to various risks and uncertainties as identified above and in the Company's periodic filings with the British Columbia Securities Commission and the U.S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

Neither the 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 news release.

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