Taku Gold Corp.

Taku Gold Corp.

November 12, 2010 11:16 ET

Taku Gold Corp. Proposes Private Placement for Up to $5,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2010) -


Taku Gold Corp. (the "Company") (TSX VENTURE:TAK) is pleased to announce that it has entered into an agreement in connection with a private placement offering of up to 4,762,000 flow through units ("FT Unit") at a price of $0.42 per FT Unit and up to 7,895,000 units ("Units") at a price of $0.38 per Unit for aggregate gross proceeds of up to $5,000,000 (the "Offering"). Each FT Unit shall consist of one common share and one-half of one common share purchase warrant ("Warrant"). Each Unit shall be comprised of one common share and one Warrant. Each whole Warrant shall entitle the holder thereof to acquire one common share of the Company at a price of $0.65 for a period of 24 months following the closing of the Offering.

A syndicate of agents, co-led by Fraser Mackenzie Limited and Union Securities Ltd., have agreed to act on a best efforts agency basis with respect to the Offering.

The proceeds from the sale of the FT Units will be used for exploration for Taku's properties and the proceeds from the sale of the Units will be used for general working capital purposes.

The Offering is scheduled to close on or about December 10, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

Any securities to be issued will be subject to a hold period of four months from the closing date in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.

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.

Forward Looking Statement:

Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above and in the corporation's periodic filings with the British Columbia Securities Commission. Specifically, completion of the private placement of up to $5,000,000 is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. There can be no assurance that the private placement will be completed as proposed or at all. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation 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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