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Honey Badger Exploration Inc.

March 07, 2008 16:18 ET

Telkwa Announces Completion of Private Placement


TORONTO, ONTARIO--(Marketwire - March 7, 2008) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICE

Telkwa Gold Corporation (TSX VENTURE:TKW) announces completion of a non-brokered private placement financing of $400,000 comprising the sale of 8,000,000 Units, sold at $0.05 per Unit as announced on January 14, 2008. Each Unit consists of one common share and one common share purchase warrant ("Warrant"). Each whole Warrant entitles the holder to acquire one common share for $0.10 for a period of two years. All securities issued in conjunction with the offering are subject to a hold period which expires four months after closing. Insiders subscribed for 3,100,000 units.

Proceeds of the financing will be used for exploration, property acquisition and general working capital.

Telkwa Gold Corporation's current exploration focus is Nevada where it has three properties and it also has one exploration property located in British Columbia. Telkwa Gold maintains its website www.telkwagold.com with corporate information, reports and images of our exploration projects.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This news release is not for dissemination in the United States or to any United States news service, and does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Telkwa Gold Corp. will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.

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