TintinaGold Resources Inc.

TintinaGold Resources Inc.

March 28, 2011 12:13 ET

TintinaGold Completes $35.75 Million Private Placement; Provides Update on Warrant Exercises

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 28, 2011) -


TintinaGold Resources Inc. (TSX VENTURE:TAU) ("TintinaGold" or the "Company") announces that it has completed the $35.75 million private placement previously announced in the Company's February 10, 2011 news release.

As announced by the Company on March 22, 2010, the Company previously completed the second and final tranche of the private placement with two subscribers, Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC, and Electrum Strategic Metals II LLC. The Company has now completed the issuance of the remaining 393,701 common shares to the third and final subscriber, which shares are subject to a hold period and may not be traded until July 25, 2011.

The Company is also pleased to announce that it received $845,734 from the exercise of 1,715,831 warrants exercisable at a price of $0.4929 from January 7, 2011 to date. The Company intends to use the proceeds primarily for general working capital and other corporate purposes.

About TintinaGold

TintinaGold is a growth company focused on the exploration and development of precious and base metal properties around the world. The Company's experienced Board of Directors and Management Team, having completed the verification drilling on the Sheep Creek copper-cobalt massive sulfide property in Montana, U.S.A., are focused on additional exploration drilling and advancing the project towards production. The Company is also exploring an impressive portfolio of gold and base metal projects in Alaska, including the Colorado Creek gold project located in southwest Alaska in the same region as the 40 million ounce Donlin Creek project.

The growth and success of the Company comes from TintinaGold's experienced exploration team and its ability to forge collaborative relationships and partnerships with Native Alaskan and First Nations groups, local communities, major mining companies and regulators.

About Sheep Creek

The Sheep Creek deposit is located about 27 km north of White Sulphur Springs along a well maintained gravel road and within two miles of U.S. Highway 89. The Sheep Creek property consists of approximately 5,775 acres of fee simple lands and mining claims in central Montana. The property contains sediment-hosted zones of massive sulfide mineralization originally explored by Cominco American Inc. and BHP during the 1980's and early 1990's. Historical drilling encountered significant zones of strata-bound copper sulfide with cobalt in multiple bedded pyrite zones in the lower part of the Precambrian Belt Supergroup; this same stratigraphic unit hosts the Sullivan zinc-lead-silver deposit in southeastern B.C. The Company, in a remarkably short period of time, has been able to produce an Inferred Resource on the Upper Copper Zone (please see the Company's Press Release dated January 6, 2011).

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.


Louis A. Lepry, Jr., President & CEO

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 release.

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