Threegold completes $162,000 private placement

Threegold Resources Inc., an innovative mineral exploration company focused on the exploration for gold and base metals in the Province of Quebec, has closed its previously-announced private placement for gross proceeds of $162,000.

The company has issued an aggregate of 648,000 units at a price of $0.25 per unit to investors resident in the provinces of Quebec and Ontario. E

ach unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of Threegold at a price of $0.35 per share for a period of twelve months, and at a price of $0.45 for a period of twelve months thereafter.

Under applicable securities legislation and the policies of the TSX Venture Exchange, the common shares and warrants issued pursuant to the private placement are subject to a hold period expiring on November 10, 2008.

The company is likely to use the raised funds for general corporate purposes as well as for exploration work on the company’s existing mining exploration properties located in the Province of Quebec.

Threegold’s common shares are listed on the TSX Venture Exchange under the symbol “THG”.