| Mon Mar 8, 2010 Proposed Private Placement | |
| Golden Reign Resources Ltd. (the "Company" or "Golden Reign")(TSX-V: GRR), subject to regulatory approval, proposes to issue up to 5,000,000 units at a price of $0.20 per unit via a non-brokered private placement to raise gross proceeds of up to $1,000,000. Each unit will be comprised of one common share and one half of one share purchase warrant. Each whole share purchase warrant will entitle the holder thereof to purchase an additional common share at a price of $0.25 for a period of two years. Proceeds of the placement will be applied to costs related to the San Albino-Murra Gold Property in Nicaragua and for general working capital. On behalf of the Board, "Kim Evans" Kim Evans, CGA Director & CFO For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com. Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. | |
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