Mr. Tom Kennedy reports

BLUE GOLD CLOSES THIRD FINAL TRANCHE FINANCING

Further to the news release of April 19, 2013, Blue Gold Water Technologies Ltd. (formerly Golden Cross Resources Inc.) has completed the third and final tranche of a non-brokered private placement of 446,429 units at 28 cents (postconsolidated) per unit, raising a total of $125,000. Each unit consists of one common share and one-half of one transferable common share purchase warrant, with each whole warrant entitling the holder thereof to acquire one additional common share at a price of 38 cents per share (postconsolidated) for a period of two years from closing of the offering. The securities are subject to a four-month hold period as required under applicable securities laws. The company intends to use the proceeds in connection with the completion of the proposed acquisition of all of the assets of the waste water remediation business of Blue Gold Tailing Technologies Ltd. and as working capital following the completion of the acquisition.