Mr. Victor Goncalves reports

THREEGOLD INTENDS TO ACQUIRE 19.9% INTEREST IN GOLDEN EAGLE PERU

Threegold Resources Inc. intends to enter into an agreement in order to acquire 19.9 per cent of the shares of Golden Eagle Peru SA in Lima, Peru, with the option to acquire up to 100 per cent of the remaining outstanding shares.

Threegold will acquire 19.9 per cent of the Golden Eagle shares in consideration of 20 million shares of the company, to be issued in two tranches, at a price of five cents, a work commitment of $400,000 (U.S.) over the next six months and an upfront payment of $50,000 (U.S.). A first tranche of five million shares of the company will be issued upon closing of the transaction and upon the work commitment being completed. Threegold shall issue to Golden Eagle the remaining 15 million shares having a total value of $750,000 (U.S.).

To earn the balance of the 80.1 per cent of the Golden Eagle shares, Threegold shall issue, within 18 months from the closing of the transaction, up to $4-million (U.S.) worth of the company's shares at a 25-per-cent discount to the current market at the time.

Victor Goncalves, president and chief executive officer of Threegold Resources, comments: "We are extremely pleased to work toward the acquisition of an initial interest in Golden Eagle Peru as the Buen Futuro property holds a vast potential and, given its advanced stage, can be brought to a development stage much more easily. Threegold plans on hosting an investor conference call on Thursday, Jan. 24, at 3 p.m. ET to provide a more thorough company update."

Golden Eagle is a private company legally holding mining titles of a premium land package located in the Guarayos province in northeastern Bolivia at 280 kilometres north of Santa Cruz de la Sierra and at approximately 18 kilometres east of the community of Ascension de Guarayos. Golden Eagle is engaged in the development of existing gold and copper deposits in the Lower Proterozoic Guarayos greenstone belt within Bolivia's Precambrian Shield. The total land package consists of 17,300 hectares in notably favourable terrain, infrastructure and labour conditions, at the heart of which is the Buen Futuro property which is 1,000 hectares in size.

The Buen Futuro project consists of near-surface gold mineralization and deeper, mineralized volcanogenic massive sulphides (VMS) systems containing gold and copper. The project has a historical resource of 170,000 ounces of gold (4.36 million tonnes grading 1.23 grams per tonne gold with a 0.2-gram-per-tonne cut-off) contained within the first 40 metres from surface of laterite, saprolite and saprock (oxide gold zone). An immediately underlying and 45-metre-thick supergene copper zone contains additional historical resource of 267 million pounds of copper (or 6,537,000 tonnes grading 1.85 per cent Cu with a 0.2-per-cent cut-off). Both oxide gold and supergene copper ore zones are reported to be extractable by open-pit mining operation. No sufficient work has been performed to estimate the underlying primary ore zone.

The resources reported here are provided as historical data based upon an extensive amount of work that has been done on the property to date, including 14,000 metres of combined diamond drilling, reverse-circulation drilling and auger drilling. The resource estimates are presented in a technical report presented to Golden Eagle in September, 2011, by Michael H. Biste, PhD, consulting geologist. The report was originally prepared strictly in accordance with the Securities Act Industry Guide 7 of the United States Securities and Exchange Commission and with the guidance of the Society for Mining, Metallurgy and Exploration Inc.'s "Guide for Reporting Exploration Information, Mineral Resources and Mineral Reserves" dated March 1, 1999. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and the issuer is not treating the historical estimate as current mineral resources or mineral reserves. The company will not be relying on the data until they have been verified. In addition, this transaction is subject to Toronto Stock Exchange approval and further due diligence.

About Bolivia

The strength of the Bolivian mining industry, coupled with its progressive business mentality, allow for a mining scene filled with opportunity. The thriving Bolivian mining industry can be attributed to a strong mining culture and inexpensive operating costs for mining companies, as well as mining-experienced federal and local governments. Hundreds of years of mining and exploration in Bolivia provide a skilled work force in mineral mining. Beyond the traditional mining jurisdictions in the Western Bolivian Highlands as part of the Central Andes hosting most of the known significant metalliferous lode deposits, the Eastern Bolivian Lowlands underlined by the highly underexplored Precambrian Shield and the Chaco-Beni Plains have great undiscovered mineral resource potential and have seen a considerable increase in foreign investment for mineral exploration. The Eastern Lowlands offer an abundance of water, a pre-existing infrastructure, as well as a local and skilled work force.

Alain Berclaz, PGeo, vice-president of exploration for Threegold Resources and a qualified person as defined by National Instrument 43-101, has reviewed the technical content of this press release.

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