Mr. Martin Dallaire reports

VISIBLE GOLD MINES ANNOUNCES CLOSING OF $313,088 PRIVATE PLACEMENT

Visible Gold Mines Inc. has completed a private placement by issuing 5,692,500 flow-through units at a price of 5.5 cents per unit, for gross proceeds to Visible Gold Mines of $313,088. Each of the units comprises one flow-through common share and one-half of a common share purchase warrant. Each full warrant will entitle the holder to acquire one additional common share of Visible Gold Mines at a price of 10 cents until June 1, 2017.

Visible Gold Mines will use the proceeds from the private placement for exploration on certain of its properties in Quebec.

In connection with the private placement, Visible Gold Mines paid a finder's fee to Industrial Alliance Securities Inc. in an amount of $25,047, representing 8 per cent of the gross proceeds raised in the private placement, and issued to Industrial Alliance Securities 455,400 broker warrants in connection with the sale of the flow-through units. Each broker warrant entitles Industrial Alliance Securities to acquire one common share of Visible Gold Mines at a price of 10 cents until June 1, 2017.

As a result of the private placement, there are 100,419,178 common shares of Visible Gold Mines issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on April 2, 2016.