Mr. Andy Rendle reports

COSIGO RESOURCES ANNOUNCES PRIVATE PLACEMENT AND ASSEMBLES A PULVERIZATION MILL AND CAMP LEVEL METALLURGICAL GRAVITY LAB

Cosigo Resources Ltd. has arranged a private placement of up to $1-million. The private placement will consist of units priced at eight cents, with a full warrant priced at 15 cents. Each warrant will entitle the holder to purchase an additional common share at a price of 15 cents for a period of 60 months from the date of closing of the private placement.

The private placement is being offered on a non-brokered basis and all securities will be subject to a statutory hold period of four months and a day from the closing date of the offering pursuant to securities laws in Canada and, where applicable, the TSX Venture Exchange hold period. The company may pay a finder's fee on a portion of the gross proceeds of the private placement. The private placement is subject to the approval of the TSX Venture Exchange.

The private placement will include participation by insiders of the company. The participation in the placement by insiders constitutes a related party transaction (as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions). The company relies upon the "Issuer Not Listed on Specified Markets" and "Fair Market Value Not More Than $2.5-million" exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

The company intends to use the net proceeds of the offering to conduct the next level of prospecting, mapping and sampling on the company's Taraira property and the Willow Creek Nevada property, and for general working capital.

Cosigo assembles equipment for on-site prospection level testing.

Cosigo's on-site sample pulverization mill and camp level metallurgical gravity laboratory are near completion. The material from the next drill campaign will first go through a small, motorized sluice channel system designed in Oregon to extract and recover larger gold nuggets, should there be any. Subsequently, the material will be sent through a ball mill designed in Canada and built in Colombia to handle small to medium-sized samples. After crushing/pulverization in the ball mill, the material will, via a venturi water system, transfer into a Falcon-type 220-volt-powered Canadian-designed enhanced gravity centrifuge system. As the Falcon-type concentrator is industrial size and handles larger samples, Cosigo also recently acquired a smaller more detailed flotation/gravity device, designed and built in Oregon, to recover and attempt to quantify any free gold particles down to approximately 10 microns size. The heavy mineral concentrate, with gold particles where recovered, will leave the material stream and go to the geologists' lab where a digital microscope and gram scales will be used for the final tally. Cosigo now owns 100 per cent of all these capital assets and 90 per cent of the equipment is on site or within country. The company expects to have a complete working mill and camp level laboratory by Jan. 15.

As the costs of international laboratories keeps rising, having this backup on site to process sample quarters or splits to extinction helps identify and prioritize gold-bearing drill core and reverse circulation chip intervals for further shipping to the company's standard laboratories, such as SGS, ALS or Chrysos, out of country. It also helps prioritize drill targeting with near real-time on-site results while the international laboratories process the remaining material.

Erik Ostensoe, PGeo, a geological consultant to the company and a qualified person as defined by National Instrument 43-101, has reviewed and approves the scientific and technical disclosure in this news release.

About Cosigo Resources Ltd.

Cosigo Resources is a junior exploration company trading on the TSX Venture Exchange. The company is focused on exploring and developing the gold potential of its properties in the Taraira district in southeast Colombia near the border of Brazil. The company also holds a 100-per-cent interest in the Willow Creek property, located in the northern sierras of Nevada near Winnemucca, and a 100-per-cent interest in the Damian property in the Cordillera region of Colombia, and owns 13.26 per cent of DHK Diamonds Inc., a company exploring for diamonds in the DO27 region of the Northwest Territories of Canada.

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