Mr. Anthony Zelen reports

GENERATION GOLD ACQUIRES BALTHAZAR PROPERTY

Generation Gold Corp. has acquired the Balthazar property, directly east of the Arlington property in British Columbia.

The Balthazar property is one mineral claim (619.39 hectares) in the Cretaceous Ladybird and Valhalla intrusions of the Okanagan batholith. The property hosts a regional geochemical survey silt sample on the western side that returned over the 97th percentile for molybdenum and over the 78th percentile for gold.

Anthony Zelen, chief executive officer of Generation, stated: "This acquisition represents a natural extension of the Arlington property. The high values of molybdenum and gold represent an underexplored target that samples the centre of the property. The recent logging on the property will enhance our exploration team's abilities to discover the source of these elevated numbers."

The regional geochemical survey government database stores and manages geochemical data collected by the British Columbia Geological Survey, the Geological Survey of Canada and Geoscience B.C. It was compiled from 116 original sources with 65,000 samples and roughly five million determinations analyzed using 18 methods in 18 laboratories. This regional geochemical survey database provides a solution for consistent, standardized and long-term data storage, and for timely data update and regular data release.

Terms of the acquisition

Pursuant to the agreement, the company will acquire 100 per cent of the beneficial interest in the mineral titles comprising the property. In exchange for its acquisition, the company will issue an aggregate of four million common shares in the capital of the company to the vendors.

Option issuance

The company has granted an aggregate of 1.1 million stock options to certain directors, officers and consultants of the company. Each option confers the right to purchase one common share at an exercise price of eight cents per common share until Oct. 3, 2025. All options are fully vested immediately upon grant.

Of the options granted, 650,000 options were granted to directors or officers of the company. The company relied on Section 5.5(a) of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101) as the exemption from the formal valuation requirements of MI 61-101 and Section 5.7(1)(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 in respect of the options granted to the directors and officers of the company, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the options granted to the directors and officers of the company exceeded 25 per cent of the company's market capitalization. The company did not file a material change report at least 21 days prior to the grant of options to ensure the company was able to grant the options in an expedient manner.

Derrick Strickland, PGeo (1000315), a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral projects, has reviewed the scientific information that forms the basis for this news release, and has approved the disclosure herein. Mr. Strickland is not independent of the company as he is a shareholder of Generation.

About Generation Gold Corp.

Generation Gold is a natural resource company engaged in the exploration and development of mineral properties. The company has an option to acquire a 60-per-cent interest in and to the Arlington property located within the Arrow Boundary district of south-central British Columbia.

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