Mr. Bruce Smith reports

RADIUS GOLD COMPLETES $1.95 MILLION PRIVATE PLACEMENT FINANCING

Radius Gold Inc. has closed its previously announced non-brokered private placement with the issuance of 11,149,983 units at a price of 17.5 cents per unit for gross proceeds of $1,951,247. Each unit consists of one common share of the company and one warrant entitling the holder to purchase one common share at a price of 35 cents for a period of 24 months following the closing of the private placement.

In connection with the placement, the company paid finders' fees totalling $39,627 in cash and issued a total of 226,442 warrants with the same terms as the unit warrants. The net proceeds of the private placement are intended to be used to finance drilling and exploration efforts on Radius's Tropico project, Mexico, and for general working capital.

The common shares and warrants issued on closing are subject to a regulatory resale restriction until Sept. 30, 2023. The placement is subject to the final approval of the TSX Venture Exchange.

As certain of the placees are deemed to be related parties to the company, the private placement constitutes a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101.

About Radius Gold Inc.

Radius has a portfolio of projects located in Mexico, the United States and Guatemala that it continues to advance, utilizing partnerships, where appropriate, in order to retain the company's treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe.

We seek Safe Harbor.