Mr. Simon Ridgway reports

RADIUS GOLD COMPLETES $1.2 MILLION PRIVATE PLACEMENT FINANCING

Radius Gold Inc. has closed its previously announced non-brokered private placement with the issuance of 10.4 million units at a price of 12 cents per unit, for gross proceeds of $1,248,000. Each unit consists of one common share of the company and one warrant which entitles the holder to purchase one additional common share at a price of 20 cents for a period of one year following the closing of the private placement.

The company has paid finders' fees for a portion of the financing consisting of $23,760 in cash payments and 198,000 warrants which have the same terms as the unit warrants. Securities issued in the placement are subject to a resale restriction until Dec. 28, 2026. The private placement is subject to final approval by the TSX Venture Exchange.

The proceeds of the private placement are intended to be used to finance the company's exploration programs at its Tierra Roja copper project and Jonco silver project in Peru, and for general working capital purposes.

As one of the placees is an insider of the company and therefore deemed to be a related party to the company, the offering constitutes a related party transaction within the meaning of TSX Venture Exchange 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, respectively, as neither the fair market value of any securities issued to nor the consideration paid by such insider exceeds 25 per cent of the company's market capitalization.

About Radius Gold Inc.

Radius Gold is an exploration company focused on the discovery and advancement of high-quality projects in the Americas. The company's strategy is to identify, acquire and advance exploration opportunities with strong discovery potential.

We seek Safe Harbor.