Mr. Al Kroontje reports

SAN LORENZO GOLD ANNOUNCES PROPOSED PRIVATE PLACEMENT

San Lorenzo Gold Corp. intends to complete a non-brokered private placement of units for gross proceeds of up to $15-million.

The offering, to be completed on a best effort basis, will involve the issuance of units. Each unit will be priced at $2.51 and will consist of one common share of the corporation and one-half of a common share purchase warrant. Each full warrant will entitle the holder to acquire an additional common share at a price of $3.50 for a period of one year from the date of closing.

San Lorenzo may pay a cash commission or finder's fee to qualified non-related parties of up to 6 per cent of the gross proceeds of the offering payable together with warrants representing 6 per cent of the common shares issued in connection with the offering. Each broker warrant will entitle the holder to purchase one additional common share of the company at a price of $2.51 for a period of 12 months following closing of the offering.

The proceeds of the offering will be used to continue exploration efforts on San Lorenzo's flagship Salvadora property, as well as for general working capital purposes, including the expenses of the offering.

The common shares, warrants and broker warrants issued pursuant to the offering will be subject to a four-month-and-one-day hold period. The offering remains subject to the approval of the TSX Venture Exchange.

About San Lorenzo Gold Corp.

San Lorenzo is focused on advancing its flagship Salvadora property located in Chile's megaporphyry belt. Results obtained from prior drilling programs conducted on four different targets have convinced management that several significant gold and copper enriched epithermal and porphyry style systems are contained within the Salvadora property.

We seek Safe Harbor.