Mr. Joseph Ovsenek reports

TUDOR GOLD ANNOUNCES CLOSING OF $11.5 MILLION BROKERED LIFE OFFERING, WITH PARTICIPATION BY ERIC SPROTT

Tudor Gold Corp. has closed its previously announced brokered, best efforts private placement offering of 14,375,000 units of the company at a price of 80 cents per unit for aggregate gross proceeds of $11.5-million, including the full exercise of the overallotment option. The offering was led by Research Capital Corp., as the lead agent and sole bookrunner, and Roth Canada Inc.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share at an exercise price of $1.20 per common share for a period of 24 months following the closing of the offering.

The offering was completed by way of the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions. The units offered under the listed issuer financing exemption will be immediately free trading upon closing of the offering under applicable Canadian securities laws.

The net proceeds from the offering will be used for working capital and general corporate purposes.

A related party of the company acquired 2.5 million common shares and 1.25 million warrants pursuant to the offering. The issuance of such securities to this related party is considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and Policy 5.9) as the fair market value of the securities issued to such party does not exceed 25 per cent of the company's market capitalization. The company did not file a material change report in respect of the related party transaction at least 21 days prior to the closing of the offering, which the company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner.

In connection with the offering, the company paid to the agents a cash commission of approximately $690,000 and issued to the agents 750,000 non-transferable broker warrants. Each broker warrant entitles the holder thereof to purchase one common share at an exercise price of $1.20 per common share for a period of 24 months from the date of issuance.

The offering is subject to the final approval of the TSX Venture Exchange.

About Tudor Gold Corp.

Tudor Gold is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913-hectare Treaty Creek project (in which Tudor Gold has an 80-per-cent interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corp.'s Brucejack mine property to the southeast.

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