Mr. Robert Archer reports

NEWRANGE GOLD WELCOMES STRATEGIC INVESTOR, APPOINTS NEW BOARD MEMBER AND CLOSES FIRST TRANCHE OF FINANCING

Newrange Gold Corp. is welcoming Orimco Resource Investment Advisors as a strategic investor. Orimco is based in Perth, Australia, and is an investment advisory firm providing services to companies, wholesale investors and financiers focused on the global mining industry. It is respected within the global mining industry, and has very strong mining technical, financial and commercial skills with which to help build successful mining businesses.

Colin Jones, principal consultant for Orimco, has joined the company's board of directors. Mr. Jones has almost 40 years of experience as a mining, exploration and consulting geologist in a number of different geological environments, and has worked on all continents on producing mines, as part of feasibility teams and as an explorationist. He has managed large exploration and due diligence projects, and has undertaken numerous bankable technical audits, technical valuations, independent expert reports and due diligence studies worldwide, most of which were on behalf of major international resource financing institutions and banks. Mr. Jones holds a bachelor of science (earth sciences) degree from Massey University, New Zealand.

In addition, the company has, subject to regulatory approval, closed the first tranche of a non-brokered private placement for gross proceeds of $1.05-million consisting of 10.5 million shares. The financing was priced at 10 cents with no warrant. Proceeds will be used to advance the company's flagship Pamlico project in Nevada and for general working capital. The second and final tranche of approximately $450,000 should close in early January and is fully subscribed.

"We are extremely pleased to have Orimco as a financial and technical partner, including having Colin as part of our team," stated Robert Archer, Newrange chief executive officer. "Their involvement is a strong endorsement of the Pamlico project and Newrange's management. Orimco has already been instrumental in bringing new investment into the company. This financing will bridge the gap until such time as we can generate funds from the sale of our Colombian projects and will allow us to advance the Pamlico project that much faster. I would also like to take this opportunity to thank Paul Wang who is stepping down from the board after many years of service to the company."

A finder's fee or commission equal to 7 per cent cash will be payable upon $600,000 and 105,000 shares issued on $300,000 in respect of this financing. All securities issued are subject to a four-month hold period from the date of issuance.

The company has also granted, subject to TSX Venture Exchange approval, an aggregate of 2,366,403 share purchase options to directors, officers, employees and consultants with an exercise price of 14 cents per share and a term of three years.

About Newrange Gold Corp.

Newrange is a precious metals exploration and development company focused on near- to intermediate-term production opportunities in favourable jurisdictions including Nevada and Colorado.

We seek Safe Harbor.