Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth") wishes to
announce that it is undertaking a private placement financing for gross proceeds
of up to C$500,000.


Private Placement

The Private Placement will consist of up to 10,000,000 units at a price of
C$0.05 per unit. Each unit will consist of one common share and one share
purchase warrant. Each warrant will entitle the holder to purchase one common
share at a price of C$0.10 per share, exercisable for a period of 3 years from
the closing date.


The proceeds from the financing will be used for general corporate purposes.

All the securities issued pursuant to the foregoing will be subject to a
four-month hold period. The private placement is subject to the approval of the
TSX Venture Exchange.


Issuance of Shares Pursuant to Farm-In Terms

Glass Earth has previously announced the:

- Option into the Rise & Shine prospect (June 9, 2009); and

- Farm-In to the Ophir Gold Ltd Exploration Permit 40 427 (August 18th, 2009).

Both of these agreements require the issuance of fully paid common shares as a
component part of the deals. The Rise & Shine Option requires the issuance of
100,000 Glass Earth shares and the Ophir Gold Farm-In requires the issuance of
one million Glass Earth shares. The issuance of these shares is subject to the
approval of the TSX Venture Exchange.


Glass Earth is finalising regulatory consents and completing preparations for
bulk testing at each of its initial placer and hard rock targets.


Qualified Persons

Glass Earth's exploration programmes are carried out under the supervision of
Glass Earth's President and CEO, Simon Henderson, M.Sc, M.AUSIMM, F.SEG. Mr.
Henderson meets the qualified person requirements (as defined by National
Instrument 43-101) with more than 30 years of experience in the gold mining and
exploration industry.


About Glass Earth Gold Limited

Glass Earth is one of the largest New Zealand-based gold exploration companies
exploring a land position of over 17,000 km2 in the North and South Islands.
With its main office in Wellington, New Zealand, Glass Earth Gold Limited is
listed on the TSX Venture Exchange (TSX VENTURE:GEL) and the New Zealand
Alternative Stock Exchange (NZAX:GEL).


To receive Company news via email, contact lindsay@chfir.com and mention "Glass
Earth news" in the subject line.
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