Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth") today
announces that it has closed the first tranche of its previously announced
non-brokered Private Placement. A total of 4,717,184 Units have been sold at a
price of $0.55 per unit for gross proceeds of C$2,594,451.  


Each Unit consists of one common share and one half of a common share purchase
Warrant. Each whole Warrant entitles the holder to purchase one common share at
a price of C$0.80 per share, exercisable for a period of 24 months from the date
of issuance. 


All securities issued pursuant to the private placement are subject to a hold
period and may not be traded until January 27, 2012.


The Company anticipates closing a further tranche shortly. 

The proceeds of this financing will be used for drilling, mineral exploration
and general working capital purposes. 


About Glass Earth Gold Limited 

Glass Earth is one of the largest New Zealand-based gold exploration companies
exploring a land position of approximately 10,800 square kilometres in the North
and South Islands. 


In the North Island, exploration efforts are focused on large epithermal gold
systems in the Hauraki/Central Volcanic Region. This Region is host to the 10
million ounce Martha Gold Mine, (Newmont Mining).




          Hauraki Region - Glass Earth occupies a significant ground        
          position adjacent to the Waihi/Martha Gold Mine; The Newmont-Glass
          Earth Waihi West JV (Newmont earning 65%) and Hauraki JV (North   
          and Central Areas - 65/35) are currently being explored and       
          managed by Newmont.                                               
                                                                            
          Central Volcanic Region - Glass Earth has defined several         
          significant epithermal gold targets in this region including the  
          Muirs Reef project (Mamaku district).                             



In the South Island, exploration efforts are focused on the Otago Region for
mesothermal "Macraes-style" gold targets and placer/alluvial gold. 


Visit the Company's website at www.glassearthgold.com. 

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


To view the map associated with this release, please visit the following link:
http://media3.marketwire.com/docs/GlassEarthGoldMap.pdf.
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