Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth") today
announced the completion of its previously announced non-brokered Private
Placement financing for gross proceeds of C$2,357,150. 


The financing consisted of 11,785,750 Units at a price of C$0.20 per Unit. Each
Unit consists of one common share and one common share purchase Warrant. Each
whole Warrant entitles the holder to purchase one common share at a price of
C$0.35 per share, exercisable for a period of 24 months and one day from the
date of issuance. 


Glass Earth paid persons and/or companies who introduced investors to the
Company, on the closing date, a finder's fee payable in cash equal to 6% of the
amount raised for a total of CAD$50,730 and non-transferable finder's fee
warrants ("Finder's Warrants") to purchase shares in number equal to 6% of the
Warrants sold under the Private Placement for a total of 253,650 finder warrants
issued. The Finder's Warrants have the same terms as the Warrants issued in
conjunction with the Units.  


The non-brokered Private Placement has now been fully completed and the net
proceeds from the C$2,357,150 will be used towards financing the purchase of 50%
of the placer gold operations announced on March 15, 2012, bringing Glass Earth
Gold's ownership to 100%. It will also provide additional working capital.


About Glass Earth Gold Limited 

Glass Earth is one of the largest New Zealand-based gold exploration companies
exploring a land position of approximately 10,000 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) including drilling
at the WKP discovery, is being actively explored and managed by Newmont in
concert with Glass Earth Gold. 


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 expansion of the placer/alluvial
gold mining operations. 


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