Day: December 23, 2011

HALIFAX, Dec. 23, 2011 /CNW/ – (CNW – December 23, 2011) – Terry Coughlan, President and CEO of GoGold Resources Inc. (“GoGold”), is pleased to announce that GoGold has closed its previously announced non-brokered private placement financing of $4,500,000. The private placement comprised the sale of 3,600,000 common shares at a price of $1.25 per share (the “Private Placement”) The common shares issued in this Private Placement are subject to a 4 month hold period which ends on April 24, 2012.

New Gold Inc. and Silver Quest Resources Ltd. today announce that New Gold has completed the acquisition of all the shares of Silver Quest. Under the terms of the court approved arrangement, 10.5 million New Gold common shares were issued to former Silver Quest securityholders on the basis of 0.09 of a New Gold share for each Silver Quest share and nominal cash consideration.

In calendar year 2011 Yale generated modest revenue of approximately $193,000 as a result of cash payments and management fees from optionees, sale of shares in optionees, oil and gas revenue, and consulting for third party companies. In addition, current free trading, saleable, shares amount to approximately $227,000 as of Dec. 22.