VAL-D'OR, QUEBEC--(Marketwire - April 25, 2011) - Threegold Resources Inc. (News - Market indicators) is pleased to announce that it has initiated a non-brokered private placement of up to 3,500,000 units at a price of $0.30 per unit, for aggregate gross proceeds of up to CDN$1,050,000. Each unit will consist of one common share and one full share purchase warrant. Each Warrant will be exercisable to purchase one common share of the Company for 12 months, at a price of $.40 per share. The warrants may subject to a forced conversion, which comes into effect once the shares trade above a weighted average price of $0.60 for a twenty consecutive trading-day period. In the event of a forced conversion the warrant holders will have 30 days to exercise warrants.

The net proceeds from this private placement will be used for general working capital purposes. Commissions or finder's fees may be paid to qualified entities up to the rates allowed by the TSX Venture Exchange. The financing is subject to the approval of the TSX Venture Exchange.

ABOUT THREEGOLD

Threegold Resources is actively pursuing gold discoveries on three projects in prolific mining and exploration camps in Ontario and Québec. The 100% owned Adanac project is immediately adjacent to Gold Bullion's Granada discovery and west of Osisko's 12M ounce deposit on the Abitibi belt. The South Bay Project has yielded a significant surface discovery near Val-d'Or and the Company has recently acquired land in the Shining Tree Camp on the western extension of the Cadillac–Larder Lake Fault Zone. Management is evaluating opportunities to create shareholder value with its recent Rare Earth Element discovery and its Base Metal project in the Gaspé Peninsula.