News Release

FOR IMMEDIATE RELEASE
June 5, 2012
Vancouver, BC, Canada � June 5, 2012 � Open Gold Corp. (TSX Venture Exchange: OPG; Frankfurt Stock Exchanges: 5OG) (the �Company� or �Open Gold�) is pleased to announce that further to the news release dated May 8^th, 2012, the TSX Venture Exchange has accepted the Letter of Intent (�LOI�) with Foundation Resources Inc. (FDN: TSX-V) (�Foundation�) for an option to acquire 100% of the Mitchell Massive Sulfide Project for filing. 
 
Open Gold�s new president and CEO, Bryson Goodwin commented;
 
�We couldn�t be more pleased as the Mitchell Project is an important first step in our planned revitalization of Open Gold.�
 
The strategic acquisition of the Mitchell Project allows Open Gold to develop and explore in one of the pre-eminent and safest mining jurisdictions in the world in Ontario, Canada. The short and long-term forecasts for copper and gold show continued growth in consumption and demand. The previous exploration work completed by Foundation indicates significant upside potential with this property.  The Mitchell Project is 2,256 ha in size, located approximately 10 kilometres southwest of the former South Bay Mine (1.6 Mt mined @2.5% copper, 14% zinc and 120 g/t per ton silver). The infrastructure at the property is excellent, being situated approximately 80 kilometres east of the Town of Red Lake, Ontario with access via the South Bay Road that extends east off of Highway 105 and runs along an electrical grid
 
For additional technical information please visit our Website at www.opengoldcorp.com
 
On behalf of the Board of Directors
 
OPEN GOLD CORP.
 
�Bryson Goodwin�
 
Bryson Goodwin
President & CEO
brysongoodwin@shaw.ca
 
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.