Closes Fully Subscribed Private Placement

Open Gold Closes Fully Subscribed Private Placement

 
Open Gold Corp. (TSX Venture Exchange: OPG; Frankfurt Stock Exchanges: 5OG) (the ?Company? or ?Open Gold?) is pleased to announce that, further to its news release dated July 10, 2012, it has received final TSX Venture Exchange acceptance with respect to the closing of its non-brokered private placement (?Private Placement?).  The Company issued 6,163,000 units at a price of $0.05 per unit for gross proceeds of $308,150.  Each unit consists of one common share and one share purchase warrant (?Warrant?) of the Company.  Each Warrant entitles the holder to purchase one additional common share at a price of $0.10 for a period of 18 months from closing.  This private placement was over subscribed by 163,000 units. 
 
Bryson Goodwin, President & CEO, States, ?I couldn?t be happier with the demand and response to our changes in Open Gold. To fully subscribe a Private Placement in the summer with a slow market demonstrates a clear message of support for Open Gold?s plans going forward.?
 
No finder?s fees were paid on the placement
 
The proceeds from the private placement are to be used for working capital purposes.
 
The securities issued are subject to a four month hold period expiring December 9, 2012.
 
 
On behalf of the Board of Directors
 
OPEN GOLD CORP.
 
?Bryson Goodwin?