La Ronge Gold Announces Closing of $5.3 Million Private Placement Unit and Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - March 30, 2012) - La Ronge Gold Corp. (TSX VENTURE: LAR) ("La Ronge" or the "Company") is pleased to announce that it has closed the private placement equity financing previously announced on March 13, 2012 (the "Offering") led by Canaccord Genuity Corp. (the "Agent"). The Company has issued 7,135,500 units (the "Units") at a price of $0.55 per Unit for gross proceeds of $3,924,525, and 2,046,500 common shares issuable on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $0.65 per Flow-Through Share for gross proceeds of $1,330,225 for total aggregate gross proceeds of $5,254,750 (the "Offering").

Each Unit consists of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to subscribe for one additional share of the Company for a period of 24 months from the closing of the Offering at an exercise price of $0.70.

The Agents received a cash commission of approximately 7% of the gross proceeds raised through the Offering and Warrants ("Broker Warrants") equal to approximately 7% of the securities issued through the Offering as well as a corporate finance fee of 75,000 common shares. Each Broker Warrant shall be exercisable to acquire one common share of the Company at an exercise price of $0.70 for a period of 24 months from closing. Securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing.

The proceeds raised under the Offering will be used for exploration and development of the Company's Saskatchewan projects and for general working capital purposes.

This News Release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws unless an exemption from such registration is available.


La Ronge Gold Corp. is a gold exploration company focusing on the exploration of gold projects in Canada. The Company has acquired projects in Saskatchewan with historical gold ounces and is in the process of bringing those historical gold ounces to the NI 43-101 standards. The Company also holds other gold projects located in Ontario, Canada.


La Ronge Gold Corp. has engaged the IR services of Jessica Karalash on a consulting basis with no fixed term, at an anticipated cost for the next 12 months of $25,000 plus 50,000 incentive stock options, for the purpose of responding to the queries of investors and shareholders and the distribution of material previously disclosed by the Company. La Ronge Gold Corp. has engaged the IR services of Alana Bennett as an employee with no fixed term, at a cost of $51,500 in the next twelve months plus 40,500 incentive stock options, for the purpose of corporate administration, including responding to the queries of investors and shareholders and the distribution of material previously disclosed by the Company. La Ronge Gold Corp. has engaged the IR services of Imagepoint Communications Ltd., led by John Johnston, on a consulting basis with no fixed term, at a cost of $60,000 in the next twelve months plus 100,000 incentive stock options, for the purpose of responding to the queries of investors and shareholders and for the distribution of material previously disclosed by the Company. All of the forgoing persons conducting investor relations services are at arm's length of the company.


Disclaimer for Forward-looking Information

This news release includes forward-looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward-looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward-looking statements in this news release are reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.

Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward-looking statements. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact Information

La Ronge Gold Corp.
Rasool Mohammad
President & CEO
(604) 639-4533
(604) 685-3764 (FAX)
www.larongegold.com