REBgold Corporation: Update on Rantasalmi Gold Project

TORONTO, CANADA -- (Marketwire) -- 09/26/12 -- REBgold Corporation ("REBgold" or the "Company") (TSX VENTURE: RBG) is pleased to announce that the final three drill holes of the phase 2 drill program on the Rantasalmi project in Finland have been completed (JV with Belvedere Resources) (TSX VENTURE: BEL). Two holes were drilled in the eastern end of the Osikonmaki shear zone aimed at extending the high grade hanging wall zone discovered in 2011. The third hole was drilled to investigate one of the anomalies resulting from the recent geophysical survey. The IP survey, which modelled known mineralization very well, indicated that mineralization not only potentially continues eastwards beyond the drilling but also identified a new anomalous trend further to the north The third hole was targeted to intercept the southern edge of this northern anomaly. Samples have been submitted for analysis and results are expected in three weeks.

Mark Burridge, Chairman, comments, "All holes intercepted sulphide mineralization which, while not always a clear indicator of gold grades, is positive, particularly in light of the geophysics results which indicate that the system continues to the East."

The first of a planned series of public information days was organized by the Rantasalmi Municipality. The event was very well attended with over 100 people from the local community in attendance. The joint venture presented the results of the exploration to date on the Osikonmaki gold project, discussed plans for the future and answered questions and concerns. The Company was very pleased with the interest shown by the local community and municipality and intends to continue updating and involving them as appropriate.


Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company (including statements relating to future drilling and interpreted continuity of the new mineralized zones) are forward-looking statements that involve various degrees of risk. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements.


Qualified Person

The technical aspects of this statement have been prepared by Dr. Toby Strauss (CGeol), Chief Operating Officer of Belvedere Resources Ltd, who is acting as a Qualified Person in compliance with National Instrument 43-101 with respect to this release. Dr. Strauss has verified the data supporting this press release. Verification included reviewing the geophysics, examining photographs of the core, s and reviewing the geological interpretation.


About Joint Venture with Belvedere (TSX VENTURE: BEL)

In 2011, REBgold and Belvedere Resources signed an Earn-In Agreement, whereby REBgold has the right to earn an interest in two of Belvedere's properties, Kiimala and Rantasalmi. REBgold can earn a 50% interest in the Properties by making expenditures of CDN $6M in a 4 year period. During the first year, REBgold spent CDN $1.5M on the Properties. After the earn-in has been completed a decision as to whether to proceed to a feasibility study will be made and, if REBgold elects, it will have a period of a further 2 years to complete the feasibility study. By completing the feasibility study, REBgold's stake would increase to between 55% and 75%, depending on the level of Belvedere's contribution to the study. A further 5% interest may be earned through the contribution of BACOX technology to the Projects. REBgold currently owns 14% of the projects.


REBgold PROFILE

REBgold is in the process of acquiring and developing economic interests in gold assets, in particular, where it can utilize its competitive advantages, to create shareholder value.

The Company's key competitive advantages include an experienced board and management team, strategic investor backing and proprietary technology. The Company's bacterial oxidation and bioleaching technologies are commercially proven for the liberation of precious metals from difficult- to-treat sulphide ores and concentrates, with environmental and economic benefits. To date, the Company's BACOX technology has been used at three gold mines located in Western Australia, Tasmania and China.

Shares outstanding 20,175,849


Neither the 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.



Contacts:

REBgold Corporation
Bill Mitoulas, Investor Relations
416-479-9547
billm@venturenorthcapital.com

REBgold Corporation
EJ Spencer, Corporate and Investor Relations Administrator
416-646-1850 X 242
www.reb-gold.com