Faircourt Gold Income Corp. Rights Offering to Shareholders

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES./

TORONTO, Sept. 29, 2011 /CNW/ - Faircourt Asset Management Inc., (the "Manager") as manager of Faircourt Gold Income Corp. (TSX: FGX) (the "Company") announced today that it filed a final short form prospectus dated September 26, 2011 (the "Prospectus") in each of the provinces of Canada in connection with the distribution to holders of the Company's Class A Shares of rights (the "Rights") to purchase additional Class A Shares (the "Rights Offering"). The Toronto Stock Exchange ("TSX") has approved the listing on the TSX of the Rights (TSX: FGX.RT) and the Class A Shares issuable on the exercise of the Rights.

Under the Rights Offering, holders of Class A Shares as of the close of business on October 14, 2011 (the "Record Date") will receive one Right for each Class A Share held as of the Record Date. Two Rights will entitle the holder thereof to purchase one Class A Share at a subscription price of $9.80. The Rights will expire at 4:00 p.m. (Toronto time) on November 9, 2011. CIBC is the dealer manager for the Rights Offering.

The Rights Offering will include an additional subscription privilege under which holders of Rights who exercise their Rights will be entitled to subscribe for additional Class A Shares, if available, that were not otherwise subscribed for in the Rights Offering.

The Company will use the net proceeds of the Rights Offering to acquire additional portfolio securities, all in accordance with the investment objectives and investment strategy of the Company and subject to its investment restrictions.

This offering is only made by prospectus. The Prospectus contains important detailed information about the securities being offered. Copies of the Prospectus may be obtained from the Manager. Investors should read the Prospectus before making an investment decision. Completion of the Rights Offering is subject to stock exchange and other regulatory approval.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in the United States.  Securities may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended, and applicable state securities laws, or an available exemption from such registration.

SOURCE Faircourt Gold Income Corp.

For further information:

on the Rights offering or other Faircourt Funds, please visit www.faircourtassetmgt.com or contact: Charles Taerk, President and CEO or Douglas Waterson, CFO and Portfolio Manager at (416) 364-8989 or 1-800-831-0304.

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Faircourt Gold Income Corp.

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Faircourt Asset Management Inc.

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