Boxxer announces private placement



    CALGARY, Aug. 7 /CNW/ - Boxxer Gold Corp. (TSX-V:BXX) today announced an
update on activities relating to the Company's proposed private placement and
planned exploration program for its 100% owned Boss Project located in
southwest Nevada.

    25,000,000 Unit Private Placement

    Boxxer today announced its intention to issue up to 25,000,000 Units
priced at $0.04 per Unit to raise gross proceeds of $1,000,000. Each Unit will
consist of one common share in the share capital of Boxxer ("Common Share")
and one Common Share purchase warrant ("Warrant"). Each Warrant shall be
exercisable for 12 months from the date of issuance into one Common Share at a
price of $0.08 per Common Share. The issuance of these Units is subject to
regulatory approval. A finder's fee of 8% cash and 10% broker warrants is
payable in relation to the proposed private placement in line with the
policies of the TSX Venture Exchange.
    Boxxer will use the proceeds to fund its ongoing exploration program
which includes an airborne geophysical survey surface follow-up of targets
outlined in the geophysical program including additional land acquisitions and
a diamond drilling program on its Boss property as well as for general working
capital purposes.
    Boxxer Gold President & CEO Elmer B. Stewart commented, "We anticipate
commencing the exploration program in early September. The result of the
airborne survey will be very helpful in our further understanding of the
geology of the Goodsprings District and may help refine proposed diamond
drilling targets. Once determined, we plan to drill approximately 2,500
metres."

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

    Forward-Looking Statements: This news release may contain certain
forward-looking information. All statements included herein, other than
statements of historical fact, is forward-looking information and such
information involves various risks and uncertainties. There can be no
assurance that such information will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
information. A description of assumptions used to develop such forward-looking
information and a description of risk factors that may cause actual results to
differ materially from forward-looking information can be found in the
company's disclosure documents on the SEDAR website at www.sedar.com. The
company does not undertake to update any forward-looking information except in
accordance with applicable securities laws.

    %SEDAR: 00019646E




For further information:

For further information: Boxxer Gold Corp, Elmer B. Stewart, President &
Chief Executive Officer, Tel: (403) 264-4811, Cel: (403) 680-9584, e-mail:
elmerbstewart@hotmail.com; Boxxer Gold Corp, John L. Maslanyk, Vice President
& Chief Information Officer, Tel: (403) 804-2251, Fax: (403) 237-6292, e-mail:
jmaslanyk@yahoo.com; CHF Investor Relations, Alison Tullis, Senior Account
Manager, Tel: (416) 868-1078 ext. 233, Fax: (416) 868-6198, e-mail:
alison@chfir.com

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Boxxer Gold Corp.

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