Boxxer provides update on corporate activities including private placements



    CALGARY, Feb. 24 /CNW/ - Boxxer Gold Corp. (TSX-V:BXX) is pleased to
provide an update on corporate activities relating to the Company's
exploration and investor relations activities. Highlights are as follows:

    Highlights:

    
    a)  17.0 million unit private placement to fund a diamond drilling
        program on the Boss project and working capital,
    b)  Completion of a 1,707,400 unit private placement, and
    c)  CHF has been retained to provide investor relations and market-making
        activities.
    

    Boxxer Announces 17,000,000 Unit Private Placement

    Boxxer today announced its intention to issue 17,000,000 Units priced at
$0.03 per Unit to raise gross proceeds of $510,000. Each Unit will consist of
one common share in the share capital of Boxxer ("Common Share") and one-half
of a Common Share purchase warrant ("Warrant"). Each whole Warrant shall be
exercisable for 18 months from the date of issuance into one Common Share at a
price of $0.10 per Common Share. The issuance of these Units is subject to
regulatory approval. A finder's fee may be 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 a preliminary drilling exploration
program on its Boss property in southern Nevada, and for general working
capital purposes.

    Private Placement Closed

    Boxxer has closed a 1,707,400 Unit private placement with two directors
and one insider at $0.035 per Unit, as was previously announced on February 5,
2009, for gross proceeds of $59,759. Each Unit consisted of one common share
and one-half of a common share purchase warrant. Each whole warrant shall be
exercisable for 18 months from the date of issuance into one common share at a
price of $0.10 per common share. Proceeds from this private placement will be
used for general working capital.

    Investor Relations

    Subject to TSX Venture Exchange acceptance, Boxxer has retained the
services of CHF Investor Relations ("CHF"). CHF is Canada's only Investor
Relations (IR) firm whose management team's combined experience possesses more
than 80 years covering brokerage, trading, financial analysis, and investment
sales, over and above their work in IR.
    Boxxer's President & CEO, Elmer B. Stewart, commented, "We anticipate
significant progress to be made in 2009 so we have engaged CHF to manage our
Investor Relations program to ensure that we effectively communicate with our
shareholders and achieve our IR goals to broaden our base of recognition in
the investment community."
    CHF will provide investor relations and market-making services for an
initial period of twelve months. In the absence of written termination notice
by either party effective February 23, 2010, IR service shall continue
thereafter on an open-ended basis whereby cancellation by either party
requires three (3) months notice in writing. CHF will be paid a monthly fee up
to $6,000 plus allowable disbursements. Additionally, subject to regulatory
approval, Boxxer Gold has granted incentive stock options to CHF in the amount
of 750,000 options at an exercise price of $0.10 per share expiring on the
earlier of either February 22, 2011, or upon 30 days after the termination of
the contract. Pursuant to the rules of the TSX Venture Exchange, the options
are subject to a vesting schedule whereby 25% vest at intervals of three
months following the date of grant.
    CHF's Market Liquidity Program for Boxxer Gold, more commonly referred to
as market-making, will be conducted through CHF's Calgary office. The
market-making activity will be undertaken by CHF through a registered broker
in compliance with the guidelines established by the TSX Venture Exchange
Policy 3.4 and other relevant policies.
    CHF does not currently own any shares of Boxxer Gold Corp.

    
    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, Telephone: (403) 264-4811, e-mail:
elmerbstewart@hotmail.com; Boxxer Gold Corp.: Colin Christensen,
Vice-President, Tel: (403) 264-4811, Fax: (403) 237-6292, e-mail:
colin@boxxergold.com; CHF Investor Relations: Alison Tullis, Senior Account
Manager, Tel: (416) 868-1079 ext. 233, Fax: (416) 868-6198, e-mail:
alison@chfir.com

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