StrikePoint Gold Inc. closes $7,188,984 private placement

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Dec. 17 /CNW/ - StrikePoint Gold Inc. ("StrikePoint") (TSXV: SKP) announces that the Private Placement announced and amended in press releases dated November 26, 2009 and November 30, 2009, respectively, has closed.

The Private Placement, led by Dundee Securities Corporation and including PI Financial Corp. (the "Agents") included the sale of 4,687,200 common shares issued on a flow-through basis pursuant to the Income Tax Act (Canada) (the "Flow-Through Common Shares") at a price of $0.47 per Flow-Through Common Share for gross proceeds of $2,202,984 and the sale of 12,465,000 non-flow-through units (the "Units") at a price of $0.40 per Unit for gross proceeds of $4,986,000, each Unit being comprised of one common share and one-half of one transferable common share purchase warrant. Each full warrant is exercisable into one common share of the Corporation at an exercise price of $0.60 for a period of 24 months from the closing date. The total gross amount raised in the Offering was $7,188,984. The sale of 12,465,000 Units represents a 125,000 Unit increase over the amount announced in StrikePoint's press release of November 30, 2009.

As consideration to the Agents, the Corporation has paid a commission of 6.0% of the total proceeds raised upon closing and has issued Agents' warrants (the "Agents' Warrants") equal to 6.0% of the Units and Flow-Through Common Shares issued pursuant to this Offering. Each Agents' Warrant will be exercisable to acquire one common share at $0.60 for a period of 24 months from the closing date. The securities issued under this financing will be subject to a four month hold period from the date of closing of the offering.

The Corporation intends to use the net proceeds for exploration of its mineral properties located in Manitoba. Expenditures from the Flow-Through Common Shares will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2009 taxation year.

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.

Forward-looking Statements

This press release contains forward-looking statements. Any statements that are contained in this press release that are not statements of historical fact may be considered forward-looking statements. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to statements concerning the anticipated private placement and the involvement of the directors and officers therein. Although StrikePoint believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because StrikePoint can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These forward-looking statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the risks associated with the mining industry, commodity price and exchange rate fluctuation and ability to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE StrikePoint Gold Inc.

For further information: For further information: Richard Boulay, (403) 243-9500

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