Tagish announces $642,500 non-brokered private placement

RICHMOND, BC, March 31 /CNW/ - Tagish Lake Gold Corp., (TSX-V: TLG) ("Tagish" or the "Company") announces that it has negotiated a non-brokered private placement of 12,850,000 common shares (the "Shares") at an exercise price of $0.05 per share for total proceeds of $642,500 (the "Placement"). The terms of the Placement are subject to acceptance by the TSX Venture Exchange. No finders' fee or commission will be paid in regard of the Placement.

In accordance with securities legislation currently in effect, the Shares will be subject to a "hold period" of four months plus one day from the date of issuance of the aforesaid securities.

The proceeds of the Placement will be used for continuing exploration programs on the Company's mineral exploration projects and for working capital.

About Tagish Lake Gold Corp.

Tagish Lake Gold Corp. explores for and develops high grade gold-silver mineral deposits in the Yukon Territory of Canada. The Company is currently focused on its wholly owned, 178 km(2) Skukum Mineral District located 80 km by road south of Whitehorse. The Skukum Mineral District hosts the Skukum Creek gold-silver deposit, the Goddell Gully and the Mt. Skukum gold deposits. For further information, visit the Company's website at www.tagishgold.com.

Tagish Lake Gold Corp.

Graham Dickson, CEO and President

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 news release.

%SEDAR: 00015705E

SOURCE TAGISH LAKE GOLD CORP.

For further information: For further information: TAGISH LAKE GOLD CORP., 2210 - 21331 Gordon Way, Richmond, British Columbia, Canada, V6W 1J9

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TAGISH LAKE GOLD CORP.

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