Tagish undertakes $1.7 million non-brokered private placement of flow-through units



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

    (TSX.V: TLG)

    RICHMOND, BC, Sept. 25 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX-V: TLG)
("Tagish" or "the Company") announces that it is undertaking a non-brokered
$1.7 million private placement offering of flow-through share units (the
"Units") at a subscription price of C$0.17 per Unit. Each Unit consists of one
"flow-through" common share in the capital of the Company and one-half of one
non-transferable common share purchase warrant, each whole warrant entitling
the holder to acquire one additional common share at a price of C$0.25 per
share for eighteen (18) months from the date of issuance.
    The funds will be used for a 5,000 m diamond drilling program to test the
extensions of the Rainbow Two and Berg zones above the 1400 m elevation and
below the 1200 m elevation. The anticipated proceeds of the flow-through
offering will be used for eligible Canadian Exploration Expenses ("CEE") as
defined in subsection 66.1(6) of the Income Tax Act (Canada) on the Company's
Skukum Creek gold-silver deposit.
    Completion of this proposed private placement will be subject to the
negotiation, execution and delivery of definitive subscription agreements, TSX
Venture Exchange acceptance of the proposed subscribers and documentation
related to the offering. Any securities to be issued with will be subject to a
hold period of four months from the closing date in accordance with the rules
and policies of the TSX Venture Exchange and applicable Canadian securities
laws.
    In connection with the flow-through offering the Company has agreed with
certain eligible registrants to pay a finders' fee in cash of 8% of the
proceeds raised from participating subscribers introduced to the Company by
such registrants and grant finders' warrants on terms similar to those
included in the flow-through share units equal to 8% of the Units subscribed
by such subscribers.

    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 km2 Skukum Mineral District located 80 km by
road south of Whitehorse. The Skukum Mineral District hosts the Skukum Creek
gold-silver deposit and the Goddell Gully gold deposit, and has a currently
defined measured plus indicated resource of 1,420,000 tonnes grading 6.8 g/t
Au and 131 g/t Ag (MineTech International Ltd., 2007 Update), and the Mt.
Skukum gold deposit.

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
of the Company have not been registered under the United States Securities Act
of 1933, as amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons
unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.

    Certain statements contained in this news release using the terms "may",
"expects to", "projects", "estimates", "plans", and other terms denoting
future possibilities, are forward-looking statements in respect to various
issues including upcoming events based upon current expectations which involve
risks and uncertainties that could cause actual outcomes and results to differ
materially. The future conduct of the Company's business and the feasibility
of its mineral exploration properties are dependent upon a number of factors
and there can be no assurance that the Company will be able to conduct its
operations as contemplate and the accuracy of these statements cannot be
guaranteed as they are subject to a variety of risks that are beyond our
ability to predict or control and which may cause actual results to differ
materially from the projections or estimates contained herein. The risks
include, but are not limited to, the risks described in the above press
release; those risks set out in the company's disclosure documents and its
annual, quarterly and current reports; the fact that exploration activities
seldom result in the discovery of a commercially viable mineral resource and
are also significant amounts of capital to undertake and the other risks
associated with start-up mineral exploration operations with insufficient
liquidity, and no historical profitability. The Company disclaims any
obligation to revise any forward looking statements as a result of information
received after the fact or regarding future events.

    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR ACCURACY OF THIS RELEASE




For further information:

For further information: visit the Company's website at
www.tagishgold.com, or contact: Tagish Lake Gold Corp.: Robert Rodger, P.Eng.,
President, investor@tagishgold.com, (604) 273-6477, Fax: (604) 273-6488,
www.tagishgold.com; Renmark Financial Communications Inc.: Barbara Komorowski:
bkomorowski@renmarkfinancial.com; John Boidman: jboidman@renmarkfinancial.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

Organization Profile

TAGISH LAKE GOLD CORP.

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