LATEEGRA ANNOUNCES PRIVATE PLACEMENT

September 25, 2008, Vancouver, BC: Lateegra Gold Corp. (the "Company") (LRG - TSX.V, LTGA - Frankfurt) announces that it is not proceeding with the private placement first announced on July 16, 2008.

The Company announces it has arranged, subject to TSX Venture Exchange approval, a private placement of 9,600,000 units at $0.10 per unit for total gross proceeds of $960,000. Each unit will consist of one common share and one non-transferable share purchase warrant, each warrant exercisable into one additional common share at a price of $0.12 per share for a period of two years from the date of closing.

The proceeds of the placement will be used for general working capital.

Finders' fees may be payable in whole or in part on the units issued under the financing, in accordance with TSX Venture Exchange Policy.

The Company also announces that it will be proceeding with its name change approved at the Company's AGM to "Phosrock Minerals Corp." upon completion of the necessary filings.

ON BEHALF OF THE BOARD OF DIRECTORS

"Casey Forward "
CFO

THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.