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August 27, 2009, Vancouver, BC Lateegra Gold Corp. (the "Company") (LRG - TSX Venture) announces the signing an agreement to acquire 21 mineral claims southwest of Timmins, Ontario in Thorneloe and Price Townships. The claims, consisting of 264 claim units, cover an area of approximately 10,560 acres have been acquired from arms length Vendors. Acquisition costs are a total of $136,000 and 2,000,000 shares as follows:
- $34,000 paid on signing of the agreement;
- $102,000 and 2,000,000 shares of the Company on Exchange approval;
The Vendors will retain a two percent Net Smelter Royalty ("NSR"), of which one-half (one percent) can be purchased by the Company for $1,000,000, leaving the Vendors with a one percent NSR. A finders fee will be payable on this transaction in accordance with TSX Venture Exchange policy. The agreement is subject to the approval of the TSX Venture Exchange.
The Company also announces the private placement of up to 2,000,000 units at $0.35 per unit announced July 21, 2009 is still proceeding. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share at a price of $0.50 per share for a period of two years from the date of closing. Proceeds of the private placement will be used for general working capital and for corporate acquisition purposes.
Finders' fees will be payable in whole or in part on the units issued under the financings, in accordance with TSX Venture Exchange policy.
ON BEHALF OF THE BOARD OF DIRECTORS
"Peter Dickie"
Peter Dickie, Director
"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."
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.
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Lateegra Gold Corp. 
