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July 28, 2009, Vancouver, BC: Lateegra Gold Corp. (the “Company”) (LRG – TSX Venture) is pleased to announce the acquisition of two additional properties in the Timmins area of Ontario.
The Price property, consisting of 5 mineral claims (52 claim units) covering a total of approximately 2080 acres located 20kms southwest of Timmins, and approximately 8kms east-southeast of the West Timmins Mining “Golden River Zone”.
The Eastern Extension Property consists of 4 mineral claims (18 claim units) covering a total of approximately 720 acres located 9kms southwest of Timmins, and approximately 9 kms due east of the Lake Shore Gold – West Timmins “Thunder Creek” project.
Results published by Lake Shore and West Timmins (see NR June 24, 2009) show promising results for a resurgence in this historic mining camp including drilling results of 12.75 grams per tonne gold over an 83.4 meter intercept.
The Price and Eastern Extension Properties have been acquired from arms length Vendors. Acquisition costs are a total of $90,000 and 600,000 shares as follows:
- $15,000 paid on signing of the agreement;
- 600,000 shares of the Company on Exchange approval;
- $25,000 cash 12 months after the date of the agreement;
- $50,000 cash 24 months after the date of the agreement;
The Company must also incur a minimum of $50,000 in qualified exploration expenditures on the property in each of the first two years of the agreement. The Vendors will retain a two and one-half 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 two percent NSR. A finders fee will be payable on this transaction in accordance with TSX Venture Exchange policy.
“We are excited to enhance the Company’s land holdings in this historic gold mining district. With activity increasing following the recent release of results, land positions in the area are becoming more and more difficult to obtain” states Lateegra Director, Peter Dickie.
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. 
