TORONTO, ONTARIO--(Marketwire - April 11, 2011) -Reliant Gold Corp. ("Reliant" or the "Company") (TSX VENTURE:REC) is pleased to announce that it has raised $375,000 through a non-brokered private placement completed today of 2,777,777 units (the "Units") at a price of $0.135 per Unit (the "Offering"). Each Unit is comprised of one flow-through common share of Reliant (a "Flow-Through Share") within the meaning of the Income Tax Act (Canada) and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one common share of Reliant at a price of $0.20 at any time prior to 5:00 p.m. (Toronto time) on the second anniversary of the date of the closing of the Offering at which time any unexercised Warrants will expire.

On the closing of the Offering, First Canadian Securities, a division of Limited Market Dealer Inc., ("First Canadian") was paid a cash finder's fee of $22,500 representing 6% of the gross proceeds of the Offering. In addition, First Canadian was issued irrevocable and non-transferable finder's fee options (the "Finder's Fee Options") to purchase 222,222 finder's fee units (the "Finder's Fee Units") (equal to 8% of the 2,777,777 Units sold pursuant to the Offering) at a price of $0.135 per Finder's Fee Unit at any time prior to 5:00 p.m. (Toronto time) on the second anniversary of the date of the closing of the Offering. Each Finder's Fee Unit will consist of one common share and one-half of one Warrant.

Reliant will use the gross proceeds from the Offering to incur exploration expenditures which are eligible as Canadian Exploration Expenses under the Income Tax Act (Canada). The exploration expenditures will be made to advance development of the Company's Borden Lake South (Chapleau, Ontario) and MC Dalhousie (Stewart, British Columbia) properties.

"We are very pleased to be commencing a relationship with MineralFields Group", said Kabir Ahmed, the Chairman, President and Chief Executive Officer of Reliant. "This is an important milestone in the growth of Reliant and we look forward to working with MineralFields Group as we develop our holdings in the Chapleau, Ontario and Stewart, British Columbia gold districts."

All securities issued pursuant to the Offering, including the Finder's Fee Options, (and any underlying securities) will be subject to a statutory and regulatory hold period expiring four months following the closing of the Offering.


Reliant is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The Corporation holds: (i) an option to acquire a 100% interest in the MC Dalhousie Property located in northwestern British Columbia, Canada; (ii) an option to acquire a 100% interest in the North Nonacho Property in the vicinity of Nonacho Lake, Northwest Territories, Canada; (iii) an option to acquire a 100% interest in the Esten Property located 10 km south of Elliott Lake, Ontario, Canada, as well as 16 units staked by the Company contiguous to the Esten Property; and (iv) a 100% interest in the Borden Lake South Property, comprised of 288 claims, located 10 km east of town of Chapleau, Ontario. The common shares of Reliant trade on the TSX Venture Exchange under the stock symbol "REC". The Company has 16,725,000 common shares issued and outstanding.


MineralFields Group (a division of Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at First Canadian Securities (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities.


Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Reliant or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Reliant with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in continuous disclosure documents filed by Reliant from time to time with the Ontario, British Columbia and Alberta Securities Commissions which are available at and to which readers of this press release are referred for additional information concerning Reliant, its prospects and the risks and uncertainties relating to Reliant and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Reliant to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Reliant cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date hereof. Reliant does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or disapproved the contents of this press release. 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 release.

Contact Information:

Reliant Gold Corp.
Kabir Ahmed
Chairman, President and Chief Executive Officer and Director
(416) 365-6580
(416) 946-1951