Source: Blake, Cassels & Graydon LLP – Vancouver

Liberty Metals & Mining Holdings, LLC Acquires Shares of True Gold Mining Inc.

TORONTO, ONTARIO--(Marketwired - July 25, 2013) - Liberty Metals & Mining Holdings, LLC ("LMM") is pleased to announce that it has entered into an investment agreement (the "Investment Agreement") with True Gold Mining Inc. ("True Gold"), pursuant to which LMM has purchased, on a private placement basis (the "Transaction"), 52,755,248 common shares (the "Purchased Shares") of True Gold at a price of C$0.33 per Purchased Share for a total subscription price of C$17,409,231.84.

Pursuant to the Transaction, LMM acquired 52,755,248 Purchased Shares of True Gold representing approximately 19.9% of True Gold's issued and outstanding share capital. The Purchased Shares represent LMM's initial investment in True Gold and, accordingly, LMM owns the same percentage of True Gold's issued and outstanding share capital upon completion of the Transaction. The Transaction closed on July 25, 2013.

Pursuant to the Investment Agreement and to the extent that LMM owns 7.5% of True Gold's issued and outstanding share capital, LMM will be entitled to nominate one person to be appointed to the board of directors of True Gold and will have a pre-emptive right to participate in any future equity financings of True Gold.

The Purchased Shares were acquired for investment purposes. Depending on market conditions and other factors, LMM may from time to time acquire additional securities of True Gold or dispose of securities of True Gold in the open market, by private agreement or otherwise.

For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see True Gold's profile on the SEDAR website

Contact Information:

Liberty Metals & Mining Holdings, LLC
Makko DeFilippo
1-617-482-3504 (FAX)