Batero Closes Private Placement With Consorcio Minero Horizonte S.A.

Batero Gold Corp. (TSX VENTURE:BAT) ("Batero" or "the Company") is pleased to
announce that further to its news releases dated November 1 and 29, 2012, it has
closed the private placement offering with the shareholders of Consorcio Minero
Horizonte S.A. ("Horizonte") of an aggregate (a) 8,913,000 common shares of the
Company at a price of $0.65 per share and (b) 18,456,000 subscription receipts
of the Company at a price of $0.65 per subscription receipt, for aggregate gross
proceeds of $17,789,850 (together, the "Offering"), on the terms as described in
the Company's news release of November 29, 2012.


Before giving effect to the completion of the Offering and the conversion of
subscription receipts, the Horizonte Group directly or indirectly owned or
controlled approximately 8.9% of Batero's issued and outstanding shares, on a
partially diluted basis. Following the Offering, Horizonte, together with its
affiliates and shareholders (the "Horizonte Group") now owns or controls
approximately 19.9% of Batero's issued and outstanding shares, assuming exercise
of all convertible securities held by the Horizonte Group (excluding securities
underlying the subscription receipts). Upon conversion of the subscription
receipts, the Horizonte Group is expected to own or control approximately 35% of
Batero's issued and outstanding shares. The conversion of the subscription
receipts is expected to occur in January, 2013, subject to receipt by Batero of
the requisite approval from its shareholders and TSX Venture Exchange. The
Company has scheduled an annual and special general meeting of shareholders on
December 31, 2012 for the purposes of, among other things, approving the
conversion of the subscription receipts. 


All of the securities issued under the Offering are subject to a statutory hold
period until April 14, 2013 in accordance with applicable Canadian securities
laws. 


The proceeds of the Offering will be dedicated to the development of the
Company's Batero-Quinchia Gold Project located in Colombia and for working
capital and administrative purposes relating to the Batero-Quinchia Project.


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


About Batero Gold

Batero Gold Corp. is a Vancouver-based precious and base metals exploration and
development company focused on its 100% owned Batero-Quinchia project in the
Quinchia district of Colombia's emerging Mid-Cauca porphyry gold and copper
belt. The Company is evaluating the most efficient mine scenario at the La
Cumbre deposit, one of three porphyry deposits at the Batero-Quinchia Project.
Batero plans to leverage its strong management team, regional relationships, and
strategic partnership, to develop its prospective project into Colombia next
major mining venture. 


About Horizonte Group

The Horizonte Group is a group of private Peruvian companies focused on the
exploration, development and production of gold deposits in Peru and elsewhere
in South America. The Horizonte Group is Peru's fifth largest gold producer with
a 2012 production estimate of 230,000 ounces and production to date of over 2.5
million ounces of gold. They own and operate the Parcoy mine in the Pataz
Batholith in northern Peru, the second largest underground gold mine in Peru;
and the Untuca open pit mine in southern Peru. The Horizonte Group also controls
over 150,000 hectares of mining prospects. In addition to striving for efficient
mining operations, the Horizonte Group is dedicated to operating under strict
environmental, safety and technological standards.


ON BEHALF OF THE BOARD OF BATERO GOLD CORP.

Brandon Rook, President & CEO

Batero Gold Corp.

FORWARD LOOKING STATEMENTS: 

Certain of the statements and information in this press release constitute
"forward-looking statements" or "forward-looking information." Any statements or
information that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as
"expects", "anticipates", "believes", "plans", "estimates", "intends",
"targets", "goals", "forecasts", "objectives", "potential" or variations thereof
or stating that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions) are not statements of historical fact and
may be forward-looking statements or information. Forward looking statements or
information related to, among other things, the expected shareholdings of the
Horizonte Group, the expected date of conversion of the subscription receipts
and the planned use of proceeds from the Offering.


Forward-looking statements or information are subject to a variety of known and
unknown risks, uncertainties and other factors that could cause actual events or
results to differ from those reflected in the forward-looking statements or
information, including, without limitation, the need for additional capital by
the Company through financings in order to continue its operations and the
planned exploration and development of the Batero-Quinchia Project, and the risk
that such funds may not be raised; the ability for the Company to obtain the
requisite regulatory and shareholder approval for the transaction; the
speculative nature of exploration and the stages of the Batero-Quinchia Project;
the effect of changes in commodity prices; regulatory risks that development of
the Batero-Quinchia Project will not be acceptable for social, environmental or
other reasons and the efforts and abilities of the senior management team. This
list is not exhaustive of the factors that may affect any of the Company's
forward-looking statements or information. Although the Company has attempted to
identify important factors that could cause actual results to differ materially,
there may be other factors that cause results not to be as anticipated,
estimated, described or intended. Accordingly, readers should not place undue
reliance on forward-looking statements or information.


The Company's forward-looking statements and information are based on the
assumptions, beliefs, expectations and opinions of management as of the date of
this press release, and other than as required by applicable securities laws,
the Company does not assume any obligation to update forward-looking statements
and information if circumstances or management's assumptions, beliefs,
expectations or opinions should change, or changes in any other events affecting
such statements or information. For the reasons set forth above, investors
should not place undue reliance on forward-looking statements and information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Batero Gold Corp.
604.568.6378
[e-mail]
www.baterogold.com