Georgetown Capital Corp. Closes $2.1 Million Private Placement and Qualifying Transaction

Georgetown Capital Corp. (TSX VENTURE:GET) ("Georgetown" or the "Company") is
pleased to announce that it has completed an equity financing for gross proceeds
of CDN$2,063,750 concurrent with the closing its Qualifying Transaction
(previously announced on October 7, 2010 and February 14, 2011) by way of a
non-brokered private placement at a price of CDN $0.55 per share (the "Private
Placement"). The net proceeds of the Private Placement will be used to fund the
acquisition of and the exploration program on the Tanacross Property and to
provide general working capital. The shares issued under the Private Placement
are subject to a 4-month hold period and will not become free trading until June
15, 2011.


Effective at the opening of the market on Wednesday, February 23, 2011, the
common shares of the Company resumed trading on Tier 2 of the TSX Venture
Exchange under the trading symbol GET. The Company will no longer be considered
a Capital Pool Company and will be classified as a "Mineral Exploration and
Development" company.


On Behalf of the Board

Shawn Wallace, Director