New Drill Intercept of 9.6m Averaging 10.0g/t Au Within 55.5m Averaging 2.9g/t Au

REBgold Corporation (TSX VENTURE:RBG) ("The Company") is pleased to announce the
first results from the 2012 resource expansion drill campaign at the Osikonmaki
gold project, one of a number of mineralized occurrences on the Joint-venture
Rantasalmi Property in Finland. The campaign is designed to test the extents of
the current boundaries of the resource envelope defined in the 2011 drilling.
The Company targeted the high-grade hanging wall zone, discovered in 2011.
Results from the first two holes are highlighted as follows;


Highlights from drill-hole BELOSI-78:



--  55.46m @ 2.85g/t gold from 46.04m down-hole (0.3 g/t cutoff), indicating
    bulk tonnage potential of the system. 
    
--  This includes a higher grade zone of 19.86m @ 6.32g/t gold from 46.04m
    down-hole (1g/t cutoff), containing 9.6m @ 10.01g/t gold. 



The zone intercepted by BELOSI 78 occurs in the hanging wall to the main shear
and this upper zone has been delineated over 80 meters of strike to date.
Structural measurements on the zone now suggest an east/west oriented
sub-vertical shear zone. Mineralization is associated with moderate to intense
shearing and continued to the end of the hole at 101.5 m depth. Unusually for
Osikonmaki the high grade portion of the shear zone also ran up to 0.6% copper.
BELOSI 79 also targeted the zone 40 meters further east, but a localized late
granite dyke crosscut the target zone and no mineralization was intersected in
the target area, however some low grade mineralization was intersected in the
bottom part of the hole. BELOSI 81 has now been drilled as a scissor hole into
this area and has successfully intersected the shear zone away from the
localized dyke. Assays are still pending from BELOSI 81.


Mark Burridge, Chairman, comments "The first drillhole of the 2012 drilling
campaign has generated very positive results. It confirms the width and tenor of
the previous holes drilled in the area and, importantly, intersected a large
lower grade area below high grade shear, opening up the potential for a lower
grade bulk tonnage target in the hanging wall of the main shear, improving the
potential economics of potential future mining. The presence of copper also
highlighted the possibility for developing minor by- product credits. Drilling
continues to expand the extent of mineralization and assays are pending from
additional holes drilled recently."




              Table: Significant drill intercepts.              
                                                                
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Hole_id        From(m)     To(m)   Interval(m)    Au g/t      GT
                                                                
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BELOSI078        46.04      65.9         19.86      6.32     126
                                                                
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(including)      46.04     55.61          9.57     10.01      96
                                                                
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BELOSI078        78.37     80.12          1.75      6.00      11
                                                                
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BELOSI078         85.8     87.61          1.81      3.32       9
                                                                
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BELOSI078        98.12     100.3          2.18      2.07       5
                                                                
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BELOSI079        63.37     64.31          0.94      2.27       2
                                                                
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Table 1: Intersections using a 1.0 g/t Au cut-off with a grade thickness greater
than 2 gram metres. No top cut is applied. Maximum grade is 47.8g/t Au over
0.46m, one of five individual samples over 10 g/t Au (0.32 oz/t). Intersections
are estimated to be 70 -90% of true width.




                                                                            
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Hole_id               x         y         z     max_depth    Azimuth     Dip
                                                                            
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BELOSI078       3564360   6883202   117.771         101.5        180      45
                                                                            
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BELOSI079       3564400   6883138   117.345          80.5          0      45
                                                                            
----------------------------------------------------------------------------



Osikonmaki Geology: The Osikonmaki project occurs in a three kilometer long
shear complex, hosted by a Proterozoic aged Tonalitic Intrusion. Most of the
drilling to date has focused on the Eastern 800m of the shear where the
mineralization is primarily associated with a 45 degrees south dipping shear
zone between 4 and 30 m thick. A series of higher grade chutes pitch at shallow
angles across the plane of the main shear, plunging 20 degrees to the ESE
contain the better part of the mineralization and extend for at least 600 m down
plunge. These chutes have been grouped into three principle lode systems the S,
T and U lode systems. The following resources have been outlined on the
Rantasalmi Property to date:




----------------------------------------------------------------------------
                                 Resource                  Gold    Contained
Property            Prospect     Category       Tonnes    Grade         Oz's
----------------------------------------------------------------------------
Rantasalmi   Osikonmaki East    Indicated    1,296,000      1.7       68,000
----------------------------------------------------------------------------
Rantasalmi   Osikonmaki East     Inferred    3,542,000     2.09      244,000
----------------------------------------------------------------------------
Rantasalmi   Osikonmaki West   Historical       90,000     4.86       14,000
----------------------------------------------------------------------------
Rantasalmi            Pirila   Historical      150,000      8.9       43,000
----------------------------------------------------------------------------



The drilling was undertaken by Drillcon SMOY of Finland, providing 42 mm
diameter core. Samples are comprised of half diamond core. Intersections are
estimated to be 70-90% of true width. No top cuts are applied with the highest
individual assay being 47.8 g/t gold over 0.46 metres. Core samples are sawn in
half on site, prepped and assayed by 30g fire assay with an AAS finish at the
internationally accredited laboratories of ALS Chemex in Finland. The quality
assurance-quality control (QAQC) program of Belvedere consists of the insertion
of certified standards of known gold content every 20 samples, with blanks at
the beginning of each batch. In addition, ALS Chemex inserts a number of blanks
and standards into the analytical process. Standards, blanks and duplicates make
up approximately 15% of the samples assayed. The remaining half core is retained
on site for verification and reference purposes.


The resources were previously announced in a press release on 11th October,
2011. An NI 43-101 compliant Technical Report "Mineral Resource Estimate of the
Rantasalmi Gold Project in Finland" filed on SEDAR October 19 th, 2011. The
mineral resource estimate for Osikonmaki East was prepared by Golder Associates
(UK) Ltd under the supervision of Alexandra Akyurek (CSci, MSc MIMMM), acting as
an independent "Qualified Person" as defined by National Instrument 43-101. Mrs
Akyurek is a member of the Institute of Materials, Minerals and Mining (Member
#447670). The Qualified Person has not done sufficient work to classify the
historical estimates at Osikonmaki West and Pirila as current resources under NI
43-101, and suggests that the historical estimates should be considered an
historical reference of tonnes and grade, and not resources. These historical
estimates have not been validated by Golder and no reliance should be placed on
these figures.


About the Joint Venture with Belvedere Resources (TSX VENTURE:BEL)

REBgold Corporation has the right to earn up to a 50% interest in a special
purpose joint venture company which holds the Kiimala and Rantasalmi projects by
contributing expenditures of C$6 million over a 4 year period. If REBgold
proceeds with and completes the feasibility study it will increase its stake in
the projects to between 55% and 75% depending on the level of Belvedere's
contribution to the study. A further 5% can be earned if REBgold's bioleaching
technology can lead t o a material improvement in the project economics.


Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements, which
involve known and unknown risks and uncertainties. Without limitation,
statements regarding future plans and objectives of the Company (including
statements relating to future drill results) are forward-looking statements that
involve various degrees of risk.  It is important to note that the Company's
actual results could differ materially from those in such forward-looking
statements.    


Qualified Person

This news release was reviewed by Pekka Loven, who is acting as Qualified Person
in compliance with National Instrument 43-101 with respect to this release.


About REBgold

REBgold is in the process of acquiring and developing economic interests in gold
assets, in particular, where it can utilize its competitive advantages, to
create shareholder value. The Company's key competitive advantages include an
experienced board and management team, strategic investor backing and
proprietary technology. The Company's bacterial oxidation and bioleaching
technologies are commercially proven for the liberation of precious metals from
difficult-to-treat sulphide ores and concentrates, with environmental and
economic benefits. To date, the Company's BACOX technology has been used at
three gold mines located in Western Australia, Tasmania and China.


Shares outstanding 182,258,486