REBgold Mobilizes Drill Rig and Closes First Tranche of Private Placement

REBgold Corporation ("REBgold" or the "Company") (TSX VENTURE:RBG) is pleased to
announce that the Drill Rig has been mobilized at the Osikonmaki Property at its
JV in Finland. Drilling will commence in June 2012.


The drilling program, of up to 1000m will target further extensions to the
mineralization at Osikonmaki. A geophysics program will also be considered to
refine the drilling targets in the Eastern portion of the system where high
grade and bulk tonnage potential was extended during the last drilling campaign.


The Company also announces that it has closed the first tranche of its
non-brokered private placement announced on May 8, 2012, for total gross
proceeds of $780,000.


Effective May 30, 2012, REBgold issued 1,950,000 units at $0.40 per unit. Each
unit consists of one common share (after giving effect to the 10 for 1 share
consolidation which became effective May 30, 2012) and one common share purchase
warrant. Each warrant entitles the holder to purchase one additional common
share at $1.00 until November 10, 2016. All securities issued pursuant to the
first tranche of the private placement, including the common shares issuable
upon exercise of the warrants, are subject to a four-month hold period that
expires October 1, 2012.


Proceeds of the Private Placement will be used for another phase of drilling at
the Osikonmaki Property in Finland and for general business development and
working capital purposes.


REBgold has received interest for additional funding from existing and new
investors and may close further tranches of the private placement until June 22,
2012.


Finally, the Company announces that effective May 30, 2012, REBgold and Investor
Cubed Inc. have mutually agreed to terminate the Investor Relations Agreement
signed by the parties on October 10, 2011.


REBgold PROFILE

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 18,225,849