Recent Drilling Confirms Potential of Osikonmaki West; Geophysics Expands Potential of Osikonmaki East

REBgold Corporation ("REBgold" or the "Company") (TSX VENTURE:RBG) is pleased to
announce the results of the first three drill holes for Phase 2 of the 2012
(Osikonmaki) Drill Program. These holes were drilled to test and expand the gold
mineralization at the Western end of the 3+ km long Osikonmaki shear zone, part
of the Rantasalmi project in Finland. Whereas all of the more recent drilling on
the project has concentrated on the Eastern part of the shear zone, these are
the first drill holes that have been drilled at the Western portion of the shear
zone since its initial identification by the Finnish geological survey in 1988 -
1991. Of the three holes drilled, two returned significant, near surface
intercepts, with BELOSI 93 returning 1.4 g/t over 5.8m and BELOSI 94 returning
1.0 g/t over 7.1m.


In addition to the drilling program, a geophysics program was carried out over
the Eastern end of the shear zone to assist in better delineating the high grade
and bulk tonnage potential defined by previous drilling. The results of the
geophysics program have not yet been fully interpreted but initial indications
are that the geophysical anomalies associated with the mineralized shear zone
continue to extend further to the East. The next phase of drilling will target
this area.


Commenting on the results, Mark Burridge, Chairman, stated, "The results from
the Western end of the shear zone confirm the potential for additional gold
mineralization beyond the Eastern part of the shear zone, while the geophysics
program indicates that the geophysical anomalies extend beyond the current
Eastern limit of the previously identified shear zone. This is of particular
interest as it is on the far Eastern end that the best intercepts of the 2011
and 2012 Drill Programs were encountered."




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Hole_id                 From       To    Interval    Au g/t       GT
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BELOSI093              47.01    52.84        5.83      1.38      8.1
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  including            47.01    49.99        2.98      2.32      6.9
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  including            47.01    47.96        0.95      5.15      4.9
--------------------------------------------------------------------
BELOSI094              30.04    37.15        7.11      0.99      7.1
--------------------------------------------------------------------
  including            30.04    32.16        2.12      1.66      3.5
--------------------------------------------------------------------



Table 1: Intersections using a 0.5 g/t Au cut-off with a grade thickness (GT=
grade x thickness) greater than 1 gram metres. No top cut is applied. Maximum
grade is 5.15 g/t Au over 0.95m, one of six individual samples over 1 g/t Au.
Intersections are estimated to be 70-90% of true width. BELOSI92 returned
anomalous gold values but no significant intercepts.




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HoleID         Easting   Northing    Elevation      Depth   Azimuth      Dip
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BELOSI092      3562040    6883210        107.7      65.35         0       50
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BELOSI093      3561900    6883180        109.6      91.20         0       65
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BELOSI094      3561934    6883212        110.7      49.50         0       60
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                  Table 2: Details of Drill hole Location.                  



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 5.15 g/t gold over 0.95 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 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.


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 drilling and interpreted continuity of the new
mineralised zones) 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

The technical aspects of this statement have been prepared by Dr Toby Strauss
(CGeol), Chief Operating Officer of Belvedere Resources Ltd, who is acting as a
Qualified Person in compliance with National Instrument 43-101 with respect to
this release. Dr Strauss has verified the data supporting this press release.
Verification included checking the data to the original Laboratory certificates,
examining photographs of the core, reviewing sampling procedures and reviewing
the geological interpretation.


About Joint Venture with Belvedere (TSX VENTURE:BEL)

In 2011, REBgold and Belvedere Resources signed an Earn-In Agreement, whereby
REBgold has the right to earn an interest in two of Belvedere's properties,
Kiimala and Rantasalmi. REBgold can earn a 50% interest in the Properties by
making expenditures of CDN $6M in a 4 year period. During the first year,
REBgold spent CDN $1.5M on the Properties. After the earn-in has been completed
a decision as to whether to proceed to a feasibility study will be made and, if
REBgold elects, it will have a period of a further 2 years to complete the
feasibility study. By completing the feasibility study, REBgold's stake would
increase to between 55% and 75%, depending on the level of Belvedere's
contribution to the study. A further 5% interest may be earned through the
contribution of BACOX technology to the Projects. REBgold currently owns 14% of
the projects.


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.


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