News

February 08, 2013

New Carolin Gold Amends Amount Received in a Non-Brokered Private Placement of Flow-Through Shares

Pursuant to the Company's press release dated January 22, 2013 announcing that the TSX Venture Exchange had given final acceptance for a non-brokered private placement of flow-through shares, New Carolin Gold Corp. (TSX - V: LAD) wishes to amend the amount received in this financing. The Company received C$243,010 (previously reported $226,510) including C$22,000 from a director of the Company, corresponding to the issuance of 2,209,182 shares (previously reported 2,059,182 shares) at a price of C$0.11 per flow-through share. The private placement closed on December 31, 2012.

The Company paid finder's fees in respect of certain investors introduced to the Company of C$13,121 in cash.

All of the securities issued under this private placement will be subject to a four-month hold period.

The proceeds from the sale of the flow-through shares will be used to incur Canadian Exploration Expense ("CEE"), as defined in the Income Tax Act (Canada). The Company will renounce such CEE to the subscribers effective for the 2012 tax year. The funds will be used for exploration on the Company's Ladner Gold Property in southwestern British Columbia.

About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior mineral exploration and development company engaged in the acquisition, exploration, evaluation and development of 144 sq kms of contiguous mineral claims, collectively known as the Ladner Gold Project, located along the prospective and under-explored Coquihalla Gold Belt located in southwestern British Columbia, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.

For further Company and technical information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Bruce W. Downing"
Bruce W. Downing, M.Sc., P.Geo., Hon.FEC
President & Chief Executive Officer
Phone 778 - 294 - 3211
Email ceo@newcarolingold.com
Website www.newcarolingold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this press release. We seek Safe Harbor.

Not for distribution in the United States.

Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.