Glencairn Reports Talavera Southwest Drill Results at Limon.

TORONTO -- Glencairn Gold Corporation (TSX:GGG) is pleased to announce results of continuing exploration drilling along the southwestern projection of the Talavera vein system at its Limon Mine concession in Nicaragua.

"Holes 3300 and 3301 from this program, along with holes 3235 and 3211 drilled last year on the Victoria Zone, clearly show the prospectivity of this Talavera Southwest Extension area, which is very close to our existing mine workings and infrastructure," said President and CEO Kerry Knoll. "Glencairn plans to continue drilling off this zone through the first half of this year with the goal of significantly adding to Talavera reserves."

Two holes drilled on separate vein trends encountered encouraging results as disclosed below.

Core           Gold      True
Hole #       From - To     Length     Grade (g/t)    Width       Zone
               (metres)   (metres)        (uncut)  (metres)

3300    42.00 -  42.50       0.50          21.33       N/A
       203.91 - 207.40       3.49           4.29       2.3       TIII
       210.67 - 215.29       4.62           7.59       2.6       TIII
       315.78 - 317.52       1.74          44.41       N/A
       336.55 - 337.97       1.42          76.11       N/A
3301   296.70 - 306.27       9.57          18.80       7.3   Talavera

To view map, please click here. http://www2.ccnmatthews.com/database/fax/2000/glen0204.pdf

The gold grades over the reported intervals are reasonably consistent within each interval and are reported as uncut for this early exploration stage. A preliminary estimate of true width has been made for the intervals that appear to correlate with known veins. Drilling continues with three rigs.

The intersections grading 4.29 grams per tonne (g/t) over 2.3 metres and 7.59 g/t over 2.6 metres true widths in hole #3300 appear to be the western strike continuation of the TIII vein identified in 2004. This new intercept correlates with a 11.9 g/t gold intercept over 2.2 metre true width in hole #3174 located 180 m to the east and with a 12.9 g/t gold intercept over 0.75 metres true width in hole 3263 located 60 metres to the west. Wide-spaced drilling to date indicates encouraging gold mineralization for at least 400 metres along strike and with a 90-metre vertical interval. Active mine workings are located 150 metres north of the eastern portion of TIII. A program of close-spaced drilling has been initiated with the objective of outlining a mineral resource for TIII.

The two deeper high-grade gold intercepts in hole #3300 (44.4 g/t over 1.74 metres and 76.1 g/t over 1.42 metres) appear to be spatially associated with the Victoria Zone gold mineralization. As previously reported in a news release dated January 17, 2005, follow-up drilling at the Victoria Zone has proven challenging because of complex local post-mineralization faulting. A re-interpretation and evaluation of the drill information from the Victoria Zone is underway in order to guide future work.

The 7.3 metre true width, 18.8 g/t high-grade gold intercept in hole #3301 appears to be on strike with the projection of the main Talavera Sur high-grade vein located 375 metres to the northeast. Two widely spaced fences of previously completed holes between the Talavera Vein and hole #3301 did not intercept any significant mineralization. This new vein intercept remains open to the southwest. Follow-up drilling on hole #3301 is in progress.

Further southwest and about 200 metres along strike of hole #3301 and the main Talavera Sur vein projection, drilling has been started to explore beneath a 600-metre-long ridge of high-level (shallow) silicification, hydrothermal breccias and clay alteration that indicates the potential for hidden gold-bearing veins at depth. The Victoria Zone discovery lies on the northern flank of this ridge of alteration, at its eastern end, and clearly demonstrates the prospectivity of this trend.

The Limon Mine has been in continuous production since 1941, producing almost three million ounces of gold. During that time ore has been extracted from three distinct zones or vein systems, each zone producing about one million ounces. Talavera, the site of current underground mining operations, is 4.5 km west of the Limon mill.

Sampling, Assaying and Quality Control

Samples are taken as half of the sawn core. The Company's on-site Limon Mine laboratory is used for sample preparation and assaying. None of the gold assays reported above have been cut.

The Limon Mine laboratory uses normal industry procedures. A separate crushing and pulverizing circuit is reserved for, and was used for, these exploration samples. Core samples were crushed to pass 10-mesh-size sieve, a 1/4 split was then pulverized to have greater than 90% pass the 200-mesh-sized sieve to produce a 100 gram homogenized sub-sample. The Limon laboratory uses a one-assay ton aliquot (a 29.2 gram sub-sample) for fire assaying with a gravimetric finish to determine gold concentration.

Internal quality control programs include the use of blanks, duplicates, standards and internal check assaying. External check assays are routinely performed at ACME Analytical Laboratories of Vancouver, B.C., Canada, with check samples submitted independently by the exploration group and the lab manager. External check assays of the specific data reported herein for the new holes are pending preparation of duplicates samples and shipment to Canada.

Qualified Person

Michael Gareau, P. Geo. and Vice President of Exploration for Glencairn, is the Qualified Person as defined by National Instrument 43-101. The drilling program is being conducted under Mr. Gareau's supervision. The laboratory certificates and the results reported herein were reviewed and verified by Mr. Gareau. Mr. Gareau has read and approved this news release.

To find out more about Glencairn Gold Corporation (TSX:GGG), visit our website at www.glencairngold.com.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Glencairn Gold Corporation (TSX:GGG)