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CARSON GOLD ANNOUNCES PRIVATE PLACEMENT OF UP TO 3 MILLION UNITS; VENEZUELAN GOLDFIELDS LTD. TO BECOME FINANCIAL AND TECHNICAL ADVISER

 VANCOUVER, British Columbia, Feb. 2 /PRNewswire/ -- Carson Gold Corp. ("Carson") (Vancouver: CQG) announced proposed private placement of a maximum of 3,000,000 units at a price of $2.04 per unit. Each unit consists of one common share and one non- transferable share purchase warrant. Each warrant will entitle the holder to purchase one common share of Carson for a period of two years at a price of $2.04 per share during the first year and $2.35 per share during the second year.
 Up to 2,500,000 units of the private placement will be brokered through Yorkton Securities Inc. and Gordon Capital Corp. Venezuelan Goldfields Ltd. ("Vengold") (Vancouver: VZG) has the right to subscribe for up to 2,500,000 units of the brokered private placement, and will be allowed to nominate three members to Carson's board, which will be composed of six directors upon the completion of the private placement. A negotiated commission will be paid in relation to the transaction. The proposed private placement is subject to the receipt of regulatory and shareholder approval.
 Carson has been actively involved in the acquisition and development of mineral properties in Venezuela since 1990. Carson's management team has successfully assembled and continues to acquire significant land positions within the Kilometer 88 Mining District. Vengold brings to Carson extensive technical expertise and an international financial network.
 An agreement, subject to Vengold and Carson board approval, currently exists between the two companies whereby any mineral exploration properties acquired by Carson in the Kilometer 88 Mining District of Venezuela are joint ventured with Vengold, initially on a 60/40 basis, with Vengold having the right to increase its interest in all such properties to 70 percent upon certain terms.
 Eric V. Friedland will immediately join the board of Carson, replacing Ian Brodie, and upon closing of the private placement will assume the position of chairman and chief executive officer. Friedland, previously with Fairbanks Gold Ltd., is a geophysical and geological engineering graduate of the Colorado School of Mines.
 Carson has also agreed to grant a stock option to Friedland exercisable for 285,000 common shares of Carson at a price of $2.40 per share for a term of five years.
 Carson and Vengold will be making further announcements regarding additional acquisitions in the Kilometer 88 Mining District when appropriate.
 The common shares of Venezuelan Goldfields Ltd. trade on the Vancouver Stock Exchange under the symbol "VZG" and the common shares of Carson Gold Corp. trade on the Vancouver Stock Exchange under the symbol "CQG".
 -0- 2/2/93
 /CONTACT: Robert L. Cook, president of Venezuelan Goldfields, 604-688-7166, or P. Randy Reifel, president of Carson Gold, 604-731-1094/
 (VZG. CQG.)


CO: Venezuelan Goldfields Ltd.; Carson Gold Corp. ST: British Columbia IN: SU:

KJ -- LA031 -- 2152 02/02/93 19:20 EST
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Publication:PR Newswire
Date:Feb 2, 1993
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