San Gold acquires 733,333 Cougar shares
Ticker Symbol: C:SGR C:COU

San Gold acquires 733,333 Cougar shares

San Gold Corp (C:SGR)
Shares Issued 335,260,029
Last Close 11/20/2012 $0.90
Wednesday November 21 2012 - News Release

Also Cougar Minerals Corp (2) (C:COU) News Release

Mr. George Pirie of San Gold reports

SAN GOLD CORPORATION FILES EARLY WARNING REPORT IN RESPECT OF COUGAR MINERALS CORP.

San Gold Corp. has purchased a total of 733,333 units of Cougar Minerals Corp. at a price of 15 cents per unit pursuant to a subscription agreement effective as of Nov. 20, 2012. Each unit comprises one common share of Cougar and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of 15 cents per share for a period of two years from the date of issuance. The units were acquired by the company pursuant to the accredited investor exemption contained in National Instrument 45-106 -- Prospectus and Registration Exemptions.

The common shares and warrants forming part of the units represent approximately 10.82 per cent of the issued and outstanding common shares of Cougar, assuming exercise of the warrants. The acquisition results in the company beneficially owning and controlling an aggregate of 1,733,333 common shares, 733,333 warrants and one million previously issued common share purchase warrants of Cougar. This represents a material change over the one million common shares and one million common share purchase warrants held by the company prior to this transaction. If the company were to exercise all of its outstanding warrants to purchase common shares, the company would own 3,466,666 common shares, representing approximately 22.67 per cent of the issued and outstanding common shares.

The purpose of the company in effecting the transaction was to comply with its requirements pursuant to a property option agreement between the company and Cougar dated June 14, 2011, pursuant to which the company has the option to acquire certain mineral properties of Cougar.

An early warning report in respect of the above-noted transaction will be filed on SEDAR.

We seek Safe Harbor.

© 2012 Canjex Publishing Ltd.