VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2010) - Taku Gold Corp. (TSX VENTURE:TAK) (the "Company") is pleased to announce the closing of its brokered private placement (the "Offering") for gross proceeds totalling $3,450,000, completed through Union Securities Ltd. (the "Agent"). These funds were raised through the issue by the Company of: (i) 13,240,000 units ("Units") at a price of $0.15 per Unit (for gross proceeds of $1,986,000), each Unit consisting of one common share and one common share purchase warrant ("Warrant") entitling the holder to purchase one additional common share (a "Warrant Share") of the Company at a price of $0.25 until July 16, 2012; and (ii) 9,760,000 flow-through units ("FT Units") at a price of $0.15 per FT Unit (for additional gross proceeds of $1,464,000), each FT Unit consisting of one flow-through common share and one-half of one Warrant, of which one whole Warrant entitles the holder to purchase one Warrant Share at a price of $0.25 until July 16, 2012.

A commission of $276,000 was paid by the Company to the Agent as consideration for arranging the Offering. The Company also issued agent's options ("Agent's Option"), which entitles the Agent to purchase up to 2,300,000 units ("Agent's Units") of the Company at a price of $0.15 per Agent's Unit until July 16, 2012. Each Agent's Unit consists of one common share and one common share purchase warrant (the "Agent's Warrant") entitling the Agent to purchase one additional common share of the Company at a price of $0.25 until July 16, 2012.

The securities issued pursuant to the Offering, and any common shares to be issued upon the exercise of the Warrants, Agent's Option and Agent's Warrants, are subject to a hold period expiring November 17, 2010. Completion of the Offering is subject to receipt by the Company of all necessary regulatory approvals.

On Behalf of the Board,

Taku Gold Corp.

Zachery Dingsdale, CEO and President

Statements in this release that are forward-looking are subject to various risks and uncertainties as identified above and in the Company's periodic filings with the British Columbia Securities Commission and the U.S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.