LRG Lateegra Gold Corp Com

Lateegra Gold Corp. (the "Company") (TSX VENTURE: LRG)(FRANKFURT: LTGB) announces that it has executed a Letter of Intent ("LOI") with a group of prospectors by which it will acquire a 100% undivided interest (subject to an underlying net smelter royalty of 2.0% with an option to purchase 1% for $1 million) in a mineral exploration project known as the "Stoughton Property" located in north eastern Ontario. Pursuant to the terms of the proposed agreement, Lateegra can earn an undivided 100% interest by making cash payments totalling $35,000 and issuing a total of 1.5 million shares over a one year period.

About the Property:

The "Stoughton Property" is located in Stoughton Township, north eastern Ontario, and consists of 18 claims (140 units) covering an area of approximately 22.4 sq. km. The Property cover the southeast portion of Lake Abitibi known as the "Boundary Bay" area, and is located approximately 125 km east of Timmins, Ontario.

The area has an exploration history which dates back to 1891, when gold was first discovered on the Property. A mining camp was established on the claims, and historical sampling returned values of up to 0.17 oz per ton Au in 1907 ($3.40 per ton, gold price at $20.00 in 1907).

In the 1980's, Noranda Exploration Company Limited acquired the Property and conducted ground geophysical surveys, geological mapping, channel sampling and diamond drilling. Channel sampling of a sheared porphyry from a historical pit on what is known as "Island 524" yielded 0.15 oz Au per ton across 16 feet. A follow up drill hole undercut the porphyry shear zone and returned an assay of 0.24 oz Au per ton Au over a core length of 2.5 feet. Based on their exploration work during the 1980's, Noranda identified 2 gold bearing sheared porphyry systems approximately 350m apart. Both porphyry systems intrude mafic and ultramafic rocks with strike lengths of up to 4500 feet. Noranda also noted that the highest gold values from drilling were returned from altered, hematized porphyries with 5 to 35% quartz carbonate veining and mineralized with 2 to 5% disseminated pyrite.

Limited geological mapping and sampling was recently completed by the Property vendors, which revealed widespread hematized porphyries cross cutting mafic and ultramafic rocks. Several channel samples were collected and returned values of up to 1.92 g/t Au over 5 metres. This work was completed this past summer when local water levels were extremely low.

Near term exploration plans on the "Stoughton Property" include airborne magnetics, grid establishment, I.P. (induced polarization) surveying which will be followed by diamond drilling. Exploration is expected to commence late this fall as weather conditions permit.

"Lateegra is pleased with the Stoughton Property acquisition as the Company continues to expand its focus on quality gold projects in the Abitibi region of northern Ontario and Quebec," stated president and CEO Chris Verrico. "We are particularly intrigued with the altered porphyry systems on the Stoughton, as these types of rocks are known to host world class gold deposits in the nearby Timmins Gold Camp."

ON BEHALF OF THE BOARD OF DIRECTORS

Christopher Verrico, President and CEO

Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

"Neither 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 accuracy of this release."

Contacts: Lateegra Gold Corp. Christopher Verrico President and CEO 604-669-9330 or Toll Free: 1-866-669-9377 604-669-9335 (FAX) info@lateegra.com www.lateegra.com