LRG Lateegra Gold Corp Com

Lateegra Gold Corp. ("Lateegra" or the "Company") (TSX
VENTURE:LRG)(FRANKFURT:LTGB) announces that it has executed a Letter of Intent
with a group of prospectors by which it can acquire a 51% undivided interest
(subject to an underlying net smelter royalty of 2% with an option to purchase
1% for $1 million) in a mineral exploration project known as the "B-14 Property"
(the "Property"). The Property is located in Beschefer Township, north western
Quebec. Pursuant to the terms of the proposed agreement, Lateegra can earn an
undivided 51% interest by making cash payments totalling $25,000 and issuing a
total of 3,000,000 shares over a one year period.


Lateegra has also entered into a letter of intent with Sea Green Capital Corp.
whereby it can acquire the remaining 49% interest in the Property (subject to an
underlying net smelter royalty of 1% with an option to purchase 0.75% for
$500,000) for a total of $25,000 and 3,000,000 common shares to be paid and
issued to Sea Green.


About the Property

The B-14 Property consists of 33 claims encompassing 5.3 sq km. and located
approximately 2 km southeast of the Broullan Batholith and immediately south of
Balmoral Resources Ltd.'s flagship Fenelon property, the focus of a recent $18
million financing. Further afield and 10 km northwest lays the Selbaie Mine
(previous production of 57.5 million tonnes grading 0.56 g/t Au, 38 g /t Ag,
0.87 % Cu, and 1.85% Zn; MRNQ, DV 2001/01). The Property is underlain by
hematized quartz-feldspar porphyry and albitized quartz diorite which intrude
variably altered intermediate to mafic volcanic rocks. The following is the link
to the map:


http://www.lateegra.com/images/LATEEGRA-BESCHEFER-GEOLOGY-JAN12-2011.jpg

Hosting the gold-mineralized B-14 zone, discovered by Selbaie Mines in 1995,
previous historic drilling results include 3.53 g/t gold over a core length of
28.6 m in hole B-6 drilled by Selbaie Mines Inc., and 4.86 g/t Au over 10 m in
SBJ-06-01 drilled by Seagreen Capital Corporation. The B-14 zone has been traced
over a strike length of 1 km following a volcanic sequence adjacent the
intrusion and along a fault zone identified by Selbaie Mines and Soquem,
extending vertically to a depth of at least 150 m below surface. The diorite
intrusion, being in contact with the mineralized volcanics, is distinctly
altered and contains up to 7.55% Na2O, 2235 ppm strontium and 1675 ppm barium
(Michaud 1997; GM 60445).


Planned near-term exploration on the B-14 Property involves establishing grid
lines, carrying out induced polarization and magnetometer surveys at a 50 meter
line spacing (previous coverage was at a 200 meter spacing), followed by diamond
drilling based on the assessment of the better defined geophysical targets.
Exploration is expected to commence early this winter, as weather conditions
permit.


"Lateegra is pleased to have acquired the B-14 Property representing an
important addition to Company's expanding portfolio of quality gold projects in
the Abitibi region of northern Ontario and Quebec," stated President and CEO
Chris Verrico. "Altered porphyry systems are a feature of all of Lateegra's
projects in Ontario and Quebec, including the DeSantis, Stoughton and Beschferer
projects. Within the Abitibi region, these types of rocks are known to be
associated with world-class gold deposits."


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.

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