News Release

Golden Tag Completes $3 Million Financing

MONTREAL, QUEBEC – Golden Tag Resources Ltd. (TSX VENTURE:GOG) (the “Company“) announces that further to their news release dated November 12, 2010, the Company has now completed the previously announced financing of 6 million units (“Unit”), each Unit consisting of a common share (“Share”) and two-year purchase warrant (the “Warrant”) exercisable at $0.60 and $0.70 per Share. PowerOne Capital Markets Limited was instrumental in completion of the placement and received a customary cash commission and 500,000 finder’s warrants exercisable into Units.

All securities issued in connection with the private placement are subject to a four month hold period expiring on March 31, 2011. The funds from the private placements will be used for exploration and general corporate purposes.

Golden Tag Resources Ltd. is a junior exploration company exploring for high grade gold and silver deposits at the San Diego silver project in Durango State, Mexico; the Aquilon Gold project in James Bay, Quebec; and the McCuaig gold project in Red Lake, Ontario. Golden Tag, after including the announced financing, will now have 45,770,958 issued and outstanding shares.

Statements in the release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact

Golden Tag Resources Ltd.
Marc A Carrier
514-426-8543 (FAX)