Mr. George Young reports

RCG ANNOUNCES PROPOSED PRIVATE PLACEMENT INCLUDING INVESTMENT BY ERIC SPROTT

Resource Capital Gold Corp. has finalized the terms and conditions of a proposed non-brokered equity private placement. The offering will consist of the issuance of up to 25 million units at a price of 20 cents per unit for aggregate gross proceeds to the company of up to $5-million. Each unit will comprise one common share in the capital of the company and one whole common share purchase warrant. Each warrant will be exercisable to purchase one additional common share at price of 30 cents per common share for a period of 24 months from the closing date of the offering.

The common shares and warrants issuable pursuant to the offering will be subject to a hold period expiring four months and one day following the closing of the offering.

The company is also is pleased to announce that it has been informed that Eric Sprott (or his designated nominee) has agreed to participate in the offering.

The company may pay finders' fees to certain persons in connection with the offering, consisting of either cash, securities, or both cash and securities.

The company intends to use the proceeds of the private placement to complete the purchase of the Forest Hill and Tangier mines and other mineral properties, as well as for working capital and other general corporate purposes.

The offering is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

We seek Safe Harbor.