Cortez Gold : Arranges Private Placement

Vancouver, British Columbia - Cortez Gold Corp (TSXV:CUT) ("Cortez" or the "Company") announces that it has arranged a non-brokered private placement of 340,000 units (the "Units") at a price of $0.50 per Unit, for gross proceeds of $170,000.

Each Unit will consist of one common share of the Company and one-half of one share purchase warrant (a "Warrant") with each whole Warrant entitling the holder thereof to acquire an additional common share of the Company for a period of two years at a price of $0.75 per share. The Company may choose to accelerate the expiry date of the Warrants if the Company's shares on the TSX Venture Exchange close at a minimum of $1.00 for a period of 20 consecutive trading days.

The net proceeds of the private placement will be added to working capital.

An 8% finder's fee will apply in this transaction in accordance with the policies of the Exchange. The private placement is subject to Exchange acceptance. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.

ON BEHALF OF THE BOARD
of Cortez Gold Corp.

(sgd.) "Robert Eadie"
Robert Eadie, President

For further information please contact:
Robert Eadie, President
Cortez Gold Corp.
Suite 750, 580 Hornby Street, Box 113
Vancouver, British Columbia V6C 3B6
Tel: [phone] • Fax: [phone]
Email: [e-mail]

Neither the 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.