Canadian Warrants

Martin Dallaire, the president of Visible Gold, stated: "We are very pleased with the strong demand for our initial public offering. This investor confidence is a testament to the quality of our gold properties and management team."

Following the closing of the initial public offering, there are 23,994,929 common shares of Visible Gold issued and outstanding.
 
Visible Gold Mines to list on TSX-V July 17
 
2007-07-16 16:21 MT - New Listing
The company's initial public offering prospectus dated July 3, 2007, has been filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the Nova Scotia, New Brunswick, Newfoundland and Labrador, Prince Edward Island, Ontario, Manitoba, Saskatchewan, Alberta, and British Columbia securities commissions and the Autorite des marches financiers effective July 5, 2007, pursuant to the provisions of the Nova Scotia, New Brunswick, Newfoundland and Labrador, Prince Edward Island, Ontario, Manitoba, Saskatchewan, Alberta, British Columbia, and Quebec securities acts. The common shares and share purchase warrants of the company will be listed and admitted to trading on the TSX Venture Exchange, on July 16, 2007.
The gross proceeds to be received by the company for the offering are a minimum of $3.0-million (3,000 units at $1,000 per unit) and a maximum of $5.0-million (5,000 units at $1,000 per unit). Each unit consists of 1,000 flow-through common shares at 50 cents per share, 1,250 common shares at a price of 40 cents per share and 1,125 common share purchase warrants. Each warrant entitles the holder to purchase one common share at 60 cents to July 17, 2009. The company is classified as a mineral exploration/development company.
The company was created as a wholly owned subsidiary of Fieldex Exploration Inc. which transferred all of its interests held in two gold exploration properties located in Quebec. It is expected that a total of 7,439,931 shares of Visible Gold Mines Inc. will be distributed as a dividend to Fieldex shareholders after the listing of Visible Gold Mines Inc.
 
Commencement date:  The common shares and share purchase warrants will commence trading on TSX Venture Exchange at the open Tuesday, July 17, 2007, upon confirmation of closing.
 
The closing of the public offering is scheduled to occur before the market opening on July 17, 2007. A further notice will be issued upon receipt of closing confirmation.
 
Jurisdiction:  Canada
 
Capitalization: A minimum of 18,459,929 common shares and a maximum of 22,959,929 common shares will be issued and outstanding.
Escrow:  1,055,264 shares
Transfer agent:  Computershare Investor Services Inc. (Montreal and Toronto)
 
New symbol:  VGD
Cusip No.:  92834E 10 8
 
Agent:  Desjardins Securities Inc.
 
Capitalization on warrants:  A minimum of 3,375,000 share purchase warrants and a maximum of 5,625,000 share purchase warrants will be issued and outstanding.
 
One share purchase warrant entitles the holder to purchase one common share at 60 cents up to July 17, 2009.
 
Warrant symbol:  VGD.WT
Warrant CUSIP No.:  92834E 11 6
 
Overallotment option:  The company has granted to the agent an overallotment option, which grants to the agent the right, for a period of 60 days following the closing, to issue up to an additional 15 per cent of the units sold as part of the offering, to cover overallotments. If the maximum offering is closed and the overallotment option is exercised in full, the proceeds raised would be $5.75-million.
Agent's fee:  A cash commission of a minimum of $300,000 and a maximum of $500,000 and a non-transferable warrant to acquire a minimum number of 472,500 common shares and a maximum number of 787,500 common shares exercisable at a price of 50 cents per common share for a period of 24 months from the date of the closing.
 
For further information, please refer to the company's prospectus dated July 3, 2007.