Stockworks arranges $800K placement, settles $300K debt

Mr. Nasim Tyab reports STOCKWORKS ANNOUNCES PRIVATE PLACEMENT AND DEBT SETTLEMENT Stockworks Gold Inc. intends to complete a non-brokered private placement financing of up to eight million units at a price of 10 cents per unit for gross proceeds of up to $800,000. Each unit will consist of one common share in the capital of the company and one-half common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the company at an exercise price of 15 cents per share for the first year from the date of issuance and 20 cents per share for the second year from the date of issuance. The company also announces that, subject to the approval of the TSX Venture Exchange, it intends to settle approximately $300,000 in outstanding debt through the issuance of units at a deemed price of 10 cents per unit on the same terms as the private placement. The debt relates to outstanding obligations owing to certain creditors of the company for services previously rendered and advances made to the company. The debt settlement is intended to improve the company's financial position by reducing existing liabilities while preserving cash for working capital and exploration activities. All securities issued pursuant to the private placement and debt settlement will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws and exchange policies. The proceeds of the private placement will be used for general working capital, exploration expenditures and corporate purposes. About Stockworks Gold Inc. Stockworks is a publicly traded junior mining company that trades on the TSX Venture Exchange under the symbol STW. The company is currently focused on its Pirenopolis gold project in Brazil. We seek Safe Harbor.