REBgold Corporation announced today that it has extended the expiry date of $410,000 principal amount of the Company's current outstanding 18% unsecured convertible debentures (the Debentures) and 4,100,000 of the common share purchase warrants (the Warrants) originally issued in October 2010. $430,000 principal amount of Debentures and 4,300,000 Warrants were originally issued in October 2010.

The original maturity date of the Debentures, and the expiry date of the Warrants, was October 13, 2011. Each holder of Debentures and Warrants was offered the choice to either (i) extend the maturity date of the Debentures held by that holder to April 13, 2012, in which case the expiry date of the Warrants held by that holder would also be extended to April 13, 2012, or (ii) accept payment in full of the Debentures on the original maturity date of October 13, 2011, in which case the Warrants held by that holder would also expire on the original expiry date of October 13, 2011. The holder of $20,000 principal amount of the Debentures has elected to be repaid, and the balance of $410,000 principal amount of Debentures were extended and remain outstanding.

As a result of the corporate reorganization by Plan of Arrangement which was completed effective December 2, 2010 involving the Company and BacTech Environmental Corporation (BacTech Environmental), the Debentures are convertible into units (the Units) comprised of one common share of the Company and one-fifth of a common share of BacTech Environmental, at a conversion price of $0.10 per Unit. The Warrants are exercisable for Units at a price of $0.12 per Unit. The conversion price of the Debentures and the exercise price of the Warrants remain unchanged. The extension of the terms of the Debentures and the Warrants is conditional upon acceptance by the TSX Venture Exchange.

REBgold PROFILE

REBgold is in the process of acquiring and developing economic interests in gold assets, in particular, where it can utilize its competitive advantages, to create shareholder value.

The Company's key competitive advantages include an experienced board and management team, strategic investor backing and proprietary technology. The Company's bacterial oxidation and bioleaching technologies are commercially proven for the liberation of precious metals from difficult-to-treat sulphide ores and concentrates, with environmental and economic benefits. To date, the Company's BACOX technology has been used at three gold mines located in Western Australia, Tasmania and China.

Shares outstanding 162,258,486

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.

Contact Information

REBgold Corporation
EJ Spencer
Corporate and Investor Relations Administrator
416-646-1850 X 242
www.reb-gold.com