Randsburg Signs Memorandum of Understanding on Flett Project

Randsburg International Gold Corporation (TSX VENTURE:RGZ) announced today that
it has signed a Memorandum of Understanding ("MOU") with respect to its Flett
Project located in Flett Township in Northern Ontario. Randsburg holds a 100%
interest, subject to a 3% NSR, in 10 claims located in Flett Township covering
approximately 5,440 acres contiguous to the Company's 20% owned Titan
Iron-Titanium Vanadium Project. Flett Township is located 120 kilometres
northeast of Sudbury, Ontario and 50 kilometres north of the City of North Bay.
The Flett project is prospective for iron, titanium, nickel and platinum group
metals (PGM).


The MOU was signed with Gloss Gold Investments Limited ("Gloss Gold"), a private
company located in Markham, Ontario. Gloss Gold is controlled by an investor
group based in Hong Kong and China. Under the terms of the MOU which is subject
to a due diligence period of 45 days and a definitive agreement, Gloss Gold can
obtain an 80% interest in the project by paying Randsburg $50,000 upon signing
of the definitive agreement, payments totaling $90,000 the first year and
$25,000 per month thereafter up to $2 million. On the earlier of Gloss Gold
obtaining a mining license or transferring its interest in the property or
December 31, 2013, the balance of the payment must be made either in cash or
shares of the acquiring company at the option of Randsburg. Gloss Gold agrees to
undertake a feasibility study within 2 years, spend a minimum of $200,000 on
exploration and development by June 30, 2012, including completing a geophysical
survey and a drill program of at least 1,000 metres by June 30, 2012; and in
addition, spend a minimum of $200,000 on exploration and development per year
after July 31, 2012. Should the project be placed into production Gloss Gold
shall cover all costs up to $100 million in respect of the construction of a
mine and plant. Gloss Gold will be the Operator. 


The Companies are forming an alliance to advance Flett and to pursue other
mining projects. "We are pleased to be working with Gloss Gold on the Flett
project," stated Michael Opara, President of Randsburg. "Gloss Gold has a
business team with considerable experience in the Hong Kong and Chinese capital
markets and we look forward to advancing this and potentially other projects
with them."


On behalf of the Board of Directors of

Randsburg International Gold Corp.

Michael Opara, President and Chief Executive Officer 

Copyright, 2011 - Randsburg International Gold Corporation. This news release
can be reproduced and retransmitted in whole, with no changes permitted of any
kind, including headlines, or the addition of any headlines or other material,
and providing it is supplied and made available without charge to the end
reader.

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