SG Spirit Gold Changes Date for Special Meeting of Shareholders

SG Spirit Gold Inc. (TSX VENTURE:SG) ("SG Spirit Gold" or the "Company")
announces that the Company is moving the date of the special meeting of
shareholders of SG Spirit Gold ("Special Meeting") from March 26th, 2012 to
April 11th, 2012 at 10.00 a.m. (Pacific Standard Time). The date of the Special
Meeting has been moved to a later date in order to allow more time for
regulatory review and approval of the information circular prior to mailing to
shareholders. The Special Meeting is to consider the approval of the proposed
transaction to acquire 100% ownership of the Buchans and Tulks North properties
from Buchans Minerals Corporation and a 100% interest in the Bobby's Pond base
metals deposit from Mountain Lake Resources Inc. A notice of Special Meeting,
joint information circular of SG Spirit Gold and Buchans Minerals and proxy
materials will be mailed to SG Spirit Gold shareholders in connection with the
Special Meeting. Buchans Minerals Corporation will also be moving the date of
its special shareholder meeting to vote for the approval of the Transaction to
April 11th, 2012. Further details regarding the proposed transaction are
contained in the Company's news releases dated December 13, 2011, January 26,
2012 and February 6, 2012.


About SG Spirit Gold: 

SG Spirit Gold is a Vancouver-based resource company in the business of
acquiring and advancing Canadian mineral properties prospective for precious
metals and base metals. The Company's management team and Board have extensive
experience and success in the resource industry. Upon completion of the
Transaction, the Company intends to change its name to Regiment Zinc Corp. to
properly reflect its base metal focus.


SG Spirit Gold is led by Forbes West, in association with Forbes & Manhattan.
Forbes West, formerly known as the Exploration Group, is a Vancouver-based
mining services company established by Mr. Mark Morabito. Forbes West provides
administrative, management, geological, regulatory, tax, corporate development
and investor relations services to mining companies throughout North America.
Forbes West specializes in identifying, funding, developing and managing
resource-based opportunities, with a special interest on the junior mining
sector. With an office that is fully Sarbanes-Oxley compliant, Forbes West is
vertically integrated with in-house geology, legal and corporate finance
departments. Forbes West is focused on enhancing value to its growing portfolio
of noteworthy public mining companies including SG Spirit Gold Inc., Alderon
Iron Ore Corp., Crosshair Energy Corporation, Excelsior Mining Corp., Logan
Resources Ltd. and Ridgemont Iron Ore Corp.


ON BEHALF OF THE SG BOARD

Adrian Bray, President & CEO

Cautionary Note Regarding Forward-Looking Statements

Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements are
statements that relate to future, not past, events. In this context,
forward-looking statements often address expected future business and financial
performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other similar
expressions. All statements, other than statements of historical fact, included
herein including, without limitation; statements about the terms and completion
of the transaction and the potential of the properties are forward-looking
statements. By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include, among others,
the following risks: the need for additional financing; operational risks
associated with mineral exploration; requirement to obtain shareholder approval;
failure to execute the Definitive Agreements; fluctuations in commodity prices;
title matters; environmental liability claims and insurance; reliance on key
personnel; the potential for conflicts of interest among certain officers,
directors or promoters with certain other projects; the absence of dividends;
competition; dilution; the volatility of our common share price and volume and
the additional risks identified in the management discussion and analysis
section of our interim and most recent annual financial statement or other
reports and filings with the Exchange and applicable Canadian securities
regulations. Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date that statements are made and SG Spirit Gold
Inc. undertakes no obligation to update forward-looking statements if these
beliefs, estimates and opinions or other circumstances should change, except as
required by applicable securities laws. Investors are cautioned against
attributing undue certainty to forward-looking statements.
SG Spirit Gold Inc. (TSXV:SG)
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