Batero Gold Corp. Announces CDN$10 Million Bought Deal Private Placement
Financing

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, Sept. 24 /CNW/ - Batero Gold Corp. ("Batero" or the "Company") (TSX-V: BAT) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (the "Underwriter"), to sell up to 6,250,000 units (the "Units") on a private placement bought deal basis at a price of CDN$1.60 per Unit for aggregate gross proceeds of CDN$10,000,000 (the "Offering"). Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to subscribe for one additional common share for a period of 24 months from the closing of the Offering at an exercise price of CDN$2.35.

The Company will grant the Underwriter an over-allotment option to purchase up to an additional 3,125,000 Units for additional gross proceeds of up to CDN$5,000,000, exercisable 48 hours prior to the closing of the Offering.

The Company intends to use the net proceeds raised under the Offering for exploration of the Batero-Quinchia Gold Project, Colombia and for general working capital purposes.

The Offering is scheduled to close on or about October 14, 2010 and is subject to certain conditions including, but not limited to, receipt of all required regulatory approvals. The securities issued by Batero in connection with these offerings are subject to a 4-month "hold period" as prescribed by the TSX Venture Exchange and applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    
    ON BEHALF OF THE BOARD OF
    BATERO GOLD CORP.

    "Brandon Rook"

    Brandon Rook
    President & CEO
    

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words expects, plans, anticipates, believes, intends, estimates, projects, potential and similar expressions, or that events or conditions will, would, may, could or should occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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.

For further information: Batero Gold Corp., Tel: [phone] or [email protected]