VISIBLE GOLD MINES INCREASES SIZE OF PRIVATE PLACEMENT TO MAXIMUM $4.8
MILLION

ROUYN-NORANDA, QC, Sept. 15 /CNW Telbec/ - Visible Gold Mines Inc. (VGD :TSXV and 3V4:FRANKFURT) announces that it will increase the size of its previously-announced private placement to $4.8 million from $3.84 million, by issuing a maximum of 15 million units rather than 12 million units. As previously announced, each unit will be issued at a price of $0.32 and comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of Visible Gold Mines at a price of $0.45 for a period of one year following the closing of the private placement.

Closing of the private placement is expected to occur on or about October 13, 2010.

The private placement, as increased in size, is subject to regulatory approval, including that of the TSX Venture Exchange. The shares and warrants to be issued in the private placement will be subject to a four-month "hold period" under applicable securities legislation.

About Visible Gold Mines Inc.

Visible Gold Mines is a corporation focused on gold in the prolific Abitibi Gold Belt in Canada. The Corporation has 25,869,929 common shares issued and outstanding.

Neither 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 the release.

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For further information: Martin Dallaire, President and Chief Executive Officer, Telephone: [phone], Fax: [phone], E-mail: [email protected]; Website: www.visiblegoldmines.com