Cassidy Gold Corp. : Cassidy Gold Closes Second Tranche of Private Placement Offering

 Cassidy Gold Corp. (the "Company" or "Cassidy") announces that, further to its news releases dated October 27, 2011, October 31, 2011 and November 29, 2011, it has closed the second tranche of a non-brokered private placement, this second tranche consisting of 2,155,000 units (the "Units") at a per Unit price of $0.15 for aggregate gross proceeds of $323,250. Each Unit is comprised of one common share in the capital of the Company and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase an additional common share at a price of $0.20 per share until January 3, 2014, subject to accelerated expiry in certain circumstances.

Shares acquired by the placees are, and shares which may be acquired upon the exercise of the share purchase warrants will be, subject to a hold period until May 4, 2012, in accordance with applicable securities legislation. The proceeds of the private placement will be used by the Company for continued business development and for general corporate purposes.

In addition, the Company announces that 5,000,000 unexercised warrants expired on December 15, 2011. Following these transactions, Cassidy now has a total of 49,785,201 issued and outstanding common shares, 3,843,333 options and 7,090,650 warrants, giving a total of 60,719,184 common shares on a fully diluted basis.

Paul Rankine, CEO, commented: "This funding boosts the Company's available cash to approximately $777,000, enabling management to continue rapidly developing the potential of the Kouroussa mine in Guinea, as outlined in the recent strategy update."

An entity having beneficial ownership of, control or direction over, directly or indirectly, securities of the Company carrying more than 10% of the voting rights attached to all the Company's outstanding voting securities participated in this second tranche of the private placement, having purchased 1,000,000 Units, constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25% of the Company's market capitalization.

Contact

Cassidy Gold Corp. [phone]
Paul Rankine
Marion Bush

About Cassidy

Cassidy Gold Corp. is a gold exploration and development company listed on the TSX Venture Exchange (symbol CDX). Cassidy's principal asset is its 100% owned interest, subject to a 15% state participation, in the Kouroussa Gold Exploitation License and the surrounding gold exploration concessions in Guinea, West Africa. Cassidy's mission is to fast-track the development of the Kouroussa mine.

This news release contains certain statements that may be deemed "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 the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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 news release.