Batero Gold Corp. Announces Closing of C$7.2 Million Bought Deal Private Placement Equity Financing

British Columbia - Batero Gold Corp. ("Batero" or the "Company") (TSX-V: BAT) is pleased to announce that it has closed the private placement equity financing previously announced on November 4, 2011 (the "Offering") with Canaccord Genuity Corp. (the "Underwriter"). The Company has issued 3,450,000 units at a price of $2.10 per unit for gross proceeds of $7,245,000.

Each Unit shall consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of C$2.45.

The Underwriter will receive a cash fee on the sale of the Units equal to 6% of the gross proceeds raised and broker warrants ("Broker Warrants") equal to 6% of the Units issued pursuant to the Offering. Each Broker Warrant shall be exercisable for one common share of the Company at a price of C$2.45 at any time up to 24 months after closing.

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.

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