MEDIA RELEASE

15 JANUARY 2010

CARRICK RAISES $18m TO ADVANCE GOLD PROJECTS

WA gold resource developer and explorer Carrick Gold Limited (ASX: CRK) is pleased to advise it has successfully raised $18 million to advance its Kalgoorlie gold projects toward production.

The funds were raised via a share placement to institutional and sophisticated investors in Australia, Asia and the UK. The placement, which closed heavily oversubscribed, included 18 million shares at $1.00 per share, raising $18m before costs. The placement was managed by BGF Equities Pty Ltd.

The funds will be primarily used to advance Carrick?s Lindsay's, Kurnalpi, and Kalpini gold projects ? located north of Kalgoorlie - through the completion of feasibility studies. They will also be used to continue Carrick?s successful exploration and resource expansion program.

Carrick has developed a gold resource of more than 4.1 million ounces, located within 90km of Kalgoorlie.

In September last year, the Company commenced a Pre-Feasibility Study (PFS), conducted by Golder Associates, for an open-pit mining operation at its Lindsay?s, Brilliant, and Kalpini gold projects.

Carrick Chairman Frank Carr said the successful fund raising was a further step toward Carrick?s aim to become an Australian mid-tier gold producer of around 100,000+ ounces per annum.

?We are very pleased with the strong response to the share placement, as a validation of the quality of our assets and our development strategy. We now have well positioned with a strengthened balance sheet to continue to grow and advance our gold projects,? Mr Carr said.

?The Pre-Feasibility Study into the Lindsay?s, Brilliant, and Kalpini gold projects is now well advanced and we expect it to be completed soon. The additional funding will allow use to move forward to the next stage of development, with our goal to progress to production as soon as possible.?

?At the same time, the Company is also continuing its active exploration programmes across its projects, including the recently acquired Kalgoorlie West tenements. To date we have been highly successful in establishing and expanding our significant resource position at a very low discovery cost. The mineralisation at a number of these projects remains open along strike and at depth, and we have funded drill programmes in place to further build our gold inventory, and add additional mineable resources,? Mr Carr said.

For further information please contact

Frank Carr                     Carrick Gold                              08 9225 5544

Warrick Hazeldine          Purple Communications              08 6314 6300

About Carrick Gold Limited

Carrick Gold Limited (?Carrick?) is an ASX-listed (ASX:CRK) gold exploration and development company based in Perth, Western Australia with its projects located within close proximity to the gold-mining town of Kalgoorlie, Western Australia. Carrick?s vision is to deliver exceptional shareholder returns through the discovery, delineation and development of mineable resources.

Carrick?s gold projects are located in the world-renowned WA Goldfields region, within 90km from the major mining services of Kalgoorlie. Since listing on the ASX in January 2005, Carrick has increased its JORC resource base to in excess of 4 million ounces, including the 2.9 million ounce Parrot Feathers deposit at the Lindsay?s project. Carrick?s exploration success has come at a very low cost of only $4 per ounce of gold resource delineated.

Carrick?s goal is to develop a new mining centre on its North Eastern Goldfields tenements and become a successful Australian mid-tier gold producer.

The information in this report which relates to exploration results, mineral resources or ore reserves is based on information compiled by Peter Paterson who is a Member of the Australasian Institute of Mining and Metallurgy with a minimum of five years experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ?Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves. Mr. Paterson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.  Mr. Paterson is an employee of Tarnwood Pty Ltd. and consults to Carrick Gold Ltd.

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