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Re:   News Release - Thursday, March 24, 2011
      REBgold Signs LOI with Belvedere on the Kiimala and Rantasalmi
      Gold Properties in Finland
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Toronto, Canada, March 24 , 2011 - REBgold Corporation ("REBgold" or
the "Company", TSX.V: RBG) is pleased to announce that the Company has
signed a Letter of Intent ("LOI") with Belvedere Resources Finland oy
("BelFin"), a wholly-owned subsidiary of Belvedere Resources
("Belvedere", TSX.V:BEL) for REBgold to earn an interest in two of
BelFin's gold properties in Central Finland, the Kiimala and Rantasalmi
properties (the "Properties").

Mark Burridge, Chairman of REBgold, commented "These are gold projects
with significant upside potential that may be further enhanced by the
use of our technology. We look forward to working with Belvedere, a
company that has a strong track record in Finland, a country that is
recognized as a good jurisdiction for mining investment."

The Properties contain drilled deposits with Indicated and Inferred
Resources along with a number of surface gold occurrences. On both
properties the gold occurrences are associated with 2nd order splays
off large shear zones, and subcrop over strike lengths of 3 to 20
kilometers.

The mineral resources, which have previously been reported by Belvedere
(information of which can be found on their website and Sedar filings)
will be reviewed, updated and reported by REBgold as information is
developed over the next few months.

The LOI creates a binding obligation on the parties to negotiate the
necessary agreements in good faith and sets out the framework for the
Earn-In Agreement, subject to certain conditions being met, including
due diligence procedures.  The LOI calls for an initial cash payment of
CDN $100,000 to BelFin once the formal documents have been executed.
REBgold can earn a 50% interest in the Properties by making
expenditures of CDN $6M in a 4 year period.  During the first year,
REBgold must spend a minimum of CDN $1.5M on the Properties. After the
earn-in has been completed a decision as to whether to proceed to a
feasibility study will be made and, if REBgold elects, it will have a
period of a further 2 years to complete the feasibility study. By
completing the feasibility study, REBgold's stake would increase to
between 55% and 75%, depending on the level of BelFin's contribution to
the study. A further 5% interest may be earned through the contribution
of BACOX technology to the Projects.

The completion of this transaction is subject to a number of conditions
including regulatory approvals. This transaction is expected to close
within 3 months, subject to due diligence and definitive documentation.

The Kiimala Property consists of 7.8 km2 of contiguous claims and claim
applications with at least seven drilled gold occurrences (K1 -- K7)
occurring from surface. Only the K1 (�ngesneva) occurrence has been
followed up with sufficient drilling to delineate an NI 43-101
compliant resource. Further targets beyond the drilled occurrences
exist on the property.

The Rantasalmi Property consists of 10.1 km2 of claims and claim
applications and contains both the Osikonm�ki and Piril� gold
occurrences. The Osikonm�ki East and West gold mineralizations lie at
either end of the 3km long Osikonm�ki shear, which remains open and
unexplored in both directions along strike, and down dip. All recent
drilling has focused on the Osikonm�ki East mineralization, and a 3000
meter drill program is currently underway on the property. Further
targets and parallel shear zones remain to be tested on the property.

Forward Looking Statement:
Some of the statements contained herein may be forward-looking
statements, which involve known and unknown risks and uncertainties.
Without limitation, statements regarding future plans and objectives of
the Company are forward-looking statements that involve various degrees
of risk. It is important to note that the Company's actual results
could differ materially from those in such forward-looking statements.

REBgold PROFILE

REBgold is in the process of acquiring and developing economic
interests in gold assets, in particular, where it can utilize its
competitive advantages, to create shareholder value.

The Company's key competitive advantages include an experienced board
and management team, strategic investor backing and proprietary
technology. The Company's bacterial oxidation and bioleaching
technologies are commercially proven for the liberation of precious
metals from difficult-to-treat sulphide ores and concentrates, with
environmental and economic benefits. To date, the Company's BACOX
technology has been used at three gold mines located in Western
Australia, Tasmania and China.

For further information contact:

EJ Spencer
Corporate and Investor Relations Administrator
416-646-1850 X 242

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Copyright (c) 2011 REBGOLD CORPORATION (RBG)  All rights reserved.  For
more information visit our website at http://www.reb-gold.com/ or send
mailto:info@reb-gold.com
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