Batero Gold Corp. Announces C$6.3 Million Bought Deal Private Placement Equity Financing

Batero Gold Corp. ("Batero" or the "Company") (TSX-V: BAT) is pleased to announce that it has entered into an agreement with CanaccordGenuity Corp. (the "Underwriter"), to sell up to 3,000,000 units (the "Units") on a private placement bought deal basis at a price of C$2.10 per Unit for aggregate gross proceeds of C$6,300,000 (the "Offering").

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 commission 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.

The Offering is scheduled to close on or about November 24, 2011 and is subject to certain conditions including, but not limited to, receipt of all required regulatory approvals. The securities issued by Batero in connection with this Offering are subject to a four month "hold period" as prescribed by the TSX Venture Exchange and applicable securities laws.

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

Batero Gold Corp.