Batero Gold Corp. Announces Increase to Previous Bought Deal Private Placement Equity Financing

Batero Gold Corp. ("Batero" or the "Company") (TSX-V: BAT) is pleased to announce that, in connection with its previously announced private placement unit offering (the "Offering") led by Canaccord Genuity Corp. (the "Underwriter"), it has increased the size of the Offering from C$6,300,000 to C$7,245,000.

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