SUTTER GOLD CLOSES FINAL TRANCHE ON NON-BROKERED PRIVATE PLACEMENT

Sutter Gold Mining Inc. (SGM:TSX-V) (SGMNF:OTCQX)  (�Sutter� or the �Company�) announces that, further to its news releases dated January 4, 2013, December 28, 2012, November 14, 2012 and October 18, 2012, the Company has completed the second and final tranche of a non-brokered private placement (the �Private Placement�) of an aggregate of 506,634 common shares at a price of US$0.30 per common share for gross proceeds of USD$151,990.20. 
 
All common shares issued pursuant to the Private Placement are subject to a four-month hold period expiring May 16, 2013. Completion of the Private Placement is subject to the approval of the TSX Venture Exchange. Sutter will apply the net proceeds from the Private Placement towards continued advancement of the Lincoln Mine project and general working capital purposes.

About Sutter Gold Mining Inc.

 
Sutter is a near-term gold producer, building Phase One of the new Lincoln Mine Project in the historic California Mother Lode. Ramp-up to full production is planned in the first half of 2013.  The Lincoln-Comet and Keystone zones have a NI 43-101 compliant Indicated Resource estimate (completed in February 2008) of 612,400 tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing 223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes (2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton) containing 458,900 ounces of gold.
 
Sutter currently controls approximately 4.6 miles of the Mother Lode of Amador County, with 90% of the property still unexplored. Potential exists both at depth and along strike of the known mineralized zones on both the footwall and hanging wall. The 120-mile long Mother Lode Gold Belt produced over 13 million ounces of gold historically with 7.9 million ounces originating from the 10-mile long segment between Jackson and Plymouth where the Lincoln Project is strategically located. Properties under the Company�s control include seven historic mines with significant historic gold production totaling over 3.5 million ounces or 27% of the historic gold production from the Mother Lode.  Historic mines located north and south of the Lincoln Project in the Jackson to Plymouth segment of the Mother Lode success fully mined gold to depths of 4,500 and 6,300 feet, respectively.
 
In Mexico, Sutter holds the rights to the geologically similar, high-grade El Alamo district of northern Baja, where historic mining to the water table produced mined grades of 30 to 60 g/t gold. Initial exploration with its joint-venture partner, Premier Gold, has demonstrated the extension of high-grade veins.