Toronto, Ontario

January 2, 2008

Press Release 01 - 2008

Nayarit Gold Inc. Proposes a Non-Brokered Private Placement of up to $2.2 Million

The Directors of Nayarit Gold Inc. (NYG - TSX.V) are pleased to announce a proposed non-brokered private placement financing of up to $2.2 million comprising the sale of up to 5.5 million Units, sold at $0.40 per Unit, subject to regulatory approval and closing.� Each Unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share for $0.60 in the first year after closing and for $0.70 in the second year after closing.� All securities issued in conjunction with the offering are subject to a hold period, which expires four months after closing.

Proceeds of the financing will be used for exploration activities on the company's mineral properties in Mexico, and for general working purposes.�

Nayarit Gold would also like to announce that Dale M. Hendrick has resigned as a director of the Corporation.� The board of directors wishes to thank Mr. Hendrick for his service.

Nayarit Gold Inc. is a Toronto based junior resource company dedicated to gold exploration in the proven precious metal districts of Mexico. Management's goal is to rapidly build a profitable resource company and maximize shareholder value through successful exploration and aggressive testing of high quality targets.

For further information on Nayarit Gold please visit the company's website at www.nayaritgold.com or contact:

Mr. Colin P. Sutherland

President & CEO

(902) 252-3833

info@nayaritgold.com

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CAUTIONARY STATEMENT

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Nayarit, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Nayarit's expectations are exploration risks detailed herein and from time to time in the filings made by Nayarit with securities regulators.