Dawson Gold Corp

Thursday, September 30th, 2010

Dawson Gold to Complete $2.48-million Private Placement

News Release

Mr. Bijay Singh reports

DAWSON GOLD ANNOUNCES UPDATE ON PRIVATE PLACEMENT

Dawson Gold Corp. has received subscriptions to purchase 16,578,829 units of the company at a price of 15 cents per unit for gross proceeds of $2,486,824. The company increased the size of the offering from up to eight million units (announced in Stockwatch on Aug. 20, 2010) due to strong demand.

Each unit offered consists of one share and one share purchase warrant, with each warrant exercisable to acquire an additional share at a price of 25 cents for a period of 12 months from the closing date and at a price of 35 cents for the subsequent six-month period. The company will pay finders fees in connection with the offering.

The private placement will close concurrently with the closing of the qualifying transaction with 0851045 B.C. Ltd. The private placement and the qualifying transaction remain subject to the acceptance of the TSX Venture Exchange.