LAS VEGAS, NEVADA (the "Company"), is pleased to announce that a decision has been made to cancel 40 million restricted shares. This cancellation will reduce the company's outstanding shares from 75,240,000 to 35,240,000, which represents 53% of the issued and outstanding shares.

Mike Wood, President of Raven Gold Corp., commented that, "This action to reduce the company's issued and outstanding shares shows the great commitment level of its shareholders to the future growth of the company."

Further details will be released as they become available.

About La Currita

The La Currita project includes a mine, a 150 tonne/day operating floatation mill and stockpiled ore. The La Currita mine was in steady production from 1983 until 1998. The existing mine holds potential to increase tonnage through systematic exploration. The area surrounding La Currita hosts numerous prospects and adjacent to the La Currita holdings, Palmarejo Gold recently merged with Coeur d'Alene Mines Corporation and Bolnisi Gold NL, in a transaction valued at approximately US$1.1 billion, creating a potential major silver and gold producer.

About Raven Gold Corp.

Raven Gold Corp. is an international gold mining company, with exploration and development projects. Raven's mandate is to initiate an aggressive acquisition policy, focusing on under-explored to advanced stage exploration gold deposits in North and South American countries. Raven is focused on becoming a low cost gold producer.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contacts: Raven Gold Corp. Investor Relations 1-877-31-RAVEN (1-877-317-2836) Email: ir@ravengold.com Website: www.ravengold.com

Raven Gold (CE) (USOTC:RVNG)
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