Reliant Gold Corp. Grants Probe Mines Limited an Option to Acquire Up to a 70% Interest in Reliant's Borden Lake South Property

TORONTO, ONTARIO -- (Marketwire) -- 03/15/12 -- Reliant Gold Corp. ("Reliant" or the "Company") (TSX VENTURE: REC) is pleased to announce that it has entered into an option agreement (the "Option Agreement") with Probe Mines Limited ("Probe") (TSX VENTURE: PRB) pursuant to which Reliant granted to Probe an option (the "Option") to acquire up to a 70% interest in the Company's 100% owned Borden Lake South Property (the "Property"). The Property is comprised of 20 mining claims representing 294 claim units covering approximately 4,704 hectares and is located 10 kilometres east of the town of Chapleau in Northeastern Ontario and two kilometres south of Probe's Borden Lake gold discovery.

The grant of the Option to Probe is conditional on the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

"This Option Agreement represents a significant milestone in the development of Reliant's Borden Lake South Property," said Mr. Andrew Hara, Reliant's President, Chief Executive Officer and Director. "Our partnership with Probe is strategic and is expected to create shareholder value for Reliant. Probe has demonstrated a track record of success in mineral exploration, gold discovery, and working collaboratively with our First Nations' communities in Chapleau, Ontario. We look forward to working with Probe and its senior management team in carrying out an exploration program at Borden Lake South."

The Option Agreement provides that the consideration required to be paid by Probe to Reliant, the number of common shares of Probe required to be issued to Reliant and the exploration expenditures required to be made by Probe in respect of the Property over a three year period in order to exercise the Option in respect of an initial 60% interest in the Property are as follows:

----------------------------------------------------------------------------
                                                                     Minimum
                                                  Number of      Exploration
Date                                  Cash    Common Shares     Expenditures
----------------------------------------------------------------------------
Upon Receipt of the Approval of
 the TSX Venture Exchange of the
 Option (the "Approval Date")    $  20,000           25,000              Nil
----------------------------------------------------------------------------
On or Prior to the First
 Anniversary of the Approval
 Date                            $  30,000           25,000 $        150,000
----------------------------------------------------------------------------
On or Prior to the Second
 Anniversary of the Approval
 Date                            $  40,000           75,000 $        250,000
----------------------------------------------------------------------------
On or Prior to the Third
 Anniversary of the Approval
 Date                            $  50,000          100,000 $        500,000
----------------------------------------------------------------------------
Total                            $ 140,000          225,000 $        900,000
----------------------------------------------------------------------------

Pursuant to the Option Agreement, Probe has committed to mobilizing a drill and commencing drilling operations at the Property on or before April 15, 2012, but with the understanding of both Probe and Reliant that Probe will have until the first anniversary of the Approval Date to incur the full first year exploration expenditures of $150,000.

Probe will have the right to allow the Option to lapse at any time over the term of the Option Agreement. However, Probe has agreed that the requirements of Probe as set forth in the Option Agreement to: (i) mobilize a drill and commence drilling operations at the Property on or before April 15, 2012; (ii) make a cash payment of $20,000 to Reliant on the Approval Date; (iii) issue 25,000 of its common shares to Reliant on the Approval Date; and (iv) incur Exploration Expenditures in a minimum amount of $150,000 on the Property on or before the first anniversary of the Approval Date, will be treated as firm commitments

In order to exercise its option to increase its interest in the Property to 70%, Probe must:

(i)    provide written notice of such election to Reliant within 30 days
       from the date on which it acquires its 60% interest in the Property
       (the "Acquisition Date") (the date of such written notice being
       hereinafter referred to as the "Election Date");
(ii)   within 60 days of the Acquisition Date, make an additional cash
       payment of $60,000 to Reliant;
(iii)  within 60 days of the Acquisition Date, issue an additional 225,000
       of its common shares to Reliant; and
(iv)   within 18 months of the Election Date, deliver to Reliant a
       feasibility study on the Property prepared in accordance with
       National Instrument 43-101 at the sole cost of Probe.

ABOUT RELIANT

Reliant is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The Company holds: (i) an option to acquire a 100% interest in the MC Dalhousie Property located in northwestern British Columbia, Canada; (ii) an option to acquire a 100% interest in the North Nonacho Property in the vicinity of Nonacho Lake, Northwest Territories, Canada; and (iii) a 100% interest in the Borden Lake South Property, comprised of 20 mining claims representing 294 claim units covering approximately 4,704 hectares, located 10 kilometres east of town of Chapleau, Ontario. The common shares of Reliant trade on the TSX Venture Exchange under the stock symbol "REC".

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Reliant or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Reliant with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in Reliant's prospectus and in other continuous disclosure documents that will be filed by Reliant from time to time with the Ontario Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning Reliant, its prospects and the risks and uncertainties relating to Reliant and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Reliant to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Reliant cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date hereof. Reliant does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or disapproved the contents of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Reliant Gold Corp.
Andrew Hara (Harasimowicz), B.Sc. (Hon.), P.Eng.
President, Chief Executive Officer and Director
[phone]
[phone] (FAX)
[e-mail]