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Desafio Minero completes subscription for shares of Antioquia Gold

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Consorcio Minero Horizonte S.A.

On October 28, 2010, Desafio Minero S.A.C., the exploration arm of Consorcio Minero Horizonte S.A., announced that it had completed the second and final closing of its subscription for common shares of Antioquia Gold Inc. The private placement was made pursuant to a subscription agreement entered into on August 9, 2010 between Desafio and Antioquia pursuant to which Desafio agreed to subscribe, in two steps, for up to approximately 16,170,801 common shares at a price per common share of $0.20. Immediately following the closing of the private placement, Desafio had control and direction over approximately 19.99% of the common shares then outstanding. Consorcio Minero Horizonte S.A. was advised in this transaction by Fasken Martineau with a team that included Georges Dubé, Martin Fisher-Haydis and Jessica Catton.


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