Resource Capital Gold Corp GDPEF

Financing

[lmcbain]

See below for the announced terms from a press release related to an agreement entered into by another junior (Argonaut Exloration) with IBK. I don't know what the terms wil be if/when Reliance can formalize an agreement, but this is an example of the type of deal IBK has generated recently. We'll have to wait and see what the end result is with Reliance if they formailze, but this gives us a reference point anyway. $$ figures and pricing would of course be expected to be unique to each deal. Hopefully we see confirmation of an agreement soon, as that would indicate there is an active financing underway.

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Salut,

Leigh McBain

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"Argonaut Exploration Inc. announces that it has engaged IBK Capital Corp. ("IBK Capital") to complete, on terms and conditions acceptable to the Company, a private placement (the "Financing") of up to $550,000 on a best efforts basis following the due diligence requirements of IBK Capital. The Financing will consist of up to 11,000,000 units of the Company ("Units") priced at $0.05 per Unit. Each Unit will consist of one common share in the capital of the Company ("Common Share") and one-half of one Common Share purchase warrant ("Warrant"). Each whole Warrant shall be exercisable into one Common Share at a price of $0.10 per Common Share for a period of eighteen months from the date of issue.

The Company has agreed to pay IBK Capital the following fees:

• On the closing date thereon a commission equal to 9% of the total amount of the Financing (the "Commission").
• A non-refundable work fee of $25,000 (the "Work Fee"). The Work Fee will be deducted from the Commission upon closing of the Financing. The Work Fee is paid to IBK Capital to partially defray its upfront internal costs of providing the services contemplated by this agreement and is not success based and is not refundable.
• Argonaut agrees to issue to IBK Capital non-transferable common share purchase warrants of the Company ("Broker Warrants"). The number of Broker Warrants to be issued to IBK Capital will be equal to 10% of the total number of Units issued pursuant to the Financing to a maximum of 1,100,000 Broker Warrants. Each Broker Warrant shall entitle IBK Capital to acquire one Common Share at a price of $0.05 per Broker Warrant for a period of eighteen months from the date of issue. The Broker Warrants shall expire on the date that is eighteen months from the date of issuance.