Wesgold Arranges $1.0 Million Bridge Loan

VANCOUVER, Oct. 19, 2011 /CNW/ - Wesgold Minerals Inc. (TSXV: WSG) announces that it has arranged a bridge loan of $1.0 million to provide funding for general working capital requirements while the Company awaits TSX Venture Exchange approval to the Company's option agreement with Minatura International on the Cordoba Property, Colombia and related financing.

The loan is repayable within one year and is non-interest bearing.  In consideration for the loan, the Company has agreed, subject to stock exchange approval, to issue to the lender 200,000 common shares of the Company.

About Wesgold Minerals

Wesgold Minerals Inc. is a Vancouver-based mineral exploration company focused on the acquisition and exploration gold and copper projects in Colombia. Wesgold recently optioned from Minatura the Cordoba property, covering 25,790 hectares in the Department of Cordoba, Colombia, 200km north of the city of Medellin.

ON BEHALF OF THE BOARD

     "Ralph Rushton"
Ralph Rushton, Director

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.