Boxxer Closes Fully Subscribed Private Placement

CALGARY, May 1 /CNW/ - Boxxer Gold Corp. (TSX-V:BXX) ("Boxxer" or the "Corporation") today announced it has closed the non-brokered $510,000 private placement financing previously announced on February 17, 2009.

Boxxer issued a final 2,785,000 Units at $0.03 per Unit for gross proceeds of $83,550. Each Unit consisted of one Common Share in the share capital of Boxxer and one-half of one Common Share purchase warrant. Each whole Warrant is exercisable for 18 months from the date of issuance into one Common Share at a price of $0.10 per Common Share. These securities were issued with a four-month hold period expiring on August 28, 2009. Proceeds of the private placement will be used for the drilling program on the Boss Property in Nevada and working capital.

A finder's fee totaling $4,800, and 200,000 finder's warrants were paid to Jones, Gable & Co. Ltd. for their participation in this final tranche of the private placement. Each finder's warrant is exercisable into one Unit of the private placement, comprised of one common share exercisable at $0.03, and one-half of one Warrant. Each whole warrant is exercisable into one common share at $0.10 for a period of 18 months. The finders warrants were also issued with a four month hold period, until August 28, 2009.

Including the final tranche, gross proceed of the private placement totalled $510,000 (17,000,000 Units). A combined total of $35,700 was paid in finders fees, and 1,487,500 finders warrants exercisable into Units were issued to eligible parties, exercisable for a period of 18 months from issuance.

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

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