True Gold Mining Inc.: Karma Project Update; Activities Related to Feasibility Study Progressing

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - March 27, 2013) - True Gold Mining Inc. (TSX VENTURE:TGM) ("True Gold" or the "Company") is pleased to provide an update of the studies and preliminary information arising from the ongoing preparation of a feasibility study ("FS") for the Karma Gold Project ("Karma Project").

The FS is being conducted by SENET, a leading project management and engineering firm in the field of mineral processing, with the participation of globally recognized subcontractors such as SRK Consulting, Knight-Piesold (Pty) Ltd. and Roche Ltd., Consulting Group. The FS entails the development of a fully engineered construction and operating plan with considerations for social management planning, environment, permitting, geotechnical engineering, hydro-geology, water management, metallurgical testing, process design, and mine planning.


Key updates include:

- Geotechnical work in progress intersected thicker than expected laterite in proposed areas selected for the leach pad and plant. Thicker laterite potentially provides a load-bearing, impermeable layer that could simplify construction and liner design.

- Hydro-geology studies reveal limited groundwater in only one of the pits, indicating little groundwater-related risk for mine design.

- The proposed process flow sheet is expected to incorporate both mineral sizing and crushing to provide operational flexibility and effectiveness, potentially mitigating risks and reducing costs associated with variations in material hardness.

- Investigations to employ a mobile crushing and sizing plant intended to simplify process design and reduce capital costs are ongoing. Site reviews of existing operations with throughputs in excess of those planned for the Karma Project have been completed.

- Preliminary estimates indicate that the Karma Project is expected to require approximately 1.5 million cubic metres of water a year, considerably less than a carbon-in-leach (CIL) plant for a similar size operation.

- Conceptual plans for water management provide a basis for engineering studies that would utilize a barrage (reservoir) with a small footprint to supply sufficient water to meet the requirements of both the Karma Project and the needs of the community. The Company has received approval for the construction of the barrage (see True Gold release dated March 25, 2013).

- A metallurgical core drilling campaign at the five Karma Project pits is complete and samples are being shipped to McClelland Laboratories in Nevada for ore characterization and column leach variability test work (see True Gold news releases dated Feb.27, March 6 and March 13, 2013 for assay results).

- Extensive environmental baseline monitoring, which commenced in July 2012, is ongoing and is expected to satisfy all requirements for the FS. The framework for an environmental management system is being developed to coordinate a series of action plans designed to mitigate project impacts related to employee health and safety, water and air quality, waste management, and site closure.

- Ongoing metallurgical, geo-technical and geological investigations are helping to provide a deeper understanding of the mineralization at the Karma Project, and may assist in optimizing mine sequencing and pit design.

The FS is expected to be completed by the end of 2013.

Peter C. Carter, P. Eng., Chief Operating Officer and Vice President Engineering of the Company, is the designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and verified that the information contained in this release is accurate and approves of the written disclosure of same.


About True Gold

True Gold Mining Inc. is where gold comes to life. We are committed to growing a profitable gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.

Additional information about the Company and its activities may be found on the Company's website at www.truegoldmining.com and under the Company's profile at www.sedar.com.


ON BEHALF OF THE BOARD

Dwayne Melrose
President & CEO



Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian and United States legislation. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties; permitting time lines and requirements, requirements for additional capital; planned exploration and development of properties and the results thereof; and ongoing and future work on and the results of the FS. Forward-Looking Information can be identified by the use of words and phrases such as "plans", expects", "scheduled", "estimates", "intends", "anticipates", "potential", "believes", "contemplates" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In making the forward-looking statements in this news release, the Company has applied several assumptions including, but not limited to, certain assumptions that the current exploration and other objectives concerning the Karma Project can be achieved and that the Company's other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that all necessary governmental approvals will be obtained in a timely manner and on acceptable terms; and that progress on the FS will proceed as expected. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors and equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration and development industry; environmental risks; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; governmental regulations and the ability to obtain necessary licences and permits; currency fluctuations; changes in environmental laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; the possibility that future exploration or development results or the results of the FS will not be consistent with the Company's expectations; as well as those factors discussed in the Company's public disclosure record. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information.

Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Neither 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.



Contact

True Gold Mining Inc. - Vancouver Office:
604-801-5020
info@truegoldmining.com

True Gold Mining Inc. - Investor inquiries:
Alex Holmes
604-632-4677
aholmes@truegoldmining.com

True Gold Mining Inc. - Media inquiries:
Ian Noble
604-809-8750
inoble@truegoldmining.com
www.truegoldmining.com