D'Aguilar Gold Limited (ASX:DGR) Announces AusNiCo Limited IPO Raising Closed Oversubscribed

Brisbane, Oct 12, 2010 AEST (ABN Newswire) - Further to previous market updates regarding the IPO of AusNiCo Limited, the Directors of D'Aguilar Gold Limited (ASX:DGR) are pleased to advise that the offer has closed oversubscribed.

Following a scale-back process, AusNiCo will be progressing various matters for the finalisation of its IPO in accordance with the following timetable:

- Allotment of Shares Friday, 15 October 2010

- Dispatch of Holding Statements Tuesday, 19 October 2010

- Anticipated Trading Date on ASX Thursday 21 October 2010

The Board of D'Aguilar would like to thank all applicants and D'Aguilar shareholders for their strong support of the IPO raising under the Priority Offer. It is likely that similar Priority Offers may follow for IPO raisings generated for D'Aguilar subsidiaries Navaho Gold and Armour Energy.

As previously announced, the ASX debut of AusNiCo will trigger the employment of Mr John Downie as CEO, and Mr Stephen Roberts as Non-Executive Director of AusNiCo. Both appointees have a strong background in nickel resource development companies.

Following its listing on the ASX, D'Aguilar will have a retained interest in AusNiCo of 58.85 million shares, and 18 million options (exercisable at 30 cents by 19 November 2013).

AusNiCo offers the opportunity for exposure to:

- multiple commodities, including nickel, gold, silver, copper, cobalt and platinum group metals;

- an extensive package of tenements with encouraging mineralisation in an area of continuing industrial growth and established infrastructure;

- advanced targets with the prospect of rapid drilling results; and

- accomplished Board and Management with substantial experience in the fields of large project exploration and development, and Nickel project development.

Following its ASX listing, AusNiCo will focus on the continued exploration and development of its nickel sulphide discovery at Pembroke and Mt Cobalt, which has already returned an exploration drilling result of 50m @ 0.34% Nickel, including 4m @ 1.1% Nickel. The style of mineralisation is based on the Avebury deposit in Tasmania, owned by Allegiance Mining prior to its A$840m take-over by Zinifex in 2008. At Avebury 172,000 tonnes of contained nickel was defined (refer footnote) and later developed at grades of approximately 1% nickel, and concentrates containing more than 20% nickel were produced.

Contact

Mr Nicholas Mather Managing Director Karl Schlobohm Company Secretary D'Aguilar Gold Ltd Ph: +61-7-3303-0680 http://www.daguilar.com.au