May 4, 2010 (FinancialWire) — Radius Gold Inc. (TSX Venture: RDU) said that it has negotiated, subject to stock exchange approval, a non-brokered private placement of up to 5.556 million flow-through common shares at $0.45 per share, for gross proceeds of up to $2,500,200.

The company said that a finder's fee may be paid on a portion or all of the placement. It will consist of 5% cash or shares, and 5% warrants, each warrant entitling the holder to purchase one common share at $0.50 exercisable for one year.

Radius said it will use the net proceeds of the financing for exploration of the company's Sixty Mile Property in the Yukon Territory.

Canada-based Radius Gold has been exploring for gold in Latin America for nearly a decade, and has assembled interests in a portfolio of gold projects throughout the region, including two carried, small-scale gold productions in Guatemala and Nicaragua.

Radius also has two 100% owned exploration plays in Guatemala and the Yukon, with drilling campaigns for 2010/11 in the planning stages.

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