Radius Gold Inc.
TSX.V: RDU     $0.27

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 March 30, 2004
Radius Closes Acquisition of Tambor Interest

 Vancouver, March 30, 2004: Radius Explorations Ltd. is pleased to announce the completion of its acquisition of all of Gold Fields' interest in the Tambor Joint Venture located in Central Guatemala. Radius now owns a 100% interest in the Tambor Properties. In consideration therefor, the Company has issued 1,300,000 common shares to Gold Fields, such shares having a hold period until June 17, 2004.

Background

The Tambor Joint Venture (originally 55% Gold Fields / 45% Radius) was formed in 2001 to explore a 25 kilometer long belt of gold mineralization located on the south side of the Motagua fault zone, a regional structure that forms part of the collision boundary between the Caribbean and North American tectonic plates. The Tambor Properties host an orogenic lode gold belt, discovered by Radius in 2000 and advanced by Gold Fields over the past two years. As the operator of the joint venture, Gold Fields significantly increased the land holdings and made several new gold discoveries in this belt.

Tambor contains 216,000 ounces of gold in inferred resources and 57,800 ounces in indicated resources, according to the independent resource estimate prepared by Chlumsky, Armbrust and Meyer LLC (CAM) of Lakewood Colorado. Significantly, there are at least 2 major gold-in-soil anomalies with associated anomalous rock samples that have yet to be drill tested. Accordingly, CAM states that "it is considered likely that the current resource (at Tambor) could be doubled or tripled or even more with a concerted drilling program".

Qualified Person

The CAM report serves as an independent report prepared by a Qualified Person as defined by the National Instrument 43-101P. The definitions of the measured, indicated and inferred resources conform to CIM Guidelines as defined in CIM Standards on the Mineral Resources and Reserves Definitions and Guidelines, dated August 20, 2000. George A. Armbrust, PhD., a consulting geologist and a Registered Geologist with the State of Wyoming (PG-2903), is the Qualified Person responsible for the preparation of the technical report.


For further information on Radius Explorations Ltd., please call toll free 1-888-627-9378 or visit our web site (www.radiusgold.com).


The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.



ON BEHALF OF THE BOARD

"signed"
Simon Ridgway, President


Symbol: TSXV-RDU
Shares Issued: 39.7-million
 
 

You can view the Next News Releases item: Tue Apr 13, 2004, Radius / PilaGold Announce Banderas Drill Results & Provide Merger Update

You can view the Previous News Releases item: Wed Mar 17, 2004, Radius granted key concessions covering the El Pavon discovery in Nicaragua

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