HispanicBusiness

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/13/12 -- Batero Gold Corp. (TSX VENTURE: BAT) ("Batero" or "the Company") is pleased to announce that further to its news releases dated November 1 and 29, 2012, it has closed the private placement offering with the shareholders of Consorcio Minero Horizonte S.A. ("Horizonte") of an aggregate (a) 8,913,000 common shares of the Company at a price of $0.65 per share and (b) 18,456,000 subscription receipts of the Company at a price of $0.65 per subscription receipt, for aggregate gross proceeds of $17,789,850 (together, the "Offering"), on the terms as described in the Company's news release of November 29, 2012.

Before giving effect to the completion of the Offering and the conversion of subscription receipts, the Horizonte Group directly or indirectly owned or controlled approximately 8.9% of Batero's issued and outstanding shares, on a partially diluted basis. Following the Offering, Horizonte, together with its affiliates and shareholders (the "Horizonte Group") now owns or controls approximately 19.9% of Batero's issued and outstanding shares, assuming exercise of all convertible securities held by the Horizonte Group (excluding securities underlying the subscription receipts). Upon conversion of the subscription receipts, the Horizonte Group is expected to own or control approximately 35% of Batero's issued and outstanding shares. The conversion of the subscription receipts is expected to occur in January, 2013, subject to receipt by Batero of the requisite approval from its shareholders and TSX Venture Exchange. The Company has scheduled an annual and special general meeting of shareholders on December 31, 2012 for the purposes of, among other things, approving the conversion of the subscription receipts.

All of the securities issued under the Offering are subject to a statutory hold period until April 14, 2013 in accordance with applicable Canadian securities laws.

The proceeds of the Offering will be dedicated to the development of the Company's Batero-Quinchia Gold Project located in Colombia and for working capital and administrative purposes relating to the Batero-Quinchia Project.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Batero Gold

Batero Gold Corp. is a Vancouver-based precious and base metals exploration and development company focused on its 100% owned Batero-Quinchia project in the Quinchia district of Colombia's emerging Mid-Cauca porphyry gold and copper belt. The Company is evaluating the most efficient mine scenario at the La Cumbre deposit, one of three porphyry deposits at the Batero-Quinchia Project. Batero plans to leverage its strong management team, regional relationships, and strategic partnership, to develop its prospective project into Colombia next major mining venture.