Radius Gold Inc. provided an exploration update for the Tropico gold mineralized hot spring type sinter and breccia pipe target within the Fresnillo district, Zacatecas, Mexico. Additionally, Radius proposes a non-brokered private placement of a minimum of 10,000,000 units at a price of $0.175 per unit for proceeds of a minimum of $1,750,000. Each unit will consist of one common share of the Company and one common share purchase warrant.

Each warrant will entitle the holder to purchase one common share at a price of $0.,35 for a term of 24 months following the closing of the private placement. The proceeds of the private placement are intended to be used to fund drilling and exploration efforts on Radius's Tropico project, and for general working capital. Completion of the private placement is subject to approval by the TSX Venture Exchange.

The Tropico target is located 30 km northwest of Fresnillo city, Zacatecas, Mexico; The Fresnillo mining district is one of the world's epithermal systems and hosts the world's oldest continuously operating mines producing silver, gold, copper, lead, and zinc for approximately five centuries, since 1554. The district has over 150 veins, mantos and chimney deposits including +30 large scale ore producers. The orebodies at Fresnillo are most frequently blind, meaning they do not outcrop, and the tops are encountered to a depth of approximately 150 to 300 m. Surface expressions can include geochemical pathfinder halos, thin discontinuous quartz carbonate veinlets, and critically low temperature chalcedonic silica and hot spring related sinter.

From limited outcrop and float at Tropico, Radius geologists identified an elliptical zone of intensely silicified hydrothermal breccias approximately 450 m x 250 m. Several of the outcrops and float blocks are composed of chalcedonic and opaline sinter.