Luiri Gold to Voluntarily Delist from the TSX Venture Exchange

Luiri Gold Limited - 

DETAILS

The Board of Directors of Luiri Gold Limited ("Luiri Gold" or the "Company")
(TSX VENTURE:LGL)(ASX:LGM) advises that the Company is applying for voluntary
delisting of its common shares from the TSX Venture Exchange ("TSXV").


Subject to the application being accepted by the TSXV, it is expected that Luiri
Gold's common shares will be delisted from the TSXV at the close of trading on
or about Friday, 20 January 2012.


In addition to Luiri Gold's common shares being listed for trading on the TSXV,
they are listed on the Australian Securities Exchange ("ASX") in the form of
CHESS Depository Interests ("CDIs"). Each CDI represents one common share.


Following the delisting from the TSXV, the Company's common shares will continue
to trade on the ASX in the form of CDIs.


In addition, when the Company meets the requirements to cease reporting to the
British Columbia Securities Commission ("BCSC") and Alberta Securities
Commission ("ASC"), it intends to apply to the BCSC and ASC to cease to be a
reporting issuer in the provinces of British Columba and Alberta (the Canadian
jurisdictions in which the Company is a reporting issuer).


Reasons for the voluntary delisting from the TSXV and intention to cease to be a
reporting issuer


After due and careful consideration, the decision to delist was taken due to:



--  the limited (and decreasing) trading volume of Luiri Gold's shares on
    the TSXV compared to the trading activity on the ASX, since its listing
    on the ASX in November 2009; 
--  the low (and diminishing) level of Luiri Gold share ownership in Canada
    (approximately 5% of the total number of common shares of the Company
    are owned by Canadian residents); and 
--  the ASX refusing to renew Australian reporting waivers as a result of
    the vast majority of the Company's shareholders and trading volume being
    of Australian origin, increasing the administrative burden and cost to
    Luiri Gold. 



The Board of Directors considers that the dual reporting and compliance costs
plus the administrative responsibilities of the Company in maintaining the TSXV
listing are no longer justifiable. 


Implications of the TSXV delisting for shareholders on the Canadian register

As a consequence of the TSXV delisting, the Canadian register shareholders
and/or CDS participants currently on the Canadian register will need to request
to have their shareholdings transferred to the Australian CDI branch register.


Canadian registered shareholders and/or CDS participants will be unable to trade
their shares on ASX until they have lodged a request through Computershare to
issue CDIs on the Australian CDI branch register.


Canadian share positions will remain on the Canadian registry until shareholders
activate a move to the Australian CDI branch register either by completing the
necessary Computershare form or by instructing their broker to do so.


Shareholders whose shareholding is moved to an Australian issuer sponsored
holding will be sent an issuer sponsored holding statement, either through their
broker or directly.


Shareholders on the Canadian register are encouraged to contact the Company's
share registry for information on 1-800-564-6253 (toll free within North
America) or 1-514-982-7555.


To assist shareholders who may want to trade shares on ASX following the
Company's delisting from TSXV, the Company has entered into an agreement with
Euroz Securities Limited, which has agreed to facilitate trading in the
Company's shares for a period of three months following the delisting. Holders
can contact Tom Ruello at Euroz Securities Limited on + 61 8 9488 1420 to
utilise these agreed trading arrangements.


CEO, Evan Kirby, commented:

"Since listing upon the ASX, management of Luiri Gold has gradually moved to
Australia. This migration has been followed by the Company's investors such that
now only about 5% of the Company's shareholders are Canadian residents.


This low level of interest combined with decreasing TSXV trading volumes
regrettably means the Company can no longer justify maintaining a listing on the
TSXV."


On behalf of the Board of Directors of the Company,

Evan Kirby, Director and CEO



Corporate Structure                 
                               
Shares on issue     127.43m    
Options             10.1m      
52 week high        A$0.27     
52 week low         A$0.09     
                               
Cash (as at 31 Oct) A$2.7m     
                                    
Company Directors                   
                                    
Melissa Sturgess                    
Chairman                            
                                    
Evan Kirby                          
Director and Chief Executive Officer
                                    
Mike Langoulant                     
Executive Director                  
                                    
Robert Brown                        
Non-Executive Director
Luiri Gold Limited (TSXV:LGL)
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