Sienna Gold Inc. Announces US$ 10 Million Financing

Sienna Gold Inc. ("Sienna" or the "Corporation") (TSX VENTURE:SGP)(LMA:SGP) has
undertaken, subject to regulatory approval, a private placement of up to
28,600,000 Units at US$0.35 per Unit for gross proceeds of $10,010,000. The
Corporation will issue units at US$0.35 per unit, with each unit consisting of
one common share and one common share purchase warrant. Each warrant entitles
the holder to subscribe for one additional share for US$0.55 for a period of one
year from closing. Proceeds will be used for further exploration work on the
Corporation's Igor Project in Peru and for general working capital. Sienna will
pay to qualified brokers commissions of 7% and issue 7% broker warrants, each of
which will entitle the holder to subscribe for one additional unit at the issue
price for a period of one year from closing. 


Sienna Gold Inc. is a gold exploration company with property interests in Peru.
Its key prospect is the Igor Mine Project, a formerly producing mine that the
Corporation plans to explore further.


WARNING: the Company relies upon litigation protection for "forward looking"
statements. The information in this release may contain forward-looking
information under applicable securities laws. This forward-looking information
is subject to known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those implied by the
forward-looking information. Factors that may cause actual results to vary
materially include, but are not limited to, inaccurate assumptions concerning
the exploration for and development of mineral deposits, currency fluctuations,
unanticipated operational or technical difficulties, changes in laws or
regulations, the risks of obtaining necessary licenses and permits, changes in
general economic conditions or conditions in the financial markets and the
inability to raise additional financing. Readers are cautioned not to place
undue reliance on this forward-looking information. The Company does not assume
the obligation to revise or update this forward-looking information after the
date of this release or to revise such information to reflect the occurrence of
future unanticipated events, except as may be required under applicable
securities laws.

Peruvian Precious Metals Corporation (TSXV:SGP)
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