Radius Exercises Option on Sixty Mile Claims, Yukon

VANCOUVER, Nov. 1 /PRNewswire/ - Radius Gold Inc. (TSX-V: RDU) is pleased to announce that it has purchased 23 claims located in the Sixty Mile area of the Yukon, from Northland Resources S.A. pursuant to an option agreement which was exercised by Radius at the end of October 2010.  Eighteen of the claims acquired are now owned outright by Radius and five claims are held via the assumption by Radius of an underlying option agreement with the property owner. These claims form part of the Sixty Mile property as described on the Company's web site. 

The Property

The claims are underlain by Late Cretaceous calc-alkaline volcanics of the Carmacks Group preserved in a northeast trending graben in the Sixty Mile River valley. The graben is bounded on the southeast side by the Sixty Mile Fault, a regional structure that juxtaposes the volcanics with older meta-sedimentary and meta-igneous rocks. Outcrop in the valley is limited to exposures created by placer miners and consists of propylitic to argillic altered, pyritized andesitic volcanics cut by quartz, carbonate and sulfide veins and veinlets.

Yukon prospector Erwin Kreft identified this mineralization in the 1980s, and optioned the ground to Klondike Gold Mining Corporation in 1988 who drilled 7 diamond drill holes totaling 765m. The most significant result was from DDH D4/88-02 which returned an average of 8.7 g/t gold over 10.5m from 3m to 13.5m down hole, including 41.7 g/t gold over 1.5m from 4.5m to 6.0m. Mineralization is described as silicified porphyritic andesite cut by narrow pyrite-carbonate-quartz veinlets. Subsequent placer gold mining has destroyed the 1988 drill hole collars and their location is approximate.

Work Program

Radius completed seven diamond drill holes on the Sixty Mile property this summer; two of them targeted the andesitic volcanics.  Results are pending.

Qualified Person

Roger Hulstein, a member of the Association of Professional Engineers and Geoscientists of British Columbia and a Qualified Person as defined by National Instrument 43-101, is responsible for the accuracy of the technical information in this news release, and for overseeing the design and execution of Radius's Sixty Mile exploration program.

About Radius

Radius has been exploring for gold in Latin America for nearly a decade, and has assembled interests in a portfolio of promising gold projects throughout the region, including carried stakes in two small-scale developing gold projects in Guatemala and Nicaragua.  Radius also has two 100% owned exploration plays, the HB property in Guatemala and the Sixty Mile property in the Yukon Territory.

ON BEHALF OF THE BOARD
     "Simon Ridgway"
Simon Ridgway, President & CEO

Investor relations:  Ralph Rushton / Erin Ostrom
Symbol: TSXV-RDU; OTCBB-RDUFF
Shares Issued: 73.5-million

Forward-Looking Statement

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Radius Gold Inc.  Actual results may differ materially from those currently anticipated in such statement.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE Radius Gold Inc.