Private Placement Completed

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

SHOSHONI GOLD LTD.

609-475 HOWE STREET, VANCOUVER BC V6C 2B3

TEL: (604) 318-1448 FAX: (604) 682-1666 [email protected]

TSX VENTURE EXCHANGE SYMBOL: SHJ

News Release

January 10, 2013

Private Placement Completed

Shoshoni Gold Ltd. (the “Company”) (TSXV: SHJ) is pleased to announce that, further to its news releases of August 13, 2012, September 10, 2012 and November 20, 2012, it has closed a non-brokered private placement offering (the “Offering”) and issued 12,795,000 units (“Units”) of the Company at a purchase price of $0.05 per Unit for gross proceeds of $639,750. Each Unit consists of one (1) common share in the capital of the Company (a “Share”) and one (1) common share purchase warrant of the Company (“Warrant”). Each Warrant entitles the holder to purchase one (1) common share at a purchase price of $0.10 per common share exercisable on or before July 2, 2014. Subject to certain conditions, if the closing price of the Company’s common shares on the TSX Venture Exchange (the “Exchange”) is higher than $0.20 for 30 consecutive trading days, the Company may, in its sole discretion, accelerate the expiry date of the Warrants to a date which is within 10 Business Days after the date of issue of a news release publicly announcing such acceleration. A portion of the Offering (3,500,000 Units) has been closed into trust and will be released from trust upon satisfaction of certain conditions imposed by the Exchange.

The Company has also issued 637,500 shares (the “Finder’s Shares”), and paid the sum of $8,500 as a finder’s fees in connection with the Offering. A portion of the Finder’s Shares (337,000 shares) relating to the portion of the Offering closed into trust is held in trust on the same conditions.

The Units, any securities issued upon the exercise of the Warrants and the Finder’s Shares are subject to a hold period expiring at midnight on May 2, 2013.

The Company intends to use the proceeds of the Private Placement for evaluation of potential acquisitions and general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy 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, or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless an exemption from such registration is available.

On behalf of the Board,

Ralf Hillebrand, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement This document contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and other future plans and objectives, are forwardlooking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company’s documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.