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Press release from Business Wire

Renaissance Gold Signs Second Agreement with Sumitomo

Monday, June 11, 2012

Renaissance Gold Signs Second Agreement with Sumitomo07:30 EDT Monday, June 11, 2012 WHITE ROCK, British Columbia (Business Wire) -- Renaissance Gold Inc. (TSX: REN) (“RenGold”) is pleased to announce the execution of an agreement with Summit Mining Exploration II, Inc., (“Summit II”) a US subsidiary of Sumitomo Corporation (“Sumitomo”). This is the second agreement with Sumitomo. Summit II is committed to spend a minimum of US$570,000 within the first agreement year and a minimum of US$500,000 per year thereafter. Bankable Feasibility must be obtained by year eight before vesting 70% in the Big Gossan copper project, Pershing County, Nevada. RenGold's technical staff recognized the Big Gossan copper project by proprietary satellite alteration mapping, which identified a gossan on the margin of a skarn-bearing Cretaceous granodiorite at the south end of the Sahwave Mountains in southern Pershing County, Nevada. The gossan is exposed for about 1.5 km along strike and overlaps with the southeast end of a magnetic low that trends to the northwest for about 3 km. Continuing to the northwest is one km strike of exposed copper workings with a similar northwest structural trend. The project is copper dominant, but grab samples with up to half gram gold and over 3 ounce silver have been obtained. Copper grades in the grab samples in excess of 5 percent have been obtained to date. The project contains a number of near-term drill targets at either end of the geophysical anomaly and the buried core allows for the possibility of significant growth. Sumitomo has a similar agreement on RenGold's Spruce Mountain property through another subsidiary, Summit Mining Exploration, Inc., (“Summit”) which has seen an initial round of drilling (Press release April 26, 2012). To date Summit have spent over US$1.8 million on Spruce Mountain exploration and is expected to agree to a second round budget of US$1.7 million in additional expenditures. At Sumitomo's election, RenGold is conducting the Spruce Mountain programs for Summit and will do the same for the Big Gossan programs. Richard Bedell President & CEO comments: “We are very pleased to complete another agreement with Sumitomo. They are a strong group to align with for mine development and metals marketing and have a corporate culture that allows for strong technical interaction. The Big Gossan is an early stage exploration property, but contains significant potential for large scale copper and precious metal production.” Qualified Person All data disclosed in this press release, including sampling, analytical and test data have been reviewed by the Company's qualified person Mr. Eric M. Struhsacker, M.Sc., and Certified Professional Geologist as recognized by the American Institute of Professional Geologists. About Renaissance Gold Inc. Renaissance Gold Inc. is a gold/silver exploration company that has a large portfolio of exploration projects in Nevada, Utah, Argentina and Spain. Many of the projects are in exploration earn-in agreements with industry partners who provide exploration funding. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire new precious metal exploration projects that are then offered for joint venture. About Sumitomo Corporation Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration II, Inc. is wholly owned subsidiary of Sumitomo Corporation and its headquarter is located in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp/english/. Renaissance Gold Inc. By: Richard L. Bedell, President and CEO This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.Although Renaissance Gold Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Renaissance Gold Inc's management on the date the statements are made. Except as required by law, Renaissance Gold Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.Renaissance Gold Inc.Richard L. Bedell, 775-337-1545rbedell@rengold.comorEric Struhsacker, 775-337-1545estruhsacker@rengold.com