INFINITO GOLD LTD.

Infinito Gold Ltd. announces that it has received waivers of events of default under the outstanding $50,500,000 Secured Convertible Notes of the company held by Exploram Enterprises Ltd. and Auro Investments Ltd. When the Notes were issued, the Company and the Noteholders expected the current Costa Rican legal challenge to the grant of a change of land use permit for the Crucitas mine before the SALA IV in Costa Rica would be resolved in time to permit the Company to complete the drawdown of funds under a project debt financing facility to finance commencement of construction at the Crucitas project by September 30, 2009. Consistent with this view, the Notes provided that it would be an Event of Default if the Sala IV proceedings had not been resolved favourably by June 30, 2009 and if the first drawdown under a project debt financing facility did not occur by September 30, 2009 and the first interest payment due under the Notes was payable on September 30, 2009.