CERRO CRUCITAS (SARAPIQUI)

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.

Infinito Gold Ltd. announces that its subsidiary in Costa Rica, Industrias Infinito S.A. (“IISA”), has received notification from the Constitutional Court, or SALA IV, that a one day hearing (the “Vista”), has been scheduled for November 12, 2009 at the Supreme Court buildings in San José, Costa Rica. The Vista will review technical and legal aspects of the Crucitas Gold mine project and will hear brief submissions from those who challenged the legality of the approval and permitting process carried out by IISA leading to the issue of a Change in Land Use Permit (the “Permit”) from regional authorities in San Carlos, Costa Rica.

Construction on the mine site, work on local roads including three bridges and approximately 30 culvert placements is complete and work on the site including ancillary buildings and site preparation and general mine construction has commenced but has been suspended due to a legal challenge regarding the clearing of land for the mining and tailings area for the Crucitas gold mine.