Mr. Jeremy Prinsen reports

GENESIS GOLDFIELDS ANNOUNCES PRIVATE PLACEMENT

Genesis Goldfields Corp. has arranged a non-brokered private placement financing of up to 13,333,333 units in the capital of the company at a price of 15 cents per unit, for gross proceeds of up to $2-million.

Each unit purchased will include one common share and one-half of one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share for a period of one year at a price of 22.5 cents per common share.

All securities issued in connection with the offering will be subject to applicable statutory hold periods in accordance with Canadian securities laws. The offering is subject to receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange.

About Genesis Goldfields Corp.

Genesis Goldfields is a Canadian gold exploration company focused on Angola. Its flagship asset is the district-scale Ganda gold project, a 786-square-kilometre licence in central-western Angola, where the company is carrying out systematic exploration with the aim of opening a new gold district in one of the least-explored gold jurisdictions in Africa. The company also holds exploration properties in Canada.

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