Boxxer Gold Closes First Tranche of $2 Million Financing

Boxxer has paid a finder's fee in connection with the private placementas follows:                                       Cash Commission    Brokers' Warrants-------------------------------      ------------------  -------------------Union Securities Ltd.                          $26,425              564,500Gateway Securities Inc.                              -              556,500M Partners Inc.                                $46,200              462,000Canaccord Capital Corporation                  $ 3,500               35,000Blackmont Capital Inc.                         $11,550              115,500

The cash commission where paid, is equal to 7% of the gross proceeds attributed to the named firm. The number of Broker Warrants issued is equal to 7% of the aggregate number of Units sold pursuant to the private placement attributed to the named firm. Gateway Securities Inc. received Brokers' Warrants equal to 14% of the aggregate number of Units sold attributed to them in lieu of cash commission. The Broker Warrants entitle the holder to purchase Units at a purchase price of $0.10 per Unit exercisable at any time until 5:00 p.m. (Calgary time) on May 20, 2009. The Broker Warrants and the underlying securities are also subject to a resale restriction until March 21, 2008.

Boxxer will use the proceeds of the Offering to fund completion of a Scoping Study and exploration on the Nalesbitan Hill gold deposit and several zones of gold mineralization surrounding the Corporation's Nalesbitan Hill gold project in the Philippines, its Nevada exploration projects including the Boss, Buena Vista, and Boyer Ranch projects and for general working capital purposes.

About Boxxer Gold Corp.

Boxxer is a Canadian junior resource company involved in the exploration of copper-gold porphyry and Iron-Oxide-Copper-Gold projects in the state of Nevada. Boxxer recently acquired a option to purchase 65% of the Nalesbitan Hill gold and porphyry copper project in the Philippines.

If you wish to receive company press releases via email, please advise Valerie Dennis at .

Forward Looking Statements: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding Boxxer's intended use of proceeds from the private placement - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of This Release.