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Abstract
(Marketwire - March 24, 2010) - G4G Resources Ltd ("G4G" or "the Company") (TSX VENTURE:GXG) announces that the independent technical report on the geothermal resource at the Despoblados prospect ("Despoblados") located in San Juan, Argentina ("technical report") has been completed by GeothermEx, Inc. ("GeothermEx"). The technical report has been filed with the TSX Venture Exchange ("TSX-V") for review prior to release. Upon receiving TSX-V approval, the Company intends to post the technical report on SEDAR.
G4G is currently in the process of satisfying the requests from the TSX-V for documents and information relating to the proposed transaction. Trading in G4G's common shares has been halted on the TSX-V since the announcement of the proposed transaction on February 16, 2010. Completion of the transaction remains subject to the final approval of the TSX-V and G4G Shareholders. Following completion of the transaction, G4G intends to carry out planned work that would include structural mapping, geochemistry, geophysics and drilling, with the goal of defining geothermal resources which will support the commercial generation of electricity. The amount of the work commitment by G4G for the exploration and drilling activities is US$1,863,000 over a period of two years.