Nayarit Gold Inc. $10 Million Brokered Private Placement is Fully Subscribed

Halifax, Nova Scotia CANADA, March 06, 2009 - Nayarit Gold Inc. (NYG - TSX Venture),

The directors of Nayarit Gold Inc. ("Nayarit") are pleased to announce the proposed financing of $10 million announced yesterday is fully subscribed (see press release March 5, 2009). Jennings Capital and BMO Capital Markets are acting as co-lead agents.

Closing of the sale of the units is subject to a number of conditions, including the receipt of approval from the TSX Venture Exchange as well as the negotiation and execution of certain documentation, including an agency agreement between the agents and Nayarit. Closing for the offering is expected to be on or about March 24, 2009.

Further details of the financing are disclosed in the press release of March 5, 2009.

Nayarit Gold Inc. is a junior resource company dedicated to gold exploration in the proven precious metal districts of Mexico. Management's goal is to rapidly build a profitable resource company and maximize shareholder value through successful exploration and aggressive testing of high quality targets.

For further information on Nayarit, please visit the company's website at www.nayaritgold.com or contact:

Mr. Colin P. Sutherland
President & CEO
(902) 252-3833
[email protected]

CAUTIONARY STATEMENT

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Nayarit, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Nayarit's expectations are exploration risks detailed herein and from time to time in the filings made by Nayarit with securities regulators.

Press Release 04 ? 2009

Source: Nayarit Gold Inc. (NYG - TSX-V) http://www.nayaritgold.com
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