Nayarit Gold Renegotiates Property Payments and Announces Warrant Extension

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Nayarit Gold Inc (TSXV: NYG) is pleased to announce the successful renegotiation of agreements related to concessions held in the Orion District. The Company successfully renegotiated property payments on the La Estrella concession. The La Estrella concession comprises 146 hectares, and is a highly prospective concession located in the Orion District. The Company will be further exploring the area in the 2010 regional exploration campaign.

Pursuant to the renegotiation, the Company has extended the final payment on the La Estrella concession located in the Orion District. The original agreement provided for a US$1 million payment to be made on November 28, 2009, however the Company has restructured the payments as follows:

December 8, 2009	US$75,000 (paid)
June 8, 2010	US$25,000
December 8, 2010	US$100,000
June 8, 2011	US$100,000
December 8, 2011	US$175,000
June 8, 2012	US$175,000
December 8, 2012	US$350,000

The Company also announces that it intends to amend the 5,682,500 share purchase warrants which are currently outstanding, subject to regulatory approval. Each share purchase warrant formerly entitled the purchaser to acquire one common share for $0.60 until January 11, 2009 and $0.70 thereafter until January 11, 2010. These warrants will be amended such that each common share purchase warrant entitles the holder to acquire one common share for $0.70 until July 11, 2010.

ABOUT NAYARIT GOLD INC.

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 build a profitable resource company and maximize shareholder value through successful exploration programs and continued development.

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.