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Registered Office and Postal address

C/- McCullough Robertson

11/66 Eagle St,

Brisbane, QLD. 4000

Telephone: 0427 401198
Facsimile: 07 33993172




The Convergence Indonesia 20th Floor

Jalan Epicentrum Boulevard Raya

Kawasan Epicentrum
Jakarta 12960 Indonesia

Telephone: +62 21 2988 0399
Facsimile: +62 21 2988 0427

ASX Announcement 28 July 2010

AUD$10.8M Capital Raising at $0.14c per share ‐ Fully Underwritten Private Placement

The Board of Directors of Sihayo Gold Limited ("the Company") is pleased to announce the raising of A$10.8m via a fully underwritten private placement of 76.9 million ordinary shares at a price of A$0.14c per share.

The placement is underwritten by Summit Investments Pty Ltd ("Summit"), the Company's largest shareholder.

The placement price of A$0.14c represents a significant premium of 39% to the 90 day "VWAP" and 8% premium to the last traded price. (VWAP ‐ volume weighted average price)

The issuance of shares shall occur in three tranches over a period not greater than 65 days from the date of this announcement.

Summit will be the single largest participant in the placement together with other selected long‐term professional and/or institutional investors, which includes some existing shareholders.

The funds raised will enable the Company to remain on target to complete the Definitive Feasibility Study ("DFS") by December 2010, to continue the strong resource extension / exploration drilling program adjacent to and along strike of the existing Sihayo resource and to significantly increase explorations efforts on other identified mineral prospects across the Contract of Work ("COW") area.

Mr. Peter Bilbe, Chairman, says "Summit have demonstrated yet again their long term commitment to work with the Board and Management of the Company for the greater benefit of all shareholders. With the additional funding we are looking forward to progressing our DFS to completion by year end and seeking to advance our project into the construction phase next year."