Golden Fame Resources Closes Non-Brokered Private Placement

Golden Fame Resources Corp. (TSX VENTURE:GFA) reports that it has completed a
non-brokered private placement raising gross proceeds of approximately $7.1
million by the issuance of 22,190,375 units (the "Units") at a price of $0.32
per Unit. Each Unit consists of one common share and one-half of one share
purchase warrant (the "Warrant"). Each full Warrant entitles the holder to
purchase, for a period of two years following the closing, one additional common
share at a price of $0.52 per share. Total finders' fees of $411,512 and 628,400
finder's fee warrants, exercisable into one common share at a price of $0.42 for
a two-year period, were paid.


All securities described in this news release are subject to a hold period
expiring on October 10, 2011.


ON BEHALF OF THE BOARD

Graham M. Clark Jr., Director & CEO

Pan American Fertilizer Corporation (TSXV:GFA)
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