Lero Gold Corporation ("Lero", or the "Company") Grant of Incentive Options

LONDON, UNITED KINGDOM (TSX VENTURE: LER) announces that on December 21, 2007 it granted, subject to TSX-V regulations and approval, to certain directors and employees of Lero, incentive stock options (the "Options") to purchase up to 1.1 million shares, vesting immediately. The Options are exercisable for a term of 5 years at the price of CAD$0.61 per share. In addition, the Company granted, subject to TSX-V regulations and approval, to a company which provides investor relations services, incentive stock options to purchase up to 200,000 shares, vesting in equal amounts over the next four quarters exercisable for a term of 5 years at the price of CAD$0.74 per share.

Notes to Editors:

Lero Gold Corporation (TSX VENTURE: LER) is a base and precious metal exploration company led by a senior management team with extensive expertise in mineral exploration and advanced project management.

In July, 2006 Oriel Resources Plc completed its previously announced transfer and sale of its gold related assets into Lero Gold Corporation ('Lero') (formerly ELE Capital Corporation - 'ELE'). Lero resumed trading on TSX Venture Exchange (TSX-V) on Thursday July 27, 2006 under the trading symbol "LER".

Lero Gold is currently seeking and evaluating advanced exploration stage gold and base metal projects in Kazakhstan, Kyrgyzstan and Russia. The Company is currently exploring two advanced staged gold deposits in the Tien Shan gold belt in the Kyrgyz Republic. For avoidance of confusion;

- The Taldybulak copper gold porphyry is a separate deposit from the Taldybulak gold deposit previously owned by Central Asia Gold Limited.

The Company is aggressively adding high quality properties to its portfolios in Kyrgyzstan, Kazakhstan and Russia. The Company is well-funded and strategically positioned to fully participate in the current favourable investment climate through solid technical advances, unique in-country expertise, and timely business initiatives. With senior management and excellent technical expertise, Lero Gold intends to aggressively explore and develop a portfolio of new projects and targets.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Lero Gold Corporation Nick Clarke President & CEO +44 (0) 20 7514 0590 Lero Gold Corporation Darryl Yea Non-Executive Chairman (604) 699-2458 Lero Gold Corporation Gavin Dallas Marketing and PR +44 (0) 20 7514 0590 Bankside Consultants Michael Padley / Michael Spriggs +44 (0) 20 7367 8888 Lero Gold Corporation Patrick Elliot Manager IR (604) 643-1744 Email: info@lerogold.com Website: www.lerogold.com

Lero Gold Corp (TSXV:LER)
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