Private Placement The Company announces that is has closed, as of today’s date, a non-brokered private placement of 1,661,500 Units at $0.06 per Unit. Each Unit consists of 1 common share and 1 common share purchase warrant, each warrant entitling the holder to purchase 1

HORSESHOE GOLD MINING INC.

(the “Company”)

Suite 600 – 666 Burrard Street Vancouver, B.C. V6C 2X8 Phone: (604) 662-4480 Fax: (604) 685-0553

NEWS RELEASE

May 14, 2010 TSX Venture Exchange: HSX

Private Placement

The Company announces that is has closed, as of today’s date, a non-brokered private placement of 1,661,500 Units at $0.06 per Unit. Each Unit consists of 1 common share and 1 common share purchase warrant, each warrant entitling the holder to purchase 1 additional common share at a price of $0.10 per share for one year. The Company received securities regulatory approval on May 4, 2010

The hold period on the securities expires on September 15, 2010.

The proceeds will be used to fund, in part, the Company’s participation in the Cosigo Resources Inc.’s Taraira Gold Belt, Colombia, project announced in the Company’s News Release of January 26, 2010.

For more information on Horseshoe Gold Mining Inc. and its operations, please contact James E. McInnes, (604) 662-4480 or Fax (604) 685-0553.

On behalf of the Board of Directors

“James E. McInnes”

____________________________ James E. McInnes, President

The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of this news release which has been prepared by management.