Visible Gold Mines

Rouyn-Noranda, Quebec, July 27, 2007– Visible Gold Mines Inc. (TSXV: VGD) today announced that it has completed its previously-announced initial public offering by issuing 5,460 units at a price of $1,000 per unit, for total proceeds of $5.46 million. Visible Gold’s common shares commenced trading today on the TSX Venture Exchange under the symbol “VGD”. The common share purchase warrants comprised in the units also commenced trading today on the TSX Venture Exchange under the symbol “VGD.WT”.

Each unit consists of: (i) 1,000 “flow-through” common shares of Visible Gold at a price of $0.50 per share ($500); (ii) 1,250 common shares at a price of $0.40 per share ($500); and (iii) 1,125 common share purchase warrants, with each warrant entitling the holder thereof to acquire one additional common share of Visible Gold at a price of $0.60 for a period of two years.

Desjardins Securities Inc. acted as the agent for the initial public offering. At closing, Visible Gold granted warrants to Desjardins Securities Inc., entitling it to acquire up to 859,950 additional common shares at a price of $0.50 per share for a period of two years.

The net proceeds from the initial public offering of units will be used by Visible Gold for exploration work on its Stadacona East property, future property acquisitions and for working capital and general corporate purposes. A description of the recommended exploration program for the Stadacona East property is summarized in the prospectus. A copy of the prospectus is available under Visible Gold’s company profile on SEDAR at www.sedar.com.

Martin Dallaire, the President of Visible Gold, stated: “We are very pleased with the strong demand for our initial public offering. This investor confidence is a testament to the quality of our gold properties and management team.”

Following the closing of the initial public offering, there are 23,994,929 common shares of Visible Gold issued and outstanding.

Visible Gold’s common shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S registration or an applicable exemption from U.S. registration requirements.

For further information, please contact:

Martin Dallaire, President and Chief Executive Officer
Telephone: 819-762-0609, Fax: 819-762-0097
E-mail: mdallaire@visiblegoldmines.com
Website: www.visiblegoldmines.com

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

This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States.