November 18, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Radius Gold Inc. (RDU.V) (RDUFF.OB) said it has negotiated a non-brokered private placement of up to 5.4 million flow-through common shares at $0.65 per share, for gross proceeds of up to $3.51 million.

The company said it has agreed to allocate a portion of the offering to subscribers found by Axemen Resource Capital Ltd.

Radius said it will pay finder's fees equal to 5% of subscription amounts found, payable in cash or shares, plus finder's warrants in an amount equal to 5% of shares subscribed for, with each such finder's warrant exercisable into one common share of the Company at a price of $0.70 for 18 months from closing.

The closing of the financing is scheduled to occur on or before December 6, 2010. Securities issued under the private placement will be subject to a hold period, which will expire four months and one day from the date of closing.

Radius said it will use the net proceeds for exploration of the company's Sixty Mile property in Yukon territory and its other Yukon properties.

Canada-based Radius is engaged in exploring for gold in Latin America and has assembled interests in a portfolio of gold projects throughout the region, including carried stakes in two small-scale developing gold projects in Guatemala and Nicaragua.

Radius also has two 100% owned exploration plays, the HB property

in Guatemala and the Sixty Mile property in the Yukon Territory. 

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