IG

CALGARY, Nov. 24 /CNW/ -- Trading Symbol: TSX-V: IG CALGARY, Nov. 24 /CNW/ - Infinito Gold Ltd. (the "Company") announces that the Tribunal Contencioso Administrativo (the "Administrative Tribunal") in Costa Rica has rendered a summary ruling on November 24, 2010, on the Crucitas gold mining permits and permitting procedures. The verbal ruling read in court is negative and includes cancellations of the Company's exploitation concessions and environmental and other approvals held by its local subsidiary, Industrias Infinito SA ("IISA"). The Company is seeking further details of the ruling and has been advised the full written ruling will not be available until December 14, 2010. IISA is considering all legal options including submitting an appeal to the relevant chamber of the Supreme Court of Costa Rica (SALA I). The decision by the Administrative Tribunal appears to conflict with the decision reached by the Constitutional Chamber of the Supreme Court of Costa Rica (SALA IV) in April of 2010 that confirmed the validity of IISA's exploitation concessions and approvals. The Company is reviewing the impact of this ruling with respect to its debt facilities and their related covenants and the impact this may have on the presentation of its financial statements. Caution Regarding Forward-Looking Information and Statements Certain statements in this press release address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These factors include, among others, the timing related to the dissemination of the complete, detailed Administrative Tribunal decision and the nature of any conditions contained therein, the timing and nature of an appeal initiated by the Company with the SALA 1, the possibility of appeals or new litigation by parties opposed to the project, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the possibility that all necessary governmental and regulatory approvals will not be received, and the availability of a qualified workforce and third party contractors necessary for the development and operation of a mine. These statements are made as of the date of this release but Company undertakes no obligation to update these forward-looking information or statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking information or statements. INFINITO GOLD LTD. John Morgan President and CEO "Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release." p align="center"bI/bbNFINITO GOLD LTD./bbr/ b216, 102 - 8/bsupbth/b/supbAvenue S.W./bbr/ bCalgary, Alberta T2P 1B3/bbr/ bTelephone: (403) 444-5191/b/p

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