IG

Trading Symbol: TSX-V: IG CALGARY, Oct. 26, 2011 /CNW/ - Infinito Gold Ltd. (the "Company") announces that late in the day on Tuesday, October 25, 2011, the Administrative Law Chamber of the Supreme Court of Costa Rica, ("SALA I") posted a news release indicating they had accepted the fundamental aspects of the request for annulment ("Casación") filed on January 18, 2011 by the Company's wholly owned subsidiary in Costa Rica, Industrias Infinito S.A., ("IISA"). The Casación was filed against the sentence imposed by the Tribunal Contencioso Administrativo ("TCA") on November 24, 2010, (the "Ruling"). In addition, the SALA I accepted the Casación of certain government agencies involved in the Crucitas project approval process and certain, but not all, of the individuals and organizations directly impacted by the Ruling (collectively the "Parties"). In conjunction with accepting the Casación filed by each of the Company and the Parties the SALA I indicated that it intended to render a decision on the Casación within five weeks, which includes a period of fifteen days where the Parties have the opportunity to provide new material for consideration. As stated in the Company's January 18, 2011 news release, the filing of the Casación seeks to overturn the Ruling which: (i) annulled the Exploitation Concession of the Company's Crucitas gold project, (ii) invalidated the original approval of the environmental impact study received in December of 2005 during the Abel Pacheco presidency and the amended environmental impact study received in February of 2008, and (iii) invalidated the Presidential Decree declaring the project to be in the national interest received in October of 2008. The apparent situation where a lower court, the TCA, ignores or discounts the ruling of a higher court, in this case a ruling by the Constitutional Chamber of the Supreme Court ("SALA IV") received in April 2010, has implications for the broader business and legal community in Costa Rica. The Company is seeking to re-establish the security and value of its considerable and long term investments in Costa Rica and to reverse the negative impact that the Ruling has had with respect to the Company's share price and the inherent negative impact on its investors and employees. The Company wishes to emphasize that acceptance of the Casación by the SALA I cannot be equated to a decision granting the relief requested in the Casación and that the Company makes no representation as what the nature and timing of the SALA I's decision will be. The goal of the Company continues to be to construct the Crucitas mine as a model of sustainable mining incorporating the highest of environmental standards and with leading social programs focusing on the poor rural communities surrounding the project area.  In a time when Costa Rica, like many countries, is facing daunting fiscal constraints the expected royalty, tax, and economic benefits that the Crucitas project offers to Costa Rica are substantial . The Company also informs investors that the arbitration hearing, (the "Hearing") against the Bolivarian Republic of Venezuela ("Venezuela") dealing with the Las Cristinas case took place between October third and October sixth, 2011 in Washington DC.  The Company is seeking compensation for what it alleges is the confiscation of the mining concessions over the large Las Cristinas gold and copper concession located in eastern Venezuela. 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, whether the negative impacts of the Ruling on the Company can be reversed by the Casación, that the Casación may be unsuccessful or that other legal options may be unavailable or unsuccessful at restoring the Company's rights or value. These statements are made as of the date of this release but the Company undertakes no obligation to update these statements or any related forward-looking information if circumstances or management's estimates or opinions should change. With respect to the arbitration against Venezuela the Company advises that there is no certainty regarding the nature and timing of the ruling of the arbitral tribunal on the Las Cristinas case and, if successful, that there is no certainty on the amount of a monetary award, if any.  There is also uncertainty as to whether Venezuela would actually pay all, or part, of an award and the timing of any such payment. 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." Infinito Gold Ltd. CONTACT: INFINITO GOLD LTD.600, 1100 1stStreet S.E.Calgary, Alberta T2G 1B1Telephone: (403) 444-5191

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