Handeni Gold (OTCBB: HNDI) Lawsuit With Ruby Creek

Orlando, FL 3/8/12 (StreetBeat) -- Handeni Gold Inc. (OTCBB:HNDI). Handeni Gold is hereby responding to a news release issued by Ruby Creek Resources, Inc., ("Ruby Creek") on March 1, 2012 with regards to a lawsuit filed by Ruby Creek against Handeni Gold in the Supreme Court, State of New York, on February 8, 2012.

In the New York lawsuit, Ruby Creek alleges that Handeni Gold participated in a fraudulent transfer of certain mineral property interests in Tanzania that Ruby Creek had the right to purchase pursuant to a series of agreements with Handeni Gold. Ruby Creek's claims are completely unfounded and entirely without merit. Handeni Gold did not at any time breach the agreements or participate in a fraudulent transfer as alleged by Ruby Creek.

Ruby Creek is in fact the party that breached the agreements. As a result, on February 23, 2012, the Company filed a lawsuit against Ruby Creek in the Supreme Court of British Columbia, seeking relief for Ruby Creek's breach of its payment obligations under these agreements and seeking an order that Ruby Creek immediately remove the U.S. restrictive legend from Ruby Creek shares issued to Handeni Gold under the agreements. To date, Ruby Creek is in default with respect to over $1.3 million in scheduled payments due to Handeni Gold under the agreements. In addition, Ruby Creek has refused to allow Handeni Gold to remove the U.S. restrictive legend affixed to the share certificate representing 4,000,000 Ruby Creek shares issued to Handeni Gold as partial consideration to purchase the mineral property interests under the agreements, thereby wrongfully preventing and delaying Handeni Gold from reselling the shares.

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