Ed's Thread

[Ed Monton]

GLENCAIRN GOLD CORPORATION

TSX SYMBOL: GGG

DECEMBER 11, 2003 - 17:35 ET

Glencairn Begins Construction of Bellavista Gold Mine

TORONTO, ONTARIO--Glencairn Gold Corporation is pleased to
announce it has begun the first phase of construction of its
Bellavista gold mine in Costa Rica. Construction is expected to
be completed in one year, with gold production scheduled to begin
prior to the end of 2004.

Once in commercial production Bellavista will produce 60,000
ounces of gold annually, bringing the Company's total projected
gold output in 2005 to 110,000 ounces. The Company's current gold
production comes from the Limon Mine in Costa Rica, which is
expected to produce about 50,000 oz. gold in 2003.

Operating cash costs at Bellavista are projected at US$163 per
ounce over the 7.3-year life of the mine, based on current
reserves of 11,239,000 tonnes grading 1.54 grams gold per tonne.
Total costs, including all royalties, are projected at US$177 per
ounce.

Sococo de Costa Rica S.A. has been selected as lead contractor
for Phase One of construction. Sococo has been active for many
years in Central America at several open pit heap leach gold
mines. Phase One includes roadwork, installation of liners for
leach pads, process ponds and sedimentation ponds, and
preparatory earthworks for the mill, gold recovery plant, and
administration building.

The total capital cost for construction of Bellavista is
estimated at US$26 million. In November, 2003, Glencairn raised
approximately US$8 million in an equity financing for this phase
of construction and is currently in advanced negotiations with
several financial institutions regarding the remaining financing
for the project.

Bellavista, 100% owned by Glencairn subject to certain royalties,
is located within an industrial free-zone about 70 km west of San
Jose, the national capital. The property is accessible by paved
road and is close to the main power grid, the country's leading
container port, a major fuel supply terminal and a concrete
plant.

Glencairn's Costa Rican subsidiary owns about 1,200 hectares of
land in two large parcels in an area currently dominated by
industrial activity and farmland. The Company plans to create a
300-hectare dry tropical forest on the southern parcel, which is
not used for mining, and conduct a similar re-planting program on
the northern parcel once mining is completed. The Company has
established a nursery nearby, growing directly from seeds of
native species, and has planted more than 20,000 trees on these
lands. When reforestation is complete, the entire property will
be turned into parkland and donated to a community association in
the local county.

To find out more about Glencairn Gold Corporation (TSX:GGG),
visit our website at www.glencairngold.com.

FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended.
Except for statements of historical fact relating to the company,
certain information contained herein constitutes forward-looking
statements. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements
are made, and are subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking
statements. These factors include the inherent risks involved in
the exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
ecological 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 and other factors. The Company undertakes no
obligation to update forward-looking statements if circumstances
or management's estimates or opinions should change. The reader
is cautioned not to place undue reliance on forward-looking
statements.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Glencairn Gold Corporation
Kerry Knoll, President and CEO
[phone]
[phone] (FAX)
www.glencairngold.com
or
Renmark Financial Communications Inc.
Sylvain Laberge
[e-mail]
or
Neil Murray-Lyon
[e-mail]
or
Media: Dominic Sicotte:
[e-mail]
[phone]
[phone] (FAX)