Coral Gold Resources Ltd. ("Coral") (TSX
VENTURE:CLH)(OTCBB:CLHRF)(BERLIN:GV8)(FRANKFURT:GV8) is pleased to announce that
Barrick Cortez Gold Mines ("Barrick") have notified Coral that the planned
drilling program at Coral's 2/3 owned Norma Sass property (Levon Resources Ltd.
1/3) will commence in the first week of October.


The current proposed drilling will consist of two mud rotary holes with target
depths on the order of approximately 1,800 to 2,000 feet to test structural and
geochemical targets in the Lower Plate carbonate sequence, with the potential to
go deeper as the rock dictates.


The Norma Sass property is situated in the Crescent Valley, Nevada, USA
approximately 1 mile south west of Barrick's former producing Gold Acres, open
pit mine and two miles west of Barrick's currently producing Pipeline Mine.


Barrick is currently earning an interest of up to 75% in the Norma Sass property
under the terms of the September 28, 2008 agreement.


Barrick may earn a 60% interest by incurring total exploration expenditures of
at least US$3 million in annual installments by December 31, 2014. Barrick may
earn an additional 10% (for an aggregate interest of 70%) by incurring an
additional US$1.5 million by December 31, 2015. Barrick may earn an additional
5% (for an aggregate interest of 75%) by carrying Coral and Levon through to
commercial production.


Alternatively, at the time of earning either its 60% or 70% interest, Barrick
may be given the option to buy-out Coral's and Levon's joint interest by paying
US$6 million and granting them a 2% net smelter return royalty.


The drill contractor is Lang Exploratory Drilling of Elko, Nevada using an LM120
rig.


The program is expected to take six weeks.

This news release is prepared by Chris Sampson, P.Eng, Qualified Person for
NI43-101 and VP Exploration of Coral.


Coral is a natural resources company, primarily engaged in the acquisition,
exploration and development of natural resources properties, focusing on gold
exploration. Its principal business activities have been the exploration of
mineral properties located in Nevada, USA, including the Robertson Property,
Norma Sass Property, and Ruf Claims.


ON BEHALF OF THE BOARD

David Wolfin, President

This release contains statements that are forward-looking statements and are
subject to various risks and uncertainties concerning the specific factors
disclosed under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such information contained
herein represents management's best judgment as of the date hereof based on
information currently available. The Company does not assume the obligation to
update any forward-looking statement.


Coral Gold Resources (TSXV:CLH)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Coral Gold Resources Charts.
Coral Gold Resources (TSXV:CLH)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Coral Gold Resources Charts.