CLH Coral Gold Resources Ltd

Coral Gold Resources Ltd. (the "Company") (TSX
VENTURE:CLH)(OTCBB:CLHRF)(FRANKFURT:GV8)(BERLIN:GV8) reports that as a result of
a review by the British Columbia Securities Commission ("BCSC"), we are issuing
the following news release to clarify our disclosure.


The BCSC has identified two principal areas of disclosure issues relating to the
technical Report filed by the Company, and regarding technical disclosures made
by the Company, as follows:




A.  TECHNICAL REPORT ISSUES



A current NI 43-101 compliant technical report dated January 15, 2012 entitled,
"Preliminary Economic Assessment on the Robertson Property, Lander County,
Nevada, U.S.A." was filed on SEDAR on February 2, 2012. This technical report
supports total inferred mineral resources of 2,741,673 oz. Au, contained in
191,725,418 tons, grading 0.0143 oz Au/t, with a 0.0067 oz Au/t cut-off grade,
and were shown for each zone divided into oxide or sulphide deposits. The
cut-off grade was determined based on the following key assumptions and
criteria: a mining cost of US$1.02/t, processing cost of US$5.00/t, waste cost
of US$1.14/t, and gold at US$1,350/oz with a 70% recovery. In addition, these
economic parameters were used to calculate an optimized pit, which formed the
basis for the pit design within the preliminary economic assessment ("PEA").


The January 15, 2012 report does not include tonnage and grade estimates for the
Distal Zone and the main sulphide area of the 39A zone. This is because these
areas of gold mineralization are not within the pit design areas. The two zones
do, however, represent prime targets for further exploration. Coral has
instructed Beacon Hill Consultants (1988) Ltd. to amend the January 15, 2012
report to include these zones in compliance with current NI 43-101 requirements.


The BCSC's review also identified a number of examples where the technical
report does not comply with the requirements of NI 43-101. These include the
following:




1.  Failure to file NI 43-101 Compliant Certificates



The certificates are being amended to state the items for which each Qualified
Person ("QP") is responsible.


Some certificates referred to the title of the report as "Preliminary Economic
Assessment on the Robertson Property, Elko, Nevada, USA". These have been
amended so that they match the title of the report.




B.  ADDITIONAL TECHNICAL DISCLOSURE ISSUES

1.  Unsupported Disclosure



In its Management Discussion and Analysis ("MD&A"), news releases, website, fact
sheet, corporate presentation, newsletters, analyst reports and video
interviews, the Company referred to its 2009 inferred mineral resource estimate.
This estimate is not supported by the Company's current technical report that
discloses an updated inferred resource estimate of 2.7 million ounces of gold
and has been removed from the Company's website.


In the corporate video, the Company also disclosed a mineral resource estimate
that is not supported by the current technical report. This is not in compliance
with NI 43-101, and the video has therefore been removed from the Company's
website.




2.  Non-Compliant Disclosure of Mineral Resources



On its corporate presentation, news releases, MD&A, analyst reports and video
interviews the Company disclosed mineral resources or mineral reserves that are
contrary to section 2.2 of NI 43-101. For example:


a) On slides 4, 17 & 18 of its corporate presentation, the Company disclosed
mineral resources or mineral reserves without disclosing the category. Under
section 2.2 (a) and 2.3(1)(a)of NI 43-101, the Company must use only the
applicable resource categories (measured, indicated and inferred or proven and
probable). This error also occurred in many of the interviews, newsletters and
analyst reports posted on the Home, Research Reports and Media pages of the
Company's website.


b) Contrary to section 2.2(b), in its message to shareholders titled "A Window
of Opportunity, the Company failed to disclose each category of mineral
resources or mineral reserves for the Cortez trend separately. 


c) Contrary to section 2.2(c), in its message to shareholders titled "A Window
of Opportunity, the Company added inferred mineral resources to other
categories.


d) Contrary to section 2.2 (d), in its MD&A, the "About Coral Gold" portion of
its news release during the last year and in many of the analyst reports and
newsletters posted on the Company's website, the Company disclosed resources
solely in the form of metal content.


e) On slide 4 of its corporate presentation, the Company disclosed a mineral
resource without providing all the necessary information required by section 3.4
(a), (c), (d) and (e).


These errors have all been either corrected or removed from the Company's
website. For data such as handouts and MD&A which cannot be withdrawn from
circulation, investors should be aware of the errors and changes noted above.




3.  Non-Compliant Disclosure of Preliminary Assessment



On its Fact Sheet, the Company referred to the results of an economic
evaluation, including a NPV that was based in part on inferred resources (the
PEA). This disclosure is contrary to NI 43-101, as it does not include the
proximate cautionary language and details required under section 2.3(3).


The Fact Sheet has therefore been removed from the Company's website and should
not be relied upon. 


The Company will include the following cautionary language in equal prominence
in its disclosure on inferred mineral resources:

"The PEA is considered preliminary in nature and includes inferred mineral
resources that are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be categorized as
mineral reserves. Mineral resources that are not mineral reserves have not yet
demonstrated economic viability. Due to the uncertainty that may be attached to
inferred mineral resources, it cannot be assumed that all or any part of an
inferred mineral resource will be upgraded to an indicated or measured mineral
resource as a result of continued exploration or mineral reserves once economic
considerations are applied. Therefore there is no certainty that the production
profile concluded in the PEA will be realized." 


In addition, in the Resource Clips interview titled "Do the Math" posted on the
Company's website, and also in the 2012 PDAC interview video posted on the
Company's website the Company made statements about the PEA which contradict the
definition of a PEA, and do not include the cautionary language required by
section. 2.3 (3)(a) and section 3.4(e) of NI 43-101.


The Resource Clips and PDAC interview have been removed from the Company's
website, should not be relied upon, and are hereby retracted.




4.  Reporting Gross In-Situ Metal Value



In the Resource Clips interview titled "Do the Math" posted on the Company's
website and slide 17 of the corporate presentation, the Company disclosed gross
in-situ metal value for its Robertson project. The use of gross in-situ value is
meaningless as it fails to take into consideration operating and capital costs,
recoveries, smelter costs and other factors relating to the potential mining,
extraction and recovery of metals.


The Resource Clips and corporate presentation have been removed from the
Company's website, should not be relied upon and are hereby retracted.


5. Qualified Person

On its website, the Company fails to identify and disclose the relationship to
the Company of the qualified person who prepared or supervised the preparation
of the technical information it is disclosing. Under section 3.1 of NI 43-101,
the Company must do this for all written disclosure of technical information.


In future Coral will identify the QP responsible for all disclosures.

This press release has been reviewed and approved by Chris Sampson, P. Eng.,
director of the Company, the qualified person for the Company as defined by NI
43-101.


ON BEHALF OF THE BOARD

David Wolfin, President & Chief Executive Officer 

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Coral Gold Resources Ltd.
David Wolfin
President & Chief Executive Officer
604.682.3701
604.682.3600 (FAX)
info@coralgold.com
www.coralgold.com

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