CWM Crown Mining Corp

Crown Gold Corporation ("Crown" or the "Company") (TSX VENTURE:CWM) wishes to
announce that it has revised its letter of intent ("LOI") with Argentium
Resources Inc. ("Argentium"), an arm's length Canadian company recently listed
on the Canadian National Stock Exchange. Crown has agreed to grant an option for
80% of Crown's Monte Cristo property in Nevada to Argentium for $6,100,000 in
cash and securities over five years. This LOI supersedes and replaces the
previous LOI signed on March 28, 2011.


Argentium paid a deposit of $100,000 and will issue 2,000,000 shares with a
deemed value of $0.50 each on closing and issue a further $1,000,000 worth of
Argentium shares each annual anniversary for 5 years for a total deemed
acquisition price of $6,100,000. As well, Argentium will commit to spend at
least US$12,000,000 on exploration and development of Monte Cristo over the next
five years. The transaction is subject to a number of conditions, including
approval by each company's board of directors, completion of formal
documentation, and any necessary shareholder and regulatory approvals.


Crown's President and Chief Executive Officer, Stephen Dunn stated, "this
transaction will allow our Monte Cristo property to be rapidly advanced by a
company that is well financed and able to source the necessary funding required
to put Monte Cristo into production. It not only recognizes the hidden value of
this Nevada gold project, but it also allows Crown shareholders to continue to
participate in its ongoing development through Crown's shareholdings in
Argentium."


About Crown

Crown Gold, formed last year by the amalgamation of Crown Minerals and Gold
Summit, is exploring for high grade gold and silver deposits in Nevada and
Ontario.


In Nevada, Crown has NI 43-101 compliant inferred resource at Monte Cristo of
3,158,347 tonnes at a grade of 3.02 g/t gold at a 0.5 g/t gold cut-off, a total
of 306,000 ounces. At Sugarloaf Peak, the Tip Top Mine has a 43-101 compliant
indicated resource of 353,100 tonnes at a grade of 3.27 g/t gold at a 1.0 g/t
gold cut-off, a total of 37,000 ounces. In addition, an inferred resource
amounts to 293,500 tonnes at a grade of 2.47 g/t gold, also at a 1.0 g/t
cut-off, a total of 23,000 ounces.


Crown's three other Nevada properties, Blue Sphinx, Gold Springs and Black
Warrior, all contain well-defined and essentially, undrilled, targets. Gold
Springs, has silver values in surface rock samples that range between 575 g/t
(16.8 opt) and 350 g/t (10.2 opt) silver along a 4 km prominent vein outcrop. A
second, poorly exposed, sub parallel vein to the east assayed 33 g/t gold over a
1.3m true width channel sample. Recent work at Black Warrior confirmed silver
values as high as 14.4 ounces per ton (496 grams/tonne) with 0.07 opt (2.4 g/t)
gold over 0.6 meter in channel chip sampling (see news release of June 7, 2011).
The work was undertaken to confirm the previous reports of grades of 20 opt (685
g/t) silver in hand-sorted ore sent to the old Sunshine mill at Silver Peak in
1983. (The 1983 reports are not compliant with the requirements of NI 43-101
and, accordingly, cannot be relied upon.)


In Ontario, surface work is now proposed at Crown's McKenzie Island property at
Red Lake to evaluate the gold bearing, east-west striking, McAndrews trend where
sheeted quartz carbonate veining is described in old workings. Drilling along
the north west striking Bishops Break trend earlier this year yielded promising
results, including 75 g/t (2.2 opt) gold over 0.91m (3 feet). In northeastern
Ontario, Crown holds three other strategic land positions including one adjacent
to Trelawney's Cote Lake discovery near Gogama.


Larry Kornze, Senior Consultant to Crown Gold and a registered Professional
Engineer/Geologist, is designated as the Qualified Person under National
Instrument 43-101 and has reviewed and approved the contents of this news
release.


For more information please see the Crown website at www.crowngoldcorp.com.

This press release contains forward-looking statements within the meaning of
applicable Canadian and U.S. securities regulation, including statements
regarding the future activities of the Company. Forward-looking statements
reflect the current beliefs and expectations of management and are identified by
the use of words including "will", "anticipates", "expected to", "plans",
"planned" and other similar words. Actual results may differ significantly. The
achievement of the results expressed in forward-looking statements is subject to
a number of risks, including those described in the Company's management
discussion and analysis as filed with the Canadian securities regulatory
authorities which are available at www.sedar.com. Investors are cautioned not to
place undue reliance upon forward-looking statements.

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