Affinity Gold Corp. Enters Into Mineral Lease Agreement on Its Flagship Project

Affinity Gold Corp. (AFYG.pk) (“Affinity” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Affinity Peru, S.A.C., entered into a mineral lease agreement (the “Agreement”) with Consorcio Misenia, S.A.C. (“Misenia”), a Peru-based company, on February 29th, 2012, with its flagship project in Carabaya, Puno, Peru.

Under the lease agreement, Affinity will earn 15% of net production while maintaining 100% ownership of the mineral concessions. The lease period will be for five (5) years with an option to renew but no option to purchase. Misenia has provided a $50,000 deposit to Affinity which becomes non-refundable upon Affinity successfully receiving its Environmental Impact Study approval.

Immediately, the parties are focused on two fronts:

1) Completion and approval of the Environmental Impact Study, and

2) Additional exploration and verification of pre-feasibility studies

Additional exploration and verification of pre-feasibility data will confirm location, type and scale of pilot plant to install.

“This agreement with Misenia provides Affinity a partner with the financial capacity, industry knowledge and local presence in Peru to help move this project forward successfully,” said Corey Sandberg, President and CEO. “Our focus now is on the environmental approval process which we have already begun. Once necessary approvals and permits are received, the goal will be to reach a production capacity of 5,000 m³/day within 9-12 months after successfully establishing the pilot plant.”

About Consorcio Misenia, S.A.C.

Based in Miraflores, Lima, Peru, Consorcio Misenia, S.A.C. is part of a consortium of companies active in mining, real estate investment and development, architectural design and construction, and business management & consulting.

About Affinity Gold Corp.:

Affinity Gold Corp. is a mineral exploration and development company engaged in the acquisition, exploration and development of gold mineralization properties internationally. Affinity Gold Corp.’s current primary focus is gold exploration in Peru.

www.affinitygold.com

For further information please refer to the Company’s filings with the SEC on EDGAR available at www.sec.gov

FORWARD-LOOKING STATEMENTS

Statements in this news release, which are not purely historical, are "forward-looking statements", including any statements regarding beliefs, plans, expectations or intentions regarding the future about Affinity Gold Corp., and its subsidiaries. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Such risks and uncertainties may include, but are not limited to, the risks and uncertainties such as the ability to obtain additional financing, the ability to manage growth, acquisitions of technology, equipment or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel, the risks inherent in exploration and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company’s periodic reports filed from time-to-time with the SEC. This news release shall not constitute an offer to sell or the solicitation of an offer to buy.

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