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| | July 07, 2010
CORAL DRILLS 5 FT OF 0.4891 OZ/T GOLD AT ROBERTSON PROPERTY, CRESCENT VALLEY, NEVADA
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| | Coral Gold Resources Ltd. (the "Company") is pleased to announce initial gold results from its recent RC drill program on the Triplet Gulch zone at Coral's Robertson property, Nevada USA.
The program consisted of 12 vertical 600 ft depth reverse circulation holes at 500 ft spacing. Hole locations can be viewed on Coral's website www.coralgold.com The program started 1 June and was completed 22 June.
Coral has received gold assay results from holes CR10-1 through CR10-9. Intersections over cut off grade of 350 ppb (0.0103 oz/ton) are as follows:
Hole Depth from to ft Au(ppb) Au(oz/ton)
CR10-1 0 -- 10 788 0.0234
130 -- 135 440 0.0128
155 -- 160 383 0.0112
195 -- 220 388 0.0113
225 -- 260 389 0.0114
280 -- 295 487 0.0142
460 -- 480 579 0.0169
555 -- 560 508 0.0148
585 -- 600 351 0.0103
CR10-2 135 -- 140 789 0.0230
215 -- 245 1,180 0.0337
incl 235 -- 240 4,630 0.135
320 -- 340 710 0.0171
360 -- 370 1505 0.0437
460 -- 465 1020 0.0298
510 -- 520 656 0.0195
580 -- 585 492 0.0143
CR10-3 20 -- 25 733 0.0214
285 -- 295 1,117 0.0325
350 -- 360 624 0.0182
490 -- 495 350 0.0102
515 -- 535 1,385 0.0404
585 -- 595 555 0.0162
CR10-4 10 -- 15 1,430 0.0417
320 -- 330 745 0.0217
500 -- 505 417 0.0122
580 -- 600 881 0.0258
CR10-5 105 -- 110 970 0.0283
125 -- 135 548 0.0160
310 -- 325 631 0.0184
350 -- 355 534 0.0156
390 -- 395 483 0.0141
430 -- 440 591 0.0114
480 -- 485 713 0.0208
500 -- 515 444 0.0129
585 -- 595 872 0.0254
CR10-6 320 -- 325 433 0.0126
335 -- 340 406 0.0118
CR10-7 80 -- 100 3,988 0.1164
incl 95 -- 100 14,300 0.418
390 -- 405 575 0.0168
570 -- 575 422 0.0123
CR10-8 60 -- 65 1,585 0.0463
75 -- 80 479 0.0140
185 - 210 1,552 0.0484
365 -- 380 666 0.0195
515 -- 550 564 0.0164
560 -- 565 376 0.0110
CR10-9 75 -- 85 8,817 0.2575
(incl 75 -- 80 16,750 0.4891
180 -- 185 539 0.0157
385 -- 390 557 0.0162
The program was supervised and all samples were collected by Robert McCusker qualified person for NI43-101 and were fire assayed by ALS Chemex Labs using an AA finish.
For more information on the Robertson Property and Coral Gold's other Nevada projects, visit the company's website at www.coralgold.com
ON BEHALF OF THE BOARD
"David Wolfin"
___________________________________
David Wolfin
President
Safe Harbour Statement - This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including our belief as to the extent and timing of various studies including the PEA, and exploration results, the potential tonnage, grades and content of deposits, timing and establishment and extent of resources estimates. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.
Such factors and assumptions include, among others, the effects of general economic conditions, the price of gold and silver, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking information. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers, directors or promoters of with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the our common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
Cautionary Note to United States Investors - The information contained herein and incorporated by reference herein has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States securities laws. In particular, the term "resource" does not equate to the term "reserve". The Securities Exchange Commission's (the "SEC") disclosure standards normally do not permit the inclusion of information concerning "measured mineral resources", "indicated mineral resources" or "inferred mineral resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by SEC standards, unless such information is required to be disclosed by the law of the Company's jurisdiction of incorporation or of a jurisdiction in which its securities are traded. U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Disclosure of "contained ounces" is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
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