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Overview Robertson Excluded
Norma Sass
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Norma Sass, an early exploration-stage project located immediately south of the Gold Acres open pit mine and west of the Pipeline open pit mine, represents a significant exploration target. Previous drilling at Norma Sass encountered gold hosted by favorable, lower-plate carbonate strata. The property operates under a joint venture with Levon Resources Ltd. (Coral Gold 67%/Levon Resources 33%).

New Agreement with Barrick Gold Mines
Coral entered into an exploration, development and mine operating agreement with Barrick in 2009. Under the agreement, Barrick holds the option to acquire up to a 75% interest in the Norma Sass Property.

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 the Company 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 the Company's and Levon's joint interest by paying US $6 million and granting them a 2% net smelter returns royalty. In May 2009, Barrick announced that plans are underway to do target delineation work in Q2 followed by deep drilling in Q3 at Norma Sass.

Barrick Offers Outstanding Potential for Exploring Norma Sass
The property's proximity to Pipeline offers the deep discovery potential Barrick is pursuing. With their fresh perspective on the district, and their immediate and long term commitment to expanding their gold resource base, we know that we have the best partner in the industry for this property. Barrick has completely remapped and reinterpreted the Pipeline open pit geology since their acquisition of Placer Dome and have a new stratigraphic model for the host rocks and structural setting of the gold deposit. We believe that applying these new insights to unraveling the deep potential of Norma Sass is an ideal approach.

Geology - on the Margin of the Gold Acres Structural Window
The claims are situated on the southwest margin of the Gold Acres structural window in folded and faulted, early to middle Paleozoic siliciclastic strata of the upper plate of the Roberts Mountains thrust fault. These rocks overlie mildly deformed, coeval lower plate carbonate strata that hosts major Carlin-type gold deposits at the near-by Gold Acres and Pipeline/South Pipeline open pit mines. Lower plate carbonate rocks are not exposed on the Norma-Sass claims, but have been intersected in most drill holes. A series of important northeast striking normal faults extend southward from the Gold Acres pits on to the Norma-Sass claims. These faults are considered potentially important ore-controlling structures. At the Gold Acres mine, located 2,000 ft north of the claims, a mineralized shear zone in the Roberts Mountains Fm dips southward toward the Norma-Sass claims, suggesting potential for discovery of gold mineralization at a depth of less than 1,500 ft.

Significant Gold Intercepts
Exploratory drilling on the Norma-Sass claims by Coral and Cortez Gold Mines returned a number of significant gold intercepts at depths ranging from 110 ft to 1,060 ft, which are associated with strongly developed Carlin-type trace element anomalies in variably altered lower plate carbonate rocks of the Devonian Wenban Limestone. The favorable Roberts Mountains Fm has not been encountered in any of these drill holes. A map showing the location of the Norma-Sass claim block along with existing drill holes is presented in Figure 5. Gold assays and trace element analysis for selected drill holes on the Norma-Sass claims are shown in Table 5.

Table 5
Gold and Carlin-Type Trace Element Geochemistry From Norma-Sass Claims 


Hole ID  From(ft)  To(ft)  Au, oz/t  As(ppm)*  Sb(ppm)*  Hg(ppm)*
-----------------------------------------------------------------
NS95-1     150      160     0.042     1,702      13        N/A
-----------------------------------------------------------------
           180      220     0.031     1,305      21        N/A
          -------------------------------------------------------
 260      390     0.024       515       8        N/A
-----------------------------------------------------------------
NS95-2     460      580     0.006       598       3        N/A
-----------------------------------------------------------------
NS95-3     470      530     0.027       769       7        N/A
          -------------------------------------------------------
including  520      530     0.055       906       9        N/A
-----------------------------------------------------------------
NS95-4     110      130     0.019     1,934      31        N/A
          -------------------------------------------------------
           350      400     0.021       706       9        N/A
          -------------------------------------------------------
including  350      360     0.040       828       1        N/A
-----------------------------------------------------------------
NS95-7     730      750     0.023       755       4        N/A
-----------------------------------------------------------------
NS95-8     280      310     0.023     1,503      17        N/A
          -------------------------------------------------------
           510      510     0.055       797      15        N/A
-----------------------------------------------------------------
GA01-02    970     1040     0.004     1,373      24       2.29
-----------------------------------------------------------------
GA01-03    920      970     0.007       623       5       0.43
-----------------------------------------------------------------
GA01-04    530      630     0.004        63      16       2.28
-----------------------------------------------------------------
*Arsenic and antimony analysis by ICP, mercury by AAS, using 
 aqua-regia digestion. N/A; analyses not available.
Exploration Concept
Past drilling has encountered significant Carlin-style gold mineralization, including narrow ore-grade intervals (up to 40 ft/0.053 oz Au/t) and a strongly developed trace element suite within favorable lower plate carbonate strata. However, past drilling has failed to reach the Roberts Mountains Fm, the principal host rock for the major disseminated gold deposits in the district, including Pipeline/South Pipeline and Gold Acres, as well as the nearby Cortez-area gold deposits. According to McCormack and Hays (1996), gold mineralization at Pipeline, along with most of the other major gold ore bodies at the south end of Crescent Valley, including Gold Acres, is strongly controlled by sub-horizontal and/or bedding parallel shear zones within the Roberts Mountains Fm. At Gold Acres, gold is controlled by a shear zone within the Roberts Mountains Fm that dips to the south at 15° to 20°, sub-parallel to the Roberts Mountain Thrust Fault. This shear zone is thought to extend under portions of the Norma-Sass claims. The highest grades at Gold Acres were encountered where NE-trending high angle faults intersect the shallow dipping shear zone. The Roberts Mountains Fm and a potentially important gold-bearing, low-angle shear zone, are estimated to be less than 1,500-ft-deep under portions of the Norma-Sass claims. Figure 6 is a cross section summarizing the subsurface structural and lithologic features at the Norma-Sass claims. The conceptual target is potential high-grade (>0.50 oz Au/t) Carlin-style gold mineralization hosted by sheared carbonate strata in the upper 150 ft of the Roberts Mountains Fm.