CGW

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES.

Corazon Gold Corp. ("Corazon" or the "Company") (TSX VENTURE:CGW) today
announced that it has closed the bought deal private placement previously
announced on March 21, 2011, including the exercise of the over-allotment
option. Wellington West Capital Markets Inc. acted as the underwriter purchasing
11,854,000 common shares at a price of $0.67 per common share for aggregate
gross proceeds of $7,942,180 (the "Offering"). 


Corazon paid the Underwriter a cash commission equal to 6% of the gross proceeds
raised under the Offering and issued to the Underwriter warrants (the
"Underwriter's Warrant") equal to 6% of the number of common shares sold under
the Offering. Each Underwriter's Warrant is exercisable to purchase one common
share at a price of $0.67 for a period of 12 months from closing of the
Offering. In addition, the Company will also pay finder's fees in the amount of
$149,617.70 to one finder in connection with the Offering.


The securities issued by Corazon in connection with this Offering are subject to
a 4-month "hold period" as prescribed by the TSX Venture Exchange and applicable
Canadian securities laws.


The Company anticipates that a second tranche of the private placement,
amounting to up to an additional 146,000 common shares, will close shortly. The
second tranche will be conducted on a non-brokered basis.


Corazon plans to use the net proceeds from the Offering to fund further
exploration work on the Company's Santo Domingo property and for general
corporate purposes. 


This news release is not an offer of Common Shares for sale in the United
States. The Common Shares have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration.


About Corazon

Corazon is a Canadian-based mineral exploration company with its focus on
exploration of the 650-hectare Santo Domingo property in central Nicaragua. The
Santo Domingo property is located 125 kilometres northeast of the capital city
of Managua, Nicaragua, and 10 kilometres east of B2Gold Corp.'s La Libertad
Mine. Corazon's property is entirely surrounded by B2Gold's concession block and
has long been recognized as the original gold discovery in Nicaragua. 


The Santo Domingo - La Libertad area is a mining friendly jurisdiction, with
B2Gold Corp. operating the largest mine (open pit) in the country at La
Libertad. Until Corazon initiated work last year, no modern exploration work has
been completed on the Santo Domingo property. 


ON BEHALF OF THE BOARD

Corazon Gold CORP.

Patrick Brauckmann, President

Disclaimer for Forward-Looking Statements

Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and uncertainties. Words
such as "expects", "intends", "plans", "may", "could", "should", "anticipates",
"likely", "believes" and words of similar import also identify forward-looking
statements. Forward-looking statements in this news release include statements
that: (i) an ongoing trenching and sampling program is expected to further
delineate drill targets for an initial drilling program on the Santo Domingo
property; (ii) that numerous high quality drill targets have been defined by the
mapping and sampling program and it is the Company's intent to prioritize and
test these targets in early 2011; (iii) that the Company believes its
relationship with the community of Santo Domingo will be mutually beneficial
going forward; and (iv) as to the closing of the second tranche of the private
placement. Actual results may differ materially from those currently anticipated
due to a number of factors beyond the Company's control. These risks and
uncertainties include, among other things: (i) an inability by the Company to
undertake or complete its initial drilling program; (ii) any adverse occurrences
that prevent the Company from prioritizing and testing high quality drill
targets in early 2011; (iii) a breakdown in the relationship between the Company
and the community of Santo Domingo; (iv) a downturn in economic conditions in
Nicaragua or internationally; (v) the inherent uncertainties and speculative
nature associated with mineral exploration; (vi) any number of events or causes
which may delay exploration and development of the Santo Domingo property, such
as environmental liabilities, weather, mechanical failures, safety concerns and
labour problems; (vii) an inability by the Company to finance operations and
growth; and (viii) other factors beyond the Company's control. These
forward-looking statements are made as of the date of this news release and,
except as required by applicable laws, the Company assumes no obligation to
update these forward-looking statements, or to update the reasons why actual
results differed from those projected in the forward-looking statements.

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