CVB Compass Gold Corporation

Compass Gold Corporation (TSX VENTURE:CVB) ("Compass" or the "Corporation")
announces that, following the rainy season in Mali, field-work has re-commenced
on the four exploration gold research licenses in which it holds a 100% interest
through its wholly-owned subsidiary, Africa Mining SARL ("Africa Mining").


Highlights:



--  Final holes of 2011 scout drilling program underway at Yanfolila 
--  5,000m diamond drilling program commencing February 2012 on Yanfolila
    permit 
--  3,600m RC drill program commencing late December 2011 on Dandoko permit 
--  Geochemical sampling and mapping program underway on Kolondieba and
    Solabougouda permits



Yanfolia Permit - Drilling Program

Scout diamond drilling has recommenced at the Solona Main prospect, the most
advanced prospect on the Yanfolila permit. Based on previous exploration by
Africa Mining, gold mineralization appears to be associated with quartz veins
and, locally, within the host rocks in association with a north-northeast
trending structure. 


The scout drilling program comprises seven shallow (50m deep) vertical holes
which will complete the 30 hole, 1,500 meter diamond drilling program commenced
in May 2011. Initial assay results from the first 23 holes indicated a broad
zone of gold mineralization at the Solona target including 1.31 g/t Au over 18
meters and 1.59 g/t Au over 13 meters (see Compass news releases dated July 19,
2011 and August 10, 2011). 


Following the completion of the scout drill program in February 2012, a larger
diamond drill rig will commence core drilling initially on the Solona and then
the Yanfolila target. 


Initial core drilling on the Solona target will be comprised of a 3,000m, 20
hole program testing the identified gold mineralization over a 1 km strike
length on drill fences 100m apart. Drilling is scheduled for completion in April
2012.


This drilling program is expected to more closely define the dimensions of the
gold mineralization at Solona. Further diamond and reverse circulation (RC)
drilling programs will be undertaken later in 2012 with the aim of defining a
National Instrument 43-101 ("NI 43-101") compliant inferred mineral resource
early in 2013. 


Following the completion of this initial 3,000m drill program, the diamond drill
rig will move to the Yanfolila East target to undertake a 16 hole, 2,000m
drilling program targeting mineralization over a strike length of 1.6km on drill
fences 200m apart. It is expected that this drilling will be completed by July
2012.


Dandoko - RC Drilling Program

On the Dandoko permit, Compass is mobilizing an RC drill rig for a 3,600m scout
drill program (30 holes) on targets identified early this year from mapping,
gecochemical sampling and the interpretation of a high resolution airborne
magnetic and radiometric survey. Previous assay results returned significant
gold grades up to 70 g/t in rock chip sampling of artisanal mine workings on the
Disse target (see Compass news release dated January 18, 2011). Gold
mineralization will be tested to 50m below surface at the Disse, Bembala,
Diabarou and Gombaly targets.


This scout drilling program is expected to start in the next two weeks, once the
RC drill rig clears temporary import custom formalities. The program is
anticipated to be completed by late February 2012. Following this program, the
RC rig will either return to the Dandoko Bembala target (in the case of positive
assay results) or be mobilized to the Kolondieba permit.


Kolondieba and Solabougouda - Sampling Program

Interpretation of the high-resolution airborne magnetic and radiometric data
collected last May is in its final stage. Newly compiled geological maps and
targets derived from the survey will be released shortly. 


Geochemical sampling, mapping and trenching has started on the Kolondieba and
Solabougouda licenses over new targets identified from the high-resolution
aeromagnetic survey. 


In addition, at the Kolondieba permit, the Company will undertake a trenching
program over portions of the 4km long Koloni gold-in-soil anomaly. Subject to
results, the Corporation anticipates commencing a 2,000m RC drilling program
during the second quarter of 2012.


Additional Permitting

Africa Mining has applied to convert the Moussala permit from an "Authorization
to Explore", to a full "Exploration Research Permit". The Moussala permit is
located in Mali's Western gold belt and in close proximity to targets identified
at the Dandoko project. Initial fieldwork is expected to commence in January
2012 in conjunction with the Kolondieba and Solabougouda sampling program
discussed above. 


About Compass Gold Corporation

Compass Gold Corporation is a Tier 2 mining issuer listed on the TSX Venture
Exchange and focused on gold exploration in Mali, Africa's 3rd largest producer
of gold. Compass owns a 100% interest in 4 gold exploration permits through its
wholly-owned subsidiary, Africa Mining SARL (Yanfolila, Dandoko, Kolondieba and
Solabougouda) as well as an authorization to explore, Moussala, covering a total
of 888 sq km in key gold producing regions in south west Mali, West Africa.
Further information is available at www.compassgoldcorp.com. 


COMPASS GOLD CORPORATION

James Henderson, President

This press release includes "forward-looking statements" including forecasts,
estimates, expectations and objectives for future operations that are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the
control of Compass Gold Corporation. Statements regarding expectations of
drilling and geologic and geochemical results and consequentially Compass's
ability to define a NI 43-101 compliant mineral resource on the Solona target or
mineralization at the Yanfolila East Disse, Bembala, Diabarou and Gombaly
targets are subject to all of the risks and uncertainties normally incident with
undertaking mineral exploration in Africa, including but not limited to
technical, operational and environmental risks associated with gold exploration
including but not limited to proficient drilling, ability to source and retain
skilled labor, assay collection and final sampling results, accuracy of
technical evaluation, the potential for delays in exploration activities and the
preparation of geologic and technical reports, the possibility of project cost
overruns or unanticipated costs and expenses, the geology, grade and continuity
of mineral deposits and the possibility that exploration results will not be
consistent with Compass's expectations. Investors are cautioned that any such
statements are not guarantees of future performance and that actual results or
developments may differ materially from those projected in the forward-looking
statements. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking statement
can be guaranteed and actual future results may vary materially. Compass Gold
Corporation does not assume the obligation to update any forward-looking
statement, except as required by applicable law.

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