CVB Compass Gold Corporation

Compass Gold Corporation (TSX VENTURE:CVB) ("Compass" or the "Corporation") is
pleased to provide the following update regarding its exploration activities.


Highlights



--  Yanfolila Permit: Assay results for the first 2 shallow inclined diamond
    drill holes show gold mineralization from near surface to 50m depth and
    include assays of: 
    --  SD31: 9m @ 3.00 g/t at a depth between 18m and 26m 
    --  SD32: 26m @ 7.17 g/t (uncut) including 1 high value of 174 g/t which
        intersection would reduce to 26m @ 2.94g/t using a top cut of 30g/t.

--  Dandoko Permit: RC drilling is ongoing on the Bemballa target with 12 of
    20 holes completed; 
--  Yanfolila and Kolondieba permits renewed for a further 3 year period. 



Yanfolila Permit - Drilling

9 shallow vertical holes have been drilled in order to complete the 30 hole
diamond drilling program initiated in May 2011. Assay results for these holes
did not return any significant gold mineralization. However, 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 (refer to the Company's news releases dated July 19, 2011 and August 10,
2011).


Following the conclusion of the 30 hole diamond drilling program discussed
above, the Company commenced a diamond drilling program consisting of 10
inclined shallow holes (60 degree incline) targeting the mineralization from
surface to 50m below surface and over a 1 km strike length. The locations and
orientations of these drill holes are shown in the map below.


To view the map accompanying this press release please visit the following link:
http://media3.marketwire.com/docs/CVBMap26.pdf


9 of the 10 holes have been completed and assay results received for the first 2
holes. Both holes show gold mineralization at depth varying from 8m to 52m, with
hole SD32 ending up in mineralization at a depth of 52m. 


Results are as follows:



---------------------------------------------------------------------------
Drill                                           Core                  
hole No   From    To   Interval     Au g/t Recovery%   Comment             
---------------------------------------------------------------------------
SD31        18    27          9   3.00 g/t        89                     
---------------------------------------------------------------------------
SD32        26    52         26   7.17 g/t        97   Uncut               
---------------------------------------------------------------------------
SD32        26    52         26   2.94 g/t        97   With the 174 g/t    
                                                       value cut to 30 g/t 
                                                      (note: 8m barren zone
                                                       between 35 and 42m) 
---------------------------------------------------------------------------



These are encouraging results as they demonstrate the presence of mineralization
in the weathered material from surface to at least 50m below surface.


A 3,000m diamond drilling program designed to assess the gold mineralization at
Solona will start in the next week, as a larger diamond drill rig has arrived in
country and is clearing customs. This larger rig will be used to test
mineralization at greater depth (to bedrock at 100m to 150m's below surface) at
both the Solona target at the Yanfolila permit and the Bemballa target at the
Dandoko permit. 


It is anticipated that the results of this program will further define the
width, depth and strike length of the mineralization at Solona, as a first stage
in defining a NI-43-101 prospective resource on the Company's properties
initially focused on the Yanfolila permit. 


Dandoko Permit - drilling

A 20 hole RC drill program is underway at the Bemballa target to test the gold
mineralization in the oxidized rock between surface and depth of 50m. 12 holes
have been completed and assay results are expected in early March 2012.
Following completion of the RC drill program and analysis of assay results, the
Company plans to complete part of the 3,000m diamond drilling program over
selected targets on the Dandoko permit.


Yanfolila Sampling Protocols

All drilling at the Yanfolila permit has been carried out by M-Consulting, using
an APAFOR 450 wire-line diamond core drill rig and HQ size rods. All holes are
started and finished in saprolitic materials in HQ. Each core is split using a
stainless steel knife (as the core is mainly clay material). One half of the
core is kept in the core box and stored in a covered and secure core shed. Core
samples are collected in plastic bags, numbered outside and a tag is placed
inside the bag. All samples are taken from site by Africa Mining personnel and
delivered to the ALS laboratory, Bamako, Mali, under secure "chain of custody"
procedures. Samples are fine crushed to 70% less than 2mm, pulverized and split
to 85% less than 75 um. Gold is assayed by fire assay (50g charge) with FA AA
Finish. Sample pulp is returned from the ALS laboratory under secure "chain of
custody" procedure by Africa Mining staff and also stored in a secure location.


To guard against possible 'nugget affect' all anomalous samples will be
re-analysed using fire-screen assays on archived half-core and, latterly (from
SD31), previous assay pulps. This includes the 26m interval between 26-52m in
SD32.


Permits renewals

The Company is pleased to confirm the Yanfolila and Kolondieba permits have been
renewed for a further 3 year period. As part of the renewal process, 50% of the
area of each permit was relinquished. The Company has re-applied for permits
covering the relinquished areas that do not form part of the Company's focus
area for exploration at this time.


The Company also confirms it is currently finalizing the terms of a new research
permit, Sirakourou. Sirakourou is located adjacent to the east of Solabougouda.
The addition of this permit, including all permits under application, will
increase the total permit area to 1,138 sq km's, representing a significant land
holding in the prospective gold producing areas of Mali. 


Dr Albert Wilkinson MIMMM, FGS. C.Eng. is a "qualified person" within the
meaning of National Instrument 43-101, has reviewed and approved the scientific
and technical information contained in this release, including verification of
sampling procedures, the assaying procedures of ALS Laboratory and "chain of
custody" procedures.


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, through its wholly-owned subsidiary Africa Mining, owns four
gold exploration permits (Yanfolila, Dandoko, Kolondieba and Solabougouda) as
well as holding applications over a further four areas, Mousala, Sirakourou,
Yanfolila East and Kolondieba Nord) covering a total of 1,138 sq km's 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
exploration results, including identified gold targets and expectations for
mineralization at the Yanfolila permit and statements relating to Compass's
application to acquire new permits covering relinquished areas of Africa
Mining's existing Yanfolila and Kolondieba permits and the new permit
Sirakourou, are subject to all of the risks and uncertainties normally incident
with undertaking mineral exploration in Africa, including but not limited to:
the risk that necessary governmental approvals will not be obtained in respect
of new permits for relinquished areas; and technical, operational and
environmental risks associated with gold exploration including but not limited
to final sampling results and accuracy of technical evaluation which cannot be
relied upon until final verified independent results are reviewed by Compass.
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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