CVB Compass Gold Corporation

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


Highlights



--  Yanfolila Project: Diamond core drilling program is ongoing at the
    Solona target with 13 inclined holes completed to date. Initial results
    due by June 2012. 



Yanfolila Project - Drilling

A 3,000m diamond drilling program designed to assess the gold mineralization at
the Solona target is ongoing and remains unaffected by recent political
activities in Mali (see below).


To date, 13 inclined holes (1,690m) have been completed of a 3,000m program.
First assay results are expected in early June, as the laboratories have a
backlog of samples. It is anticipated that the results of this program will
further define the width, depth and strike length of the mineralization at the
Solona target as a first stage in Compass' aim to define a NI-43-101 compliant
mineral resource by 2013.


Mali Returns to Civilian Rule with Appointment of New Transitional Government 

Last week, the Mali junta and the 15-state Economic Community of West African
States (ECOWAS) agreed to a timetable for a return to constitutional rule and
elections following the March 22, 2012 overthrow of President Amadou Toumani
Toure in a military coup that sparked international condemnation. Under the
agreement, parliamentary speaker Dioncounda Traore has been sworn in as the new
interim President.


President Traore's first act was to appoint Mr Cheick Modibo Diarra as the
country's new Prime Minister. Mr Diarra is an accomplished astrophysicist who
has had a distinctive career at NASA (National Aeronautics and Space
Administration - United States), and served as Chairman for the Microsoft
Corporation in Africa. They are charged with leading the country's transitional
government until democratic presidential elections are held.


We view the military Junta's recent agreement with ECOWAS, which has led to the
restoration of constitutional order, as a positive step for the country in
re-establishing political stability with a view to holding free and fair
democratic presidential elections in the near future.


Dandoko - Drilling Arrangements

Compass Gold is pleased to announce that a new RC drilling contractor, Forage
Technic Eau, a Canadian company with 28 rigs operating in West Africa, has been
awarded a contract for drilling a minimum of 2,500m on the 4 targets of the
Dandoko license. This drilling is expected to start in mid-June, after
completion of temporary import documentation. The drilling contract previously
awarded to GX-Mines, a company from neighboring Niger, has been terminated for
poor performance.


About Compass

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, Moussala, 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 timing of the drilling
of exploration holes at the Yanfolila and Dandoko permits and the expectations
of exploration results, including identified gold targets, the expectations for
mineralization on these permits and the expectation of defining a mineral
resource on the Yanfolila permit by 2013, 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 for
the import of the new RC drill rig and technical, operational and environmental
risks associated with gold exploration including but not limited to the accuracy
and success of drilling; sample collection and procedures, final sampling
results and the accuracy of technical evaluation of these results which cannot
be relied upon until final verified independent results are reviewed by Compass.
Additionally, there remains significant political risks in Mali associated with
the recent military coup and the transitional government that remain a concern
until democratic elections have been held in Mali. There can be no guarantee
that the agreement for transitional government will remain in effect and
democratic elections will take place as and when expected. Although to date
there has been no impact on Compass' operations, there are no guarantees that
Compass's operations in Mali will not be impact as a result of these
governmental issues. 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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