CVB Compass Gold Corporation

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Compass Gold Corporation (TSX VENTURE:CVB) ("Compass" or the "Company"), which
is focused on gold exploration on four properties in Mali, Africa's third
largest gold producer, today announces the closing of a non-brokered private
placement of 13,035,714 shares at a price of C$0.035 per share for gross
proceeds of C$456,250.01 (the "Offering"). 


Compass will apply the net proceeds of the Offering to the payment of current
creditors, exploration work in Mali through its wholly owned subsidiary Africa
Mining SARL, and for general working capital purposes. Specifically, $98,000 of
the proceeds will be applied to outstanding creditors, $275,000 for operational
expenses on the Company's projects in Mali, $50,000 towards its CEO's salary,
and the balance to general operating expenses (including the costs of the
Offering).


The payment towards its CEO's salary represents the only amount being paid to
insiders of the Company from the proceeds of the Offering.


In connection with the Offering, Compass paid cash compensation to eligible
finders, of $17,501.75.


All securities issued or issuable under the offering are subject to a four-month
hold period expiring on July 19, 2013, in addition to such other restrictions as
may apply under applicable securities laws in jurisdictions outside of Canada.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the company's securities in the United States. The
securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the 1933 Act), or any state securities laws
and may not be offered or sold within the United States or to U.S. persons
unless registered under the 1933 Act and applicable state securities laws, or an
exemption from such registration is available.


About Compass Gold Corporation

Compass Gold Corporation, a Tier 2 mining issuer listed on the TSX Venture
Exchange, is focused on gold exploration in Mali, Africa's third-largest
producer of gold. Compass, through its wholly owned subsidiary, Africa Mining
SARL, owns a 100% interest in 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
an aggregate of 1,138 sq kms in key gold-producing regions in south west Mali,
West Africa. Further information is available at www.compassgoldcorp.com.


Forward-Looking Information

This press release may include forward-looking statements or information,
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 plans for completion of the proposed non-brokered private
placement and capital expenditures are subject to all of the risks and
uncertainties normally incident with the raising of capital including, but not
limited to, financing risks, general economic, market or business conditions,
inflation and costs of goods and services. 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. Compass Gold Corporation does
not assume the obligation to update any forward-looking statement, except as
required by applicable law.


COMPASS GOLD CORPORATION

James Henderson, Chairman

FOR FURTHER INFORMATION PLEASE CONTACT: 
Compass Gold Corporation
James Henderson
Chairman
+1 (604) 638-8067
+1 (604) 648 8105 (FAX)
info@compassgoldcorp.com
www.compassgoldcorp.com

Grafico Azioni Compass Gold (TSXV:CVB)
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