VPR

Viper Gold Ltd. ("Viper Gold" or the "Company") (TSX VENTURE:VPR) is pleased to
announce the commencement of a 2,000 metres diamond drill program at the Corongo
Property in Ancash Peru.


A Category 1 Drill Permit was granted by the Peruvian Ministry of Energy and
Mines in January 2011 for the Corongo Project which allows for up to twenty
drill platforms on the property. The Permit is valid for a 12 month period
calculated from the initiation date of the work program.


Energold Drilling Peru S.A.C. has been contracted for the Corongo drill program.
One drill rig will be mobilized to the Corongo Project by the end of March.
Energold Drilling has extensive experience drilling in rugged terrain in Peru.
Their drill rigs are modular and man-portable with a small environmental
footprint and are suitable for work in the Andes.


The drill program has been designed to test high priority targets on the Santa
Rosa East and Descubridora areas for sediment-hosted, structurally controlled
gold and silver mineralization. Priority drill targets were selected based on
the geophysical surveys completed in the fall of 2010 and surface mapping,
trenching and sampling results. Significant gold and silver mineralization was
identified by the 2010 sampling program and has been summarized in the Company's
press release dated January 12, 2011 available on the Company's Website at
www.vipergoldltd.com.


Corongo Property 

The Corongo Property is located in the Department of Ancash in the Republic of
Peru, approximately 400 kilometres north of Lima. The property covers an area of
3,100 hectares and is comprised of 11 contiguous claims. The Corongo Property is
located in a portion of the Western Cordillera of Peru that hosts numerous
precious and base metal deposits, including Barrick Gold Corporation's Pierina
and Lagunas Norte gold mines and Compania Minera Antamina S.A.'s Antamina
copper-zinc mine. Viper Gold entered into an option agreement (the "Option
Agreement") with Duran Ventures Inc., whereby Viper Gold can earn a fifty
percent (50%) beneficial interest in the Corongo Property. Viper Gold has
provided funding of US$250,000 for the Phase II exploration program, fulfilling
the first exploration expenditure requirement of the Option Agreement.


QP Statement 

The information in this release was prepared under the direction of Paul Davis,
P.Geo. President and CEO of Viper Gold, and, a Qualified Person as defined in
National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The
exploration program will be carried out under the supervision of Duran Venture's
President, Cary Pothorin, P.Geo., also a Qualified Person as defined in National
Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Davis is
responsible for all technical information contained in this news release.


Company Profile 

Viper Gold Ltd. is an emerging Canadian based junior exploration company focused
on the precious metals potential of the "Gold Corridor" in Northern Peru. 


ON BEHALF OF THE BOARD OF DIRECTORS

Paul C. Davis, President and C.E.O.

Statements in this press release may contain forward-looking information,
including expectations of the results of future exploration and the potential of
the Corongo Property including with respect to the bulk tonnage potential on the
property. The reader is cautioned that assumptions used in the preparations of
such information, including and the ability to find suitable targets, the
ability to negotiate and enforce land access agreements with local communities,
the ability to obtain necessary government approvals for proposed exploration
plans, the ability to control operating costs, commodity price risk management
activity, the ability to make suitable acquisitions and dispositions, and the
ability to access capital and credit facilities may prove to be incorrect.
Events or circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company. These risks
include, but are not limited to, the risks associated with the mining industry,
commodity prices, exchange rate changes, income taxes and regulatory changes.
Industry related risks could include, but are not limited to, operational risks
in exploration, development and production, delays or changes in plans, risks
associated to the uncertainty of reserve estimates, health and safety risks and
the uncertainty of estimates and projections of production, costs and expenses.
There is a specific risk that the diamond drill campaign referred to in this
press release cannot be completed as described herein or at all. The reader is
cautioned not to place undue reliance on this forward-looking information.

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