VPR

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


Viper Gold Ltd. ("Viper Gold" or the "Company") (TSX VENTURE:VPR) is pleased to
announce a non-brokered private placement of up to $502,000 consisting of up to
4.3 million common shares to be issued on a "flow-through" basis (as defined in
the Income Tax Act (Canada)) at a price of $0.07 per share and up to 3.35
million units at a price of $0.06 per unit, each unit consisting of one common
share and one warrant to acquire an additional share at a price of $0.10 per
share for a period of two years from the date of closing. 


In connection with the private placement, finder's fees may be paid of up to 8%
in cash and up to 8% in warrants, each warrant entitling the holder thereof to
purchase one common share at a price of $0.10 per share for a period of two
years. 


The Company intends to use the proceeds from the private placement to fund its
exploration expenditure requirements on the Grindstone Creek and Currie-Bowman
properties in Canada, the Corongo Property in Peru and for general working
capital purposes. All securities issued in connection with the Private Placement
will be subject to applicable resale restrictions. Closing of the Private
Placement is expected to occur on or about November 15, 2012 and is subject to
TSX Venture Exchange approval.


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 and the
Abitibi Greenstone Belt of Ontario, Canada. 


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. 


Further Information 

For further information relating to the Company or this release please visit the
Viper Gold website at www.vipergoldltd.com.


Statements in this press release may contain forward-looking information,
including expectations as to the completion of the financing and the use of
proceeds of the financing. The reader is cautioned that assumptions used in the
preparations of such information, including the receipt of required regulatory
approvals and the ability to find qualified subscribers for the financing 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 market price of
the Company's shares prior to the closing of the financing and the risks
associated with the mining industry, commodity prices, exchange rate changes,
income taxes political risks in Peru 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. The reader is
cautioned not to place undue reliance on this forward-looking information.

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