Coral Gold Resources Ltd.
(�Coral� or the �Company�) announces that it is continuing to reevaluate all past Robertson exploration data and apply
some new insights into gold controls in the Cortez Gold Trend, preparing for
the 2008 resource expansion drilling.
To help derive exploration priorities to expand the
current resource with the 2008 drilling campaign, a series of in-house, draft
open pit shapes have been modeled around the 2008
43-101 compliant inferred resource.
The inferred resource estimate
of 2.3 million ounces of gold grading 0.0250 oz/ton (0.870 g/tonne was
announced in February 2008 and a 43-101 compliant report is posted on the Coral
Gold website for review at http://www.coralgold.com/i/pdf/Robertson43-101Final.pdf.
The loosely constrained open pit shapes were
calculated at the posted resource cut off grades, for gold prices that range
from $600 to $2000 per ounce gold. For simplicity, off site toll milling
was considered and loosely estimated Nevada
operating costs were used to produce non
engineered, simple and idealized open pit shape alternatives. The point
of the exercise is not to mimic or consider production alternatives, but provide
semi quantitative exploration insight into where added resources might be most
effective in any future open pit alternatives.
We are pleased with the exploration insights we are
gaining even by applying this crude analysis of the resource data. We
believe our approach may be one way to improve our exploration success and
resource expansion we are shooting for in 2008.
The Company was incorporated in 1981 and is exploring
claims on Nevada�s
Battle Mountain-Cortez gold trend alongside the Cortez/Pipeline gold mine. Aggressive
exploration, aimed at expanding this resource, continues.
ON
BEHALF OF THE BOARD
�David
Wolfin�
David Wolfin, President
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the accuracy or adequacy of this release.
This press release contains �forward-looking statements. Forward-looking
statements express, as at the time of this press release, the Company�s plans,
forecasts, projections, expectations or beliefs as to future events and results.
Forward-looking statements involve a number of risks and uncertainties, and
there can be no assurance that such statements will prove to be accurate. Therefore,
actual results and future events could differ materially from those anticipated
in such statements.