Compass Gold Corporation (TSX VENTURE:CVB) (“Compass” or the “Company”) provides the following update regarding its exploration activities in Mali, West Africa relating to four exploration gold research licenses held by Africa Mining SARL (“Africa Mining”) in which Compass is currently earning a 51% interest.

Compass recently completed a C$2,000,000 non-brokered private placement. These funds will be used to complete the Phase II Exploration Program including initiating a major high-resolution airborne magnetic and radiometric survey over its licenses and drill targets.