SOURCE: Ironwood Gold Corp.

Ironwood Gold Corp.

November 30, 2009 07:00 ET

Ironwood Gold Corp. Acquires Additional Mineral Rights at Cobalt Canyon Gold Project

SCOTTSDALE, AZ--(Marketwire - November 30, 2009) - Ironwood Gold Corp. (OTCBB: IROG) (the "Company" or "Ironwood") is pleased to announce it has completed an agreement for the acquisition of 32 additional Federal lode mining claims contiguous to the existing property interests at the Cobalt Canyon Gold project in Nevada.

The Cobalt Canyon project originally consisted of 22 unpatented claims (approximately 363 acres) and three patented claims covering 59 acres, for a total of approximately 422 acres of land. With the additional 32 claims covering 274 acres, the project now encompasses a grand total of 696 acres in the Chief or Caliente mining district of southeastern Nevada, about 115 miles northeast of Las Vegas and 5 miles north of the town of Caliente.

Additional project data includes an up-to-date, independently authored N.I. 43-101 compliant report which offers the opinion that Cobalt Canyon appears to have the potential for 1.5 million ounces of gold -- and possibly considerably more. Given the high grades in some samples -- of up to 1.16 opt Au, the report strongly recommends plans which could lead to the development of a viable underground mine and the possibility that the property may also hold tonnages and grades that could support an open-pit mine.

Company President Robert Reukl states, "These additional claims cover the ground from which surface rock samples indicate a high probability of mineralization at depth. If the mineralization is present, this larger claim block increases the possibility of open pit mining in addition to underground ore extraction, and provides room for recovery facilities and waste disposal management."

Based on the encouraging data and independent recommendations, Company Management has determined to implement plans for an exploration program consisting of (but not limited to) mapping and prospecting, geochemical sampling, analysis of ore specimens, selective surveys and identification of drill targets, as well as a proposed initial program of 5,000 feet of core drilling in order to ultimately develop the endeavor into a production scenario.

Additional details regarding the Company and acquisition agreements are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

ABOUT IRONWOOD GOLD CORP. (OTCBB: IROG)

Ironwood Gold Corp. is a mineral exploration and development company building a portfolio of prospective properties containing known deposits of strategic precious metals in politically stable, mining-friendly North American districts with recognized production histories. For more information visit: www.ironwoodgold.com.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD

Ironwood Gold Corp.
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Behzad Shayanfar, CEO

Contact Information

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