Compass Gold Corporation
TSX VENTURE : CVB

Compass Gold Corporation

November 02, 2011 10:57 ET

Compass Gold Cancels Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2011) - Compass Gold Corporation (TSXVENTURE:CVB) (the "Company") announces that it has agreed with agent Delano Capital Corp. to cancel its proposed brokered private placement of units for proceeds of up to $3,600,000, previously announced on September 26, 2011.

The Company is pursuing alternate financing arrangements and will update the market in due course.

About Compass Gold Corporation

Compass Gold Corporation is a Tier 2 mining issuer listed on the TSX Venture Exchange and focused on gold exploration in Mali, Africa's 3rd largest producer of gold. Compass has acquired a 51% interest in Africa Mining, which owns four gold exploration permits (Yanfolila, Dandoko, Kolondieba and Solabougouda) as well as an authorization to explore, Mousala, covering a total of 888 sq km's in key gold producing regions in south west Mali, West Africa. Further information is available at www.compassgoldcorp.com.

COMPASS GOLD CORPORATION

James Henderson, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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