Coral Gold Resources Ltd.
OTC Bulletin Board : CGREF

Coral Gold Resources Ltd.

April 20, 2007 08:00 ET

Coral Gold Resources Ltd. Announces $4.2 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 20, 2007) - Coral Gold Resources Ltd. (the "Company") (TSX VENTURE:CGR)(OTCBB:CGREF)(BERLIN:GV8)(FRANKFURT:GV8) has arranged a non-brokered private placement of up to 1,400,000 units at a price of $3.00 per unit, each unit consisting of one common share and one transferable share purchase warrant. Each warrant will entitle the investor to purchase one additional share at an exercise price of $3.50 for one year from the date of closing.

The net proceeds of the offering will be used for additional exploration and development work on the Company's mining properties and for general working capital requirements.

The above transactions will be subject to regulatory approval.

On Behalf of the Board of Directors:

Louis Wolfin, President

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this release.

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