Coral Gold Resources Ltd.
OTC Bulletin Board : CLHRF

Coral Gold Resources Ltd.

March 11, 2008 08:00 ET

Coral Gold Secures Drilling Contract for Nevada; Work Expected to Begin in April

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2008) - Coral Gold Resources Ltd. ("Coral" or the "Company") (TSX VENTURE:CLH)(OTCBB:CLHRF)(BERLIN:GV8)(FRANKFURT:GV8) announces that it has entered into a contract for 37,600-feet of reverse circulation drilling on the Company's 100% owned Robertson property at Crescent Valley, Nevada. The agreement, signed with Lang Exploratory Drilling of Salt Lake City, Utah, is expected to begin in April following permit approval from the U.S. Bureau of Land Management.

"This contract represents Phase I of an ambitious, two-phase program for 2008," says Coral president, David Wolfin. "In the first phase, we expect to drill 52 reverse circulation holes. Phase II, for which we already have a contract with Boart Longyear, will include 11,000 feet of diamond drilling."

Both Phase I and Phase II are aimed at expanding and upgrading Robertson's 2.3 million-ounce inferred resource. In February 2008, Beacon Hill Consultants reported the Robertson resource, to date situated in a small portion of the property, had increased by more than 110% from the previous calculation. The updated resource was calculated from work completed in 2006 and 2007. With the 2008 drilling, Coral hopes to upgrade a significant portion of the inferred resources into the measured and indicated categories.

The reverse circulation drilling of Phase I will range in depth from 500 to 1,200 feet. This work will focus on key, shallow-lying zones locally exposed on surface and also potentially in an open pit mining configuration. Some of the new resources remain open to expansion on strike and at depth.

The planned 21 diamond drill holes of Phase II are expected to range from 300 to 1,000 feet in depth. Phase II drilling will:

1) provide geological data on the controls of mineralization;

2) provide geotechnical data for RQD (Rock Quality Designation) and specific gravity;

3) help confirm grade and continuity;

4) provide material for metallurgical testing.

"Both drilling phases are expected to continue well into the fall," says David Wolfin. "Management is confident that this season's drilling will be successful and expand our inferred resource and increase our measured reserve."

Mr. Garth D. Kirkham, P.Geo., and Mr. Peter Stokes, P.Eng., of Beacon Hill Consultants (1988) Ltd., and Mr. Robert McCusker, Consultant Geologist and Project Manager, are Qualified Persons in accordance with NI 43-101. Messrs Kirkham, Stokes and McCusker are independent of Coral as defined by NI 43-101.


David Wolfin, President

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