Coral Gold Resources Ltd.
BERLIN : GV8
FRANKFURT : GV8
TSX VENTURE : CLH
OTC Bulletin Board : CLHRF

Coral Gold Resources Ltd.

September 16, 2010 19:43 ET

Coral Starts Diamond Drilling at Robertson, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2010) - Coral Gold Resources Ltd. (TSX VENTURE:CLH)(OTCBB:CLHRF)(BERLIN:GV8)(FRANKFURT:GV8) is pleased to announce that it commenced drilling 15 HQ diameter vertical diamond core drill holes at its Robertson property in Crescent Valley, Nevada on Thursday September 16th.

The holes will range from 400 to 600 feet in depth, the program will total 6,700 feet and will focus on the Gold Pan and Altenburg Hill Zones. This represents the first phase of the core drilling program announced in Coral's February 2 , 2010 News Release. Drilling by Coral's contractor Major Drilling should take six to eight weeks to complete.

At the Triplet Gulch zone, Coral previously announced initial results of 9 holes of this year's RC drilling program of 12 vertical holes (See News Release dated July 07, 2010).

Coral has now received gold assay results from holes CR 10-10 through CR 10-12 and results from the deepened holes CR 10-7 and CR 10-8. Intersections over cut off grade 0.010 oz/ton (0.34 g/tonne) are as follows:

Hole No. Total Depth(ft) From(ft) To(ft) Thickness(ft) Au, g/t Au, oz/t
CR10-7 1,000 80 85 5 1.64 0.0476
    95 100 5 14.32 0.418
    380 405 25 0.43 0.0125
    570 575 5 0.42 0.0123
    605 630 25 0.41 0.0119
    705 715 10 1.07 0.0313
    840 845 5 0.5 0.0146
    870 885 15 0.49 0.0142
    940 945 5 1.35 0.0389
    970 975 5 0.70 0.0205
    995 1,000 5 1.77 0.0516
             
CR10-8 1,000 60 65 5 1.59 0.0463
    75 80 5 0.48 0.014
    185 210 25 2.31 0.0673
    365 380 15 0.66 0.0195
    525 530 5 0.74 0.0217
    540 550 10 0.94 0.0274
    560 565 5 0.38 0.011
    610 670 60 0.62 0.0182
    735 745 10 0.59 0.0172
    765 770 5 0.57 0.0167
    780 810 30 0.56 0.0164
    855 870 15 0.66 0.0193
    925 930 5 0.52 0.0152
    990 995 5 0.60 0.0174
             
CR10-10 600 120 125 5 0.89 0.0259
             
CR10-11 600 385 395 10 0.40 0.0118
             
CR10-12 600 100 105 5 0.68 0.0197
    500 505 5 0.74 0.0216

All Samples were collected by Robert McCusker, a qualified person as defined by NI 43-101 and were fire assayed by ALS Chemex Labs using an AA finish in Elko, Nevada.

The Company notes that gold assays from drilling completed 2008 & 2010 are not included in the current 3.4 million ounce gold inferred resource. This data is being input into a new resource estimate. All drilling and metallurgical work completed by the end of 2010 will be used in a new NI43-101 compliant independent Preliminary Economic Assessment ("PEA"). A PEA is designed to illustrate the projects viability in the current cost environment.

The Company also wishes to announce that it has granted incentive options for the purchase of up to 690,000 common shares at a price of $0.45 per share exercisable on or before September 17, 2015 to Directors, Officers, Employees and Consultants.

Coral Gold, incorporated in 1981 continues to explore and develop a series of strategic claims along the Cortez Gold trend known as the Robertson Project. Through independent exploration and joint venture partnerships with Amax, and Placer Dome, Coral has established an inferred gold resource of 3.4 million ounces.

For more information on the Robertson Property and Coral Gold's other Nevada projects, visit the company's website at www.coralgold.com.

ON BEHALF OF THE BOARD

David Wolfin, President & Chief Executive Officer

This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

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

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