Corazon Gold Corp
TSX VENTURE : CGW

February 11, 2011 11:42 ET

Corazon Initiates Drilling on Santo Domingo Property in Central Nicaragua

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2011) - Corazon Gold Corp. ("Corazon" or the "Company") (TSX VENTURE:CGW) is pleased to announce it has begun a 3000 metre core drilling program at its Santo Domingo property in central Nicaragua, located 10 kilometres east of B2Gold's La Libertad mine. Corazon has contracted Rodio Swissboring Nicaragua to complete this first phase of drilling.

Corazon's mapping and trenching at Santo Domingo identified a mineral rich environment including 7 principal epithermal veins, each exceeding 1 kilometre in length and 15 subsidiary veins, each less than 1 kilometre in length that are gold mineralized at surface. This system of braided and branching veins totals more than 15 kilometres of cumulative strike, presenting numerous targets for drilling and further exploration.

Local miners have been mining high-grade ore in the region for over 200 years, and Santo Domingo has long been recognized as the heart of Nicaragua's mining activities. While Santo Domingo has a rich history in mining, the property has, until now, never been drill tested. This first phase of drilling will be reconnaissance in nature, designed to test, at depth, several of the numerous gold-bearing zones identified at surface throughout the 650-hectare property and will initially be directed toward the El Tigre, Amparo, Las Nubes, Los Tubos and Oropendula mining zones.

To see a surface map of Santo Domingo, please click here: http://corazongold.com/upload/satmap.jpg)

About Corazon

Corazon is a Canadian-based mineral exploration company with its focus on the exploration of the 650-hectare Santo Domingo property in central Nicaragua. The Santo Domingo property is located 125 kilometres northeast of the capital city of Managua, Nicaragua, and 10 kilometres east of B2Gold Corp.'s La Libertad Mine. Corazon's property is entirely surrounded by B2Gold's concession block and has long been recognized as the original gold discovery in Nicaragua. The Santo Domingo – La Libertad area is a mining friendly jurisdiction with B2Gold operating the largest mine (open pit) in the country at La Libertad. Until Corazon, no modern exploration work has been done on the Santo Domingo property.

ON BEHALF OF THE BOARD

Corazon Gold CORP.

Patrick Brauckmann, President

Disclaimer for Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include statements that: (i) an ongoing trenching and sampling program is expected to further delineate drill targets for an initial drilling program on the Santo Domingo property; (ii) that numerous high quality drill targets have been defined by the mapping and sampling program and it is the Company's intent to prioritize and test these targets in early 2011; and (iii) that the Company believes its relationship with the community of Santo Domingo will be mutually beneficial going forward. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things: (i) an inability by the Company to undertake or complete its initial drilling program; (ii) any adverse occurrences that prevent the Company from prioritizing and testing high quality drill targets in early 2011; (iii) a breakdown in the relationship between the Company and the community of Santo Domingo; (iv) a downturn in economic conditions in Nicaragua or internationally; (v) the inherent uncertainties and speculative nature associated with mineral exploration; (vi) any number of events or causes which may delay exploration and development of the Santo Domingo property, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems; (vii) an inability by the Company to finance operations and growth; and (viii) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

Neither the 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.

Contact Information

  • Corazon Gold Corp.
    Patrick Brauckmann
    President
    (604) 609-6160