Dawson Gold Corp.
TSX VENTURE : DYU

Dawson Gold Corp.

March 04, 2011 08:41 ET

Dawson Gold Expands Toro Gold Project With Additional Claim Staking

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2011) - Dawson Gold Corp. (TSX VENTURE:DYU) ("Dawson Gold") announces the completion of its winter staking program in the Yukon Territory. A total of 488 quartz mining claims (~9,900 hectares) of prospective gold exploration ground were staked, expanding the Toro Project and targeting two new properties (the Nansen Ace and King-Kong Projects) during the February 2011 staking program.

The Toro Gold Project in the White Gold District was expanded by 32 claims based on positive gold-in-soils geochemical results from the Company's 2010 soil sampling program at the Ridge Zone. The new claims are at the western edge of the property and lie along strike with the two strongly anomalous goldzones outlined in Zones 6 and 4 (See Company news release dated January 26, 2011).

The Nansen Ace Claims have been staked in the Mt. Nansen District, for a total of 228 claims constituting more than 4,500 hectares. The Nansen Ace Property lies approximately 60 km south of the Toro Project and was staked to cover prospective gold exploration ground along structural strike and 7.5 km to the northeast of the former Mt. Nansen Mine which hosted historical resources* of 254,251 tonnes grading over 12.5 g/t Au and 270 g/t Ag.

*NB. The Mt. Nansen property does not lie within the Nansen Ace property boundaries, but is presented to illustrate reported the mineralization within the Mt. Nansen District. This style, grade and type of mineralization however is not necessarily indicative of mineralization on the Company's property. All above information obtained from the Yukon Mineral Property Update (2008) and the Company has not independently verified the information presented above.

The King-Kong Project has two distinct claim blocks totalling 228 claims in the Mt Skukum/Wheaton River area. The King claims (King Project) comprise 104 claims totalling 2,268 hectares and include prospective mineralized vein systems which have been previously assayed at 62.1 g/t Au (Source: Yukon MINFILE#105D 173). The King Project lies along the western flank of the Bennett Lake Volcanic complex, a huge Eocene caldera structure formed at the margin of the Coast Plutonic Complex. The Kong claims (Kong Project) consist of 124 full and partial Quartz Mining claims covering 2,470 hectares immediately south of the Tagish Lake Gold property of New Pacific Metals Corp. which hosts a measured and indicated resource* of greater than 1.5 million tonnes averaging 7.8 g/t Au and 130 g/t Ag. A float sample which assayed over 5% Cu and a 1km by 800 m gold-in-soils geochemical anomaly were identified on the property in the late 1980s by workers for Skukum Gold Inc. Additionally, high-grade gold in quartz has been reported from the area now covered by the Kong Project (Source: Yukon MINFILE#105D 190). The soil anomaly has not received any follow-up attention and remains open in all directions. Neither the King, nor the Kong Property have previously been drilled.

*NB. The Tagish Lake Gold property does not lie within the King Property boundaries, but is presented to illustrate reported the mineralization within the Skukum District. This style, grade and type of mineralization may not necessarily be indicative of mineralization on the Property. All above information obtained from the New Pacific Metals Corp. publically available information and the Company has not independently verified the information presented above.

Dawson intends to conduct detailed exploration programs on these newly acquired targets, in addition to further exploration at the Toro Project, beginning in the spring of 2011.

Paul. D. Gray, Dawson Gold CEO, commented: "The 2010 Toro Project soil geochemical programs outlined areas of high-priority gold anomalies which will be the primary focus of the 2011 exploration season. To capitalize on the identification of these targets, the Toro Extension staking was conducted ensuring more complete coverage of these anomalies on strike extension. Additionally, the Company has expanded its presence in the Territory by acquiring a swath of highly prospective gold exploration ground in the Mt. Nansen area. These newly acquired targets will be the subject of 2011 mineral exploration work supported by the Toro Project exploration team and camp and highlight the Company's commitment to expanding its presence as a leader in exploration in the quickly developing Yukon gold story."

The 2010 Toro Project work program was conducted under the supervision of Dawson Gold President Michael Collins, P.Geo, a qualified person under NI 43-101, who has read and approved the content of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

Paul D.Gray, P.Geo., CEO

DAWSON GOLD CORP.

FORWARD LOOKING INFORMATION DISCLAIMER

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of anomalies, deposits, continuity, historic results and the execution of drill programs. Each of these activities involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise. The potential for the Company to replicate historical resource estimates or grades, or for new data to expand tonnage or grade, is conceptual and is based on historical reports which have not been verified by a qualified person. There is a risk that current exploration and test work will not result in the delineation of NI 43-101 compliant resource estimates or verify historically reported grades.

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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