New Carolin Gold Corp.
TSX VENTURE : LAD

New Carolin Gold Corp.

April 02, 2012 12:09 ET

New Carolin Gold Concludes Annual and Special Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 2, 2012) -

NOT FOR DISTRIBUTION IN THE UNITED STATES.

New Carolin Gold Corp. (TSX VENTURE:LAD) is pleased to announce that the Company concluded its Annual and Special Meeting of Shareholders held on March 30, 2012. At the meeting, all resolutions were approved by shareholders of the Company. A total of 13,246,550 common shares were voted representing 29.86% of the 44,364,758 outstanding eligible voting shares of the Company as at the record date of February 14, 2012.

The shareholders re-elected Bruce W. Downing, J. Graham Eacott, Jerry DeMarco, and Richard T. Gillard to the Board of Directors.

New Carolin Gold Corp. also announced that, subject to the approval of the TSX Venture Exchange, the Company approved the granting of a total of 400,000 stock options to the four directors of New Carolin Gold on March 30, 2012. The stock options are exercisable into common shares of New Carolin Gold at an exercise price of C$0.16 per share for a period of five years. New Carolin Gold's common shares closed at C$0.155 on the TSX Venture Exchange on March 29, 2012. The Company has 49,941,839 common shares issued and outstanding. Under the terms of the Company's "rolling" Incentive Stock Option Plan a maximum of 4,994,184 shares are available to be issued pursuant to the exercise of options at this time. Including this grant of 400,000 options, a total of 3,930,000 shares have been reserved for issuance pursuant to option grants. A further 1,064,184 shares are available for issuance pursuant to future option grants at this time.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior mineral exploration and mine development company engaged in the acquisition, exploration, evaluation and development of approximately 130 square kilometres of contiguous mineral claims, collectively known as the Ladner Gold Project, located along the prospective and under-explored Coquihalla Gold Belt located in southwestern British Columbia, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous other gold prospects. The results of a recently completed airborne geophysical survey indicate a major magnetic linear structure that can be traced for over 18 km within the Company's claims. The aforementioned gold prospects all occur along this magnetic trend. The linear structure is attributable to the presence of serpentinite, which is associated with gold mineralization.

For further Company and technical information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Bruce W. Downing, M.Sc., P.Geo., Hon.FEC, President & Chief Executive Officer

We seek Safe Harbor.

Caution concerning forward-looking information

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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 the accuracy of this press release.

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