New Carolin Gold Corp.
TSX VENTURE : LAD

New Carolin Gold Corp.

August 23, 2012 14:24 ET

New Carolin Gold to Initiate Surface Diamond Drill Program at Its Ladner Gold Property

WHITE ROCK, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2012) -

NOT FOR DISTRIBUTION IN THE UNITED STATES.

New Carolin Gold Corp. (TSX VENTURE:LAD) is in the process of initiating a surface diamond drill program on the Carolin Mine at its Ladner Gold Property near Hope in southwestern British Columbia. The objectives of this drill program are to: 1) validate previous gold mineralization in order to bring the inferred resource into the indicated and measured categories; 2) increase the gold resource; and 3) substantiate a potential "starter" open pit resource. The area where drilling will be carried out requires upgrading to accommodate the drill platforms, which is expected to take two to three weeks to complete, with drilling to follow.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior mineral exploration and development company engaged in the acquisition, exploration, evaluation and development of 144 sq kms of contiguous mineral claims, collectively known as the Ladner Gold Project, located along the prospective and under-explored Coquihalla Gold Belt located in southeastern British Columbia, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.

For further information please visit the 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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