Viper Gold Ltd.
TSX VENTURE : VPR

Viper Gold Ltd.

March 30, 2011 12:03 ET

Viper Gold Announces Appointment of Director & Grant of Stock Options

TORONTO, ONTARIO--(Marketwire - March 30, 2011) - Viper Gold Ltd. ("Viper Gold" or the "Company") (TSX VENTURE:VPR) is pleased to announce that the Company has appointed Ram Ramachandran to the Board of Directors of the Company. Mr. Ramachandran has over 25 years of financial reporting experience in a multitude of capacities. For over 10 years, he has consulted extensively on financial reporting and regulatory matters for public companies, accounting and law firms. His contributions to the capital markets include authoring and launching the "Canadian Securities Reporter", a proprietary public company subscription service currently available through the CICA's Knotia website. Mr. Ramachandran has previously served as Associate Chief Accountant and Deputy Director, Corporate Finance at the Ontario Securities Commission and served as a senior member in the national office of an international accounting firm. He was also a member of the OSC's Continuous Disclosure Advisory Committee (2004-2007) and has completed the IFRS Certification program offered by the Institute of Chartered Accountants in England & Wales. Mr. Ramachandran originally qualified as a Chartered Accountant in England & Wales and subsequently became a C.A. in Ontario in 1984. Mr. Ramachandran currently serves as a member of the audit committee of White Tiger Gold (TSX) and as Chief Financial Officer of CanAlaska Uranium Inc. (TSXV and also an SEC registrant) and Purepoint Uranium Group Ltd. (TSXV).

"We are pleased to have Mr. Ramachandran join our outstanding Board of Directors," said Paul Davis, President and Chief Executive Officer of Viper Gold. "Ram brings important corporate finance and regulatory experience to our Board and we look forward to his contributions to Viper Gold during these very exciting times for the Company and the mineral exploration industry."

In conjunction with his appointment to the Board of Directors, Ram Ramachandran has been granted 100,000 stock options to acquire common shares in the capital of the Company at a price of $0.26 per share for a period of five years, all of which vest immediately.

Mr. Ramachandran's appointment and the grant of options are subject to regulatory acceptance.

Company Profile

Viper Gold Ltd. is an emerging Canadian based junior exploration company focused on the precious metals potential of the "Gold Corridor" in Northern Peru. 

Corongo Property

The Corongo Property is located in the Department of Ancash in the Republic of Peru, approximately 400 kilometres north of Lima. The property covers an area of 3,100 hectares and is comprised of 11 contiguous claims. The Corongo Property is located in a portion of the Western Cordillera of Peru that hosts numerous precious and base metal deposits, including Barrick Gold Corporation's Pierina and Lagunas Norte gold mines and Compania Minera Antamina S.A.'s Antamina copper-zinc mine. Viper Gold entered into an option agreement (the "Option Agreement") with Duran Ventures Inc., whereby Viper Gold can earn a fifty percent (50%) beneficial interest in the Corongo Property.

A 2,000 metres diamond drill program has begun on the Corongo Property and has been designed to test high priority targets on the Santa Rosa East and Descubridora areas for sediment-hosted, structurally controlled gold and silver mineralization.

QP Statement

The information in this release was prepared under the direction of Paul Davis, P.Geo. President and CEO of Viper Gold, and, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The exploration program will be carried out under the supervision of Duran Venture's President, Cary Pothorin, P.Geo., also a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Davis is responsible for all technical information contained in this news release.

Statements in this press release may contain forward-looking information, including expectations of the results of future exploration and the potential of the Corongo Property including with respect to the bulk tonnage potential on the property. The reader is cautioned that assumptions used in the preparations of such information, including and the ability to find suitable targets, the ability to negotiate and enforce land access agreements with local communities, the ability to obtain necessary government approvals for proposed exploration plans, the ability to control operating costs, commodity price risk management activity, the ability to make suitable acquisitions and dispositions, and the ability to access capital and credit facilities may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices, exchange rate changes, income taxes and regulatory changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. There is a specific risk that the diamond drill campaign referred to in this press release cannot be completed as described herein or at all. The reader is cautioned not to place undue reliance on this forward-looking information.

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.

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