Overview

Established in 1982 and managed by a team with over 250 years’ combined industry experience, Coral Gold Resources is exploring more than 10,000 acres of strategically-located mineral claims on Nevada’s Battle Mountain-Cortez gold trend. The company’s key investment features include:

• An inferred gold resource exceeding 2.3 million ounces (based on US$600/ounce gold).
• The Robertson Project, Coral Gold’s flagship asset, is located next to Barrick Gold’s Cortez-Pipeline gold mine.
• Large portions of the Robertson claims remain unexplored.
• In partnership with Barrick Gold Mines on the Excluded claims of Robertson project.
• Deep drilling has confirmed presence of the lower plate of the Roberts Mountains thrust, a crucial geological feature for locating major Carlin-style gold deposits.
• Extensive experience in mineral exploration, mine development and Nevada minerals and geology.
• Fully-funded for current work programs.

The company focuses on Nevada for two key reasons:

• Nevada—and particularly the area of the Battle Mountain-Cortez and Carlin gold trends—is one of the world’s top gold-producing regions;
• Pro-mining laws and outstanding infrastructure greatly enhance any exploration or production.

Coral Gold acquired its first Nevada claims in 1985 and through strategic acquisitions quickly expanded its holdings to over 10,000 acres. More than 535,000 feet of drilling on the Robertson Property (conducted independently and through joint ventures with AMAX Gold, Placer Dome and now Barrick) has provided extensive data on a number of significant gold showings at surface and at deeper levels.

In February of 2008, Coral Gold completed an updated resource calculation for the Robertson Property’s Core Claims. The NI 43-101-compliant figures, completed by Beacon Hill Consultants, showed that inferred resources had increased by 110%. The numbers were based on a gold price of US$600 and gold recoveries of 70%. The resource occupies a small portion of the overall land package, and exploration is ongoing to determine the limits of the gold mineralization.
For details on claim and gold zone locations, please see corresponding maps and diagrams at www.coralgold.com

Over the past year, deeper drilling on the Robertson claims has encountered important lower-plate rocks with significant gold mineralization. Rocks in this deep strata are crucial for exploration in this region, as they can point to potentially very large and rich gold deposits similar to those of the adjoining Pipeline-Cortez gold mine.

For the company’s 2008 exploration, Coral Gold commissioned Beacon Hill to outline a program for the next levels of development on the Core claims. Beacon Hill recommended a three-pronged development approach that included significant additional drilling, metallurgical studies and a Preliminary Assessment Study to determine which zones have the best potential for mining viability. Phase I drilling began in May 2008 and continued throughout the summer, along with open-pit modeling of the Core Claims resource.

Coral Gold also holds a joint venture interest in the nearby Norma Sass claims, located immediately south of the Gold Acres open pit mine and west of the Cortez/Pipeline Mine. Due to its geological and geographical setting, Norma Sass represents an outstanding exploration target. Previous drilling encountered significant gold values hosted by favorable, lower-plate carbonate strata. Norma Sass is owned 2/3 by Coral Gold and 1/3 by Levon Resources Ltd. Over the past three years, Agnico-Eagle Mines Limited explored the property under an exploration agreement with Coral Gold and Levon. Agnico-Eagle’s drilling encountered Lower Plate carbonate rocks at relatively shallow depths. A number of holes intersected gold. While the results were considered positive, Agnico-Eagle and Coral Gold did not reach an agreement to continue exploration in 2007. Coral Gold and Levon are now evaluating options for further exploration at Norma Sass.

Chief Properties

Coral’s projects are situated along the Cortez gold trend, which lies southwest of the renowned Carlin trend. The Cortez and Carlin trends represent the United States’ key gold region, accounting for three-quarters of the country’s gold output.

Location & Ownership

Coral’s primary properties—Robertson, Excluded, Norma Sass and Ruf—lie in the south Crescent Valley region. Coral owns 100% interest in the Robertson claims, while the Excluded Claims operate under a 61/39 joint venture with Cortez Gold Mines (a joint venture between Barrick Gold Corporation and Kennecott Explorations). Norma Sass and Ruf are joint ventures with Levon Resources Ltd. Coral Gold also holds 100% interest in the Lander Ranch and Blue Nugget claims, located immediately north of Robertson.

One of the World’s Most Important Gold Districts

Coral Gold chose to explore in Nevada—and particularly along the Cortez gold trend—with good reason. Although Nevada produced 6.3 million ounces of gold in 2006, the state’s gold output is decreasing. Because Nevada’s gold mines are maturing, major producers such as Barrick Gold and Newmont will need to replace reserves either through exploration or by acquiring defined resource from junior companies, such as Coral Gold.

Robertson

Robertson is an advanced-staged exploration project located along the Cortez Gold trend in north-central Nevada and immediately adjacent to the Pipeline gold mine. Over the past 20 years, Coral Gold and its various venture partners have spent more than $25 million exploring the claims. This activity has led to discovery of five mineralized zones: Porphyry, 39A, Gold Pan, Altenburg Hill and Distal.

Project highlights

• Large, strategically located claim block.
• +2 million ounces of drill indicated inferred mineral resources announced in 2008
• Discovered Carlin-type gold mineralization in lower plate rocks north of Pipeline in the fall of 2007.

Excluded

Northward Extension of the Ore-hosting Pipeline Fault
The Excluded Claims venture with Cortez Gold Mines (Barrick Gold/Kennecott Explorations) is strategically located approximately 4,000 ft north of the Pipeline open pit mine. The claims encompass a number of important structural elements including the northward extension of the ore-hosting Pipeline fault.

Earn-in Agreement with Cortez Gold Mines
The project is subject to an Earn-In Agreement and Mining Venture Agreement with Cortez in which Coral owns a 39 percent carried interest in 219 unpatented lode claims. Cortez, which operates the nearby Pipeline mine, is manager of the joint venture.

Major Feeder Structures for Carlin-type Mineralization
Portions of the Excluded Claims are located within the northern half of the Gold Acres structural window, a wedge-shaped horst block, bounded on the east by the regionally significant Pipeline fault and the northeast-striking Gold Acres fault along the west. Both faults are postulated to have acted as major feeder structures for Carlin-type mineralization at the Pipeline and Gold Acres mines, respectively. These important ore-controlling structural features are known to extend on to the Excluded Claims. These geological relationships are summarized in Figure 2.

Potential for the Discovery of Deep, Carlin-style Mineralization

Beginning in 1997 and continuing through 1998, Cortez conducted a series of exploratory drilling programs on the Excluded Claims with only limited success. In 2002, Coral conducted a limited follow up drilling program on the claims with generally mixed results. To date, no significant mineral resources have been discovered on the claims. However, the wide-spaced deep drilling has established the presence of scattered significant gold values, anomalous levels of Carlin-type trace elements, key structural components and the occurrence of a preferred host strata. Together with the wide-spaced nature of the drilling, these features indicate that potential remains for the discovery of deep Carlin-style mineralization.

Norma Sass

Norma Sass, an early exploration-stage project located immediately south of the Gold Acres open pit mine and west of the Pipeline open pit mine, represents a significant exploration target. Previous drilling at Norma Sass encountered gold hosted by favorable, lower-plate carbonate strata.

Agnico-Eagle Mines Limited explored the property in 2005 and 2006 under a potential five-year exploration agreement. Their work encountered gold mineralization and confirmed that Norma Sass is underlain by Lower Plate carbonate rocks at relatively shallow depths. Noting their desire for a larger land package, Agnico-Eagle chose not renew the Norma Sass agreement for 2007. Coral Gold and Levon Resources are now evaluating options for further exploration at Norma Sass.

Geology – on the Margin of the Gold Acres Structural Window
The claims are situated on the southwest margin of the Gold Acres structural window in folded and faulted, early to middle Paleozoic siliciclastic strata of the upper plate of the Roberts Mountains thrust fault. These rocks overlie mildly deformed, coeval lower plate carbonate strata that hosts major Carlin-type gold deposits at the near-by Gold Acres and Pipeline/South Pipeline open pit mines. Lower plate carbonate rocks are not exposed on the Norma-Sass claims, but have been intersected in most drill holes. A series of important northeast striking normal faults extend southward from the Gold Acres pits on to the Norma-Sass claims. These faults are considered potentially important ore-controlling structures. At the Gold Acres mine, located 2,000 ft north of the claims, a mineralized shear zone in the Roberts Mountains Fm dips southward toward the Norma-Sass claims, suggesting potential for discovery of gold mineralization at a depth of less than 1,500 ft.

RUF

The RUF Claims, operated as a joint venture with Levon Resources, are situated northeast of the Cortez (Pipeline) mine and mill complex.

In 1995, Levon Resources completed a 6 hole RVC program (RF-95-1 through 6), totaling 3,000 ft, on the RUF claims approximately 1 to 1.5 miles south of Triplet Gulch (Figure 3). This drilling tested a strong NW-oriented EM/resistivity anomaly which was interpreted as a sulfide-filled fault zone. The drilling returned three narrow intervals containing low-grade gold values that reach up to 40-ft-thick averaging 0.018 oz Au/t, from 185 ft. A follow-up program of detailed ground geophysics and drilling should be considered for this shallow pediment-covered area.

Management

• Louis Wolfin, CEO & Director
• David Wolfin, President & Director
• Matt Wayrynen, Vice President
• Lisa Sharp, CFO
• Lloyd Andrews, Chairman and Director
• Chris Sampson, V.P. Exploration & Director
• Mimy Fernandez-Maldonado, Corporate Secretary

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