EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1
CORAL GOLD RESOURCES LTD.
400 - 455 Granville Street
Vancouver, B.C. V6C 1T1
Tel: (604) 682-3701 Fax: (604) 682-3600
www.coralgold.com
ir@coralgold.com

July 12, 2006
Trading Symbols: TSX Venture - CGR
US;OTC.BB - CGREF
Berlin and Frankfurt - GV8

Coral Gold Announces Encouraging Drill Results and a new President

Coral Gold Resources Ltd. (the “Company”) has provided the results from holes CR06-10, CR06-13, CR06-14, and CR06-15, which are part of the current drill program at the company’s Robertson property on the Battle Mountain-Cortez-Eureka gold trend Nevada, United States.

Bob McCusker, a qualified person under National Instrument 43-101, reports as follows:

Holes CR06-10 and CR06-13 were drilled along the northwest side of the 39A zone in order to delineate the margin of the zone.

Holes CR06-14 and 15 were drilled in the southern part of the 39A zone along the east margin of the zone (as defined to date). They indicate hole CR06-14 (65ft/0.067 oz Au/t) and hole CR06-15 (35ft/0.082 oz Au/t) that mineralization remains open for further expansion to the east.

The principal intersections of gold mineralization were calculated using a cut-off grade of 0.015 ounce per ton Au (except where indicated) to calculate the average grade and thickness of the gold-bearing zones as follows:

Hole No.
From (ft)
To (ft)
Thickness (ft)
Gold Grade oz/ton
CR06-10
405
450
45
0.043
 
520
535
15
0.027
 
605
620
15
0.053
         
CR06-13
90
125
35*
0.025
 
300
365
65
0.022
 
395
420
25
0.028
 
485
520
35
0.032
 
595
640
45
0.034
         
CR06-14
105
115
10
0.075
 
565
630
65
0.067
         
CR06-15
630
650
20
0.041
 
665
700 (TD)
35
0.082

*Oxide mineralization; grade/thickness calculated using 0.01 oz Au/t cutoff grade.

 
 
 
Because of the flat-lying nature of mineralization, the intersections cited above are thought to represent true thickness.

The samples were fire assayed at ALS Chemex Lab, Sparks, Nevada.

This report was prepared by Chris J. Sampson, P. Eng., Director and V.P. Explorations, Coral Gold Resources Ltd., a qualified person for National Instrument 43-101.

The Company is also pleased to announce that following the Company’s Annual General & Special Meeting held on July 11, 2006, Mr. Louis Wolfin, founder of Coral Gold has been appointed as President of the Company. Mr. Wolfin brings many years of experience to the office of President, a position he has held in the past with great success. Mr. Matt Wayrynen, former President, has been appointed as Vice President of the Company.

Coral has been exploring a portfolio of strategically located claim blocks along the Battle Mountain-Eureka/Cortez gold trend in north-central Nevada. These properties are situated in the active Crescent Valley region, adjoining the large Cortez (Pipeline) gold mine.

On behalf of the Board of Directors
of Coral Gold Resources Ltd.

“Lloyd Andrews”
Lloyd Andrews,
Chairman

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.