Dr. Bill Pearson reports

COASTAL GOLD INTERSECTS 4.95 GRAMS GOLD PER TONNE OVER 14.9 METRES AT HOPE BROOK GOLD PROJECT, NEWFOUNDLAND

Coastal Gold Corp. has released further results from its 2013 resource definition diamond drill program at its 100-per-cent-owned Hope Brook gold project in southwestern Newfoundland. Assays have been received for an additional four holes that tested the newly developed Footwall target (see press releases Aug. 6, 2013, and Sept. 16, 2013), where previous mining left significant higher-grade mineralization in the footwall of the stopes. Drill program highlights:

• Hole HB13-116 intersected 4.95 grams gold per tonne over a core length of 14.9 metres in the footwall of the 5015-180 stope.
• Hole HB13-114, approximately 100 metres southwest of HB13-116, intersected high-grade mineralization on the footwall of the 4960-170 stope grading 5.12 grams per tonne gold over a core length of seven metres.
• Hole HB13-115, approximately 50 metres southwest of HB13-114, intersected two grams per tonne gold over a core length of 15.0 metres in the footwall of the 4960-165 stope.

Dr. Bill Pearson, PGeo, president and chief executive officer of Coastal Gold, commented: "We are very pleased with the results of this drilling which confirms that significant mineralization remains in the footwall of the old mine workings. These results, along with new data from drilling in progress, are being used to update and refine our geological model for resource estimation."

David Copeland, PGeo, chief geologist of Coastal Gold, commented, "We expect that the positive drill results from the Footwall target, combined with smaller than modelled stopes on the 5015-level and refinements made to the underground void model, will help increase the gold resource at Hope Brook." Mr. Copeland further commented: "Ongoing infill drilling in our second major target area, the SW pit extension, has intersected the targeted silicified horizon in each of the 15 drill holes completed to date. This demonstrates that there is good continuity to the mineralized structure and associated alteration zone within this area. Assays on the SW pit extension infill drill holes are pending."

To date 3,317 metres of drilling in 21 holes have been completed with assay results pending on 15 holes. The first six holes tested the Footwall target and the next 15 are in the SW pit extension target.

                   LIST OF SIGNIFICANT ASSAY RESULTS 2013 
                  DRILL PROGRAM -- HOPE BROOK GOLD PROJECT

                                    Core length True width                  
Hole No.            From (m)   To (m)        (m)        (m) Au (ppm)   Cu (%)

Footwall target                                                             
HB13-112(i)           144.0    154.0       10.0        4.9     2.99     0.01
incl.                 145.0    149.0        4.0        2.0     4.69     0.01
HB13-113(i)           150.1    163.6       13.5        6.3     4.09     0.04
incl.                 155.1    163.6        8.5        4.0     5.42     0.04
HB13-114              124.0    136.0       12.0        4.5     0.61     0.01
and                   153.0    158.8        7.0        2.6     5.12     0.01
HB13-115              153.0    174.5       21.5        7.7     1.66     0.01
incl.                 156.0    171.0       15.0        5.4     2.00     0.01
and                   189.3    208.8       19.5        7.0     1.10     0.02
incl.                 189.3    197.5        8.2        2.9     1.80     0.01
and                   208.0    209.7        1.7        0.6     3.59     0.14
HB13-116              151.5    166.4       14.9        6.8     4.95     0.01
incl.                 163.6    166.4        2.8        1.3    21.70     0.01
HB13-117              129.0    138.0        9.0        3.7     0.66    trace
                      131.0    133.0        2.0        0.8     1.51    trace

(i) previously reported                                                     

Sampling, assaying and quality control

The core (NQ (47.6 millimetres) and BQ (36.5 millimetres)) is logged, photographed and then sawn in half with one-half sent to the laboratory for analysis and the other half retained and stored on site. All core samples were prepared and assayed at ALS Minerals, with sample preparation done in Sudbury and analytical work done in North Vancouver. All locations of ALS Minerals are ISO 9001:2000 certified. The entire sample received is weighed and crushed to 70 per cent passing two millimetres (10 mesh). A sample split of up to 1,000 grams is then pulverized to 85 per cent passing 75 microns (200 mesh) to produce a homogenized sample. A 50-gram aliquot is used for fire assaying with an atomic absorption finish to determine gold concentration. Copper is initially analyzed using a four-acid digestion ICP (inductively coupled plasma-atomic emission spectrometry) method. Any results for copper greater than 10,000 parts per million are assayed further by a four-acid digestion and ore grade ICP method. Internal quality control includes the use of blanks, duplicates and standards in every batch of samples. The company also conducts internal check assaying using certified external reference standards and blanks. Regular external check assays are performed at a second certified Canadian commercial laboratory. Coastal Gold also inserts external reference standards as well as blank granite drill core in each sample batch as a further external check.

Qualified persons

David Copeland, PGeo, chief geologist, who is a qualified person as defined by National Instrument 43-101, supervised the diamond drilling program at Hope Brook. Mr. Copeland and Dr. Bill Pearson, PGeo, president and chief executive officer of Coastal Gold, both qualified persons as defined by National Instrument 43-101, have reviewed and approved the scientific and technical content of this news release.

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