Dr. Bill Pearson reprots

COASTAL GOLD INTERSECTS 2.61 GRAMS GOLD PER TONNE OVER 10.4 METRES IN SOUTHWEST PIT EXTENSION AT HOPE BROOK GOLD PROJECT, NEWFOUNDLAND

Coastal Gold Corp. has released further results from the 2013 resource definition diamond drill program at its 100-per-cent-owned Hope Brook gold project in southwestern Newfoundland. To date, 3,698 metres of drilling in 23 holes have been completed to test the Footwall target (six holes -- see press releases dated Sept. 16, 2013, and Sept. 25, 2013) and the southwest pit extension target (17 holes). Assays have been received for the first six drill holes that tested the southwest pit extension target.

Drill program highlights

• Hole HB13-123 intersected 1.64 grams gold per tonne (g/t Au) over a core length of 18.1 metres including 2.61 g/t Au over 10.4 m.
• Hole HB13-121 intersected 1.67 g/t Au over 25.7 m core length including 3.25 g/t Au over five m.
• Hole HB13-119 intersected 1.52 g/t Au over a core length of 15.1 m including 2.27 g/t Au over five m.

Dr. Bill Pearson, PGeo, president and chief executive officer of Coastal Gold, commented: "These initial positive results from drilling in the SW pit extension area confirm that there is a good opportunity to significantly extend the potentially open-pittable resource to the southwest. In addition, the grades returned from the new holes are much higher than indicated by the previous limited wider-spaced historical drilling. Further drilling will continue to test this important target in our resource definition drill program."

David Copeland, chief geologist of Coastal Gold, commented: "All 17 holes completed to date have intersected significant widths of silicification ranging from 17 m to 69 m core length for an average true width of approximately 33 m. Initial results confirm the presence of higher-grade mineralization (greater than two g/t Au) with local copper within a broader more extensive lower-grade mineralized zone, which is typical of the Hope Brook-style mineralization. An additional three holes are planned to further test this target over a strike length of 450 m to a vertical depth of 160 m."

The locations of the drill holes testing the SW pit extension target are shown in images on the company's website. The associated table lists significant results and a table on the company's website gives collar location, orientation and depth information for all holes.

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

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

HB13-118        107.3      128.0       20.7        9.4       1.19       0.03
incl.           107.3      109.2        1.9        0.9       4.84       0.22
and             132.5      158.0       25.5       11.6       0.54      trace
and             201.2      211.0        9.8        4.4       0.76       0.01
HB13-119          5.0       20.1       15.1       13.3       1.52       0.02
incl.             5.0       10.0        5.0        4.4       2.27      trace
HB13-120         64.1       87.0       22.9       17.5       0.75       0.01
incl.            82.5       85.5        3.0        2.3       1.66       0.01
HB13-121         80.8      106.5       25.7       12.5       1.67       0.15
incl.            85.0       90.0        5.0        2.4       2.08       0.18
incl.           100.0      105.0        5.0        2.4       3.25       0.28
HB13-122        160.0      170.5       10.5        7.3       0.92       0.01
HB13-123         18.7       27.0        8.3        7.3       0.72       0.08
and              40.9       59.0       18.1       16.0       1.64       0.07
incl.            40.9       51.3       10.4        9.2       2.61       0.11

Qualified persons

David Copeland, PGeo, chief geologist, who is a qualified person as defined by NI 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 and a qualified person as defined by NI 43-101, have reviewed and approved the scientific and technical content of this news release.

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