Coral Gold “CLH” Enters Into Option & JV Agreement & Private Placement with Barrick

Coral Gold Resources LogoCoral Gold (TSX.V-CLH) (OTCBB: CLHRF) entered into an agreement with Barrick Gold Exploration to earn up to an undivided 60% interest in Coral’s Gold Ridge property in Nevada in consideration for Barrick Gold incurring US$12million in exploration expenditures over a five year period.  Barrick’s 25-person Goldrush Discovery Team was recently received the Thayer Lindsay Award recognizing their team for the 14.1 million ounce world class Goldrush deposit in the Cortez District, Nevada located on an adjacent property.

Coral Gold Resources Ltd. Logo

The Company also announced that Barrick has subscribed for 4,150,000 shares at a price of CAD$0.17 for gross proceeds of CAD$705.500. Barrick is now a major stakeholder in Coral Gold representing 9.9% of Coral Gold’s share capital.

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