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Coral Gold Increases Resource Estimate by 110% to 2.3 Million Ounces Gold

Friday, December 14th, 2007

Coral Gold Resources Ltd. has received the updated resource estimate prepared by Beacon Hill Consultants (1988) Ltd. for the Robertson property located in Crescent Valley Nevada.
The estimate incorporates results from drilling programmes done by Coral since the last published resource estimate (April 25, 2006 – see Coral website – www.coralgold.com).
The updated resource estimate report, under preparation by Beacon Hill, will be available within 45 days of the date of this news release and will be posted on SEDAR
The inferred resource, for all zones contained within the Robertson Project, is estimated to be 91.3 million tons grading 0.025 ozAu/ton for contained gold of 2.3 million ounces (82.8 million tonnes grading 0.87gAu/tonne) The following table summarizes the resource estimate at a 0.015 ozAu/ton (0.467 gAu/tonne) cut-off grade:
Estimated Inferred Resources by Zone
Zone, Quantity Tons, Grade ozAu/ton, Quantity Tonnes, Grade gAu/ton, Contained ounces gold
Distal 10,355,041 0.0335 9,376,398 1.148 346,893
39A 25,010,247 0.0287 22,690,382 0.984 717,794
Triplet Gulch 5,904,713 0.0269 5,357,012 0.922 158,837
Outside 2,187,500 0.0208 1,984,595 0.713 45,500
Gold Pan Oxide 7,049,181 0.0262 6,395,323 0.898 184,689
Altenburg Hill Oxide 4,558,402 0.0208 4,135,580 0.713 94,815
Porphyry Oxide 19,121,927 0.0213 17,348,243 0.730 407,297
Gold Pan Sulphide 12,053,279 0.0208 10,935,258 0.713 250,708
Altenburg Hill Sulphide 584,016 0.0176 529,845 0.603 10,279
Porphyry Sulphide 4,480,533 0.0223 4,064,934 0.765 99,916
TOTAL 91,284.800 0.025 82,817,600 0.870 2,316,728
– Gold ounces were calculated on the basis of US$600/oz Au and 70% Au recovery.
– The 0.015 ozAu/ton cut-off grade utilized to report the resource was derived from a mining cost of US$1.02/ton, process cost of US$5.00/ton and waste cost of US$1.14/ton.
– The mineral resources in the table above were estimated using the CIM Standards on Mineral Resources and Reserves.
– The database comprised a total of 1,160 drill holes, 533,453 feet (162,638 metres) of drilling and 101,757 gold assays.
– The inferred resource covers 6 distinct and separate areas; Distal, 39A, Gold Pan, Porphyry, Altenburg Hill, Southern Area and then all remaining blocks outside these areas that warrant inclusion as an inferred resource. In addition, Gold Pan, Porphyry and Altenburg Hill were separated into oxide and sulphide zones for analysis and modeling.
– An interpreted mineralized envelope was modeled into a solid in MineSight 3DTM, with six area mineralized zones and then separated into oxide and sulphide zones.
– Block dimensions of 25 feet (7.6 m) North, 25 feet (7.6 m) East and 20 feet (6 m) vertically.
– Grade interpolation – 20 foot (6 m) composites.
– Composites greater than 0.075 ozAu/ton (2.33 gAu/tonne) limited in influence to 100 feet (30.5 m).
– Tonnage estimates are based on 200 bulk historic density measurements carried out by previous operators. These were assigned to each block by zone. The resources are categorized as inferred since the amount and distribution of bulk tonnage factor data is sparse.

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