Compass Gold Announces Grant Of Options

Toronto, Ontario, May 22, 2019 – Compass Gold Corporation (TSX-V: CVB) (Compass or the Company) announced today that the Board of Directors has approved the issuance of 775,000 options to officers, employees and consultants of the Company. Each option is exercisable into one common share of the Company (each, a “Common Share”) at an exercise price of $0.30 per Common Share and having a term of five years.

The total number of outstanding options under the Company’s plan, including the grant above, is now 2,800,000 options or approximately 7.2% of the outstanding Common Shares. The Stock Option Plan allows for up to 10% of the outstanding Common Shares to be reserved for stock options.

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DRILLING AT FARABAKOURA INTERSECTS 32 M @ 3.02 G/T GOLD

Mineralized System Extended to 500 m; Remains Open Along Strike

Toronto, Ontario, May 15, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the recently completed exploration drilling at the Farabakoura artisanal workings on the Ouassada permit, Sikasso Property in Southern Mali.

Highlights

  • Completed 13 reverse circulation (RC) drill holes at Farabakoura artisanal workings, totalling 1,928 m
  • Intercepted gold mineralization in three holes, increasing the known strike length of the mineralized system to 500 m, which remains open along strike
  • Visible gold noted in RC chips (OURC017)
  • Best interval: 32 m @ 3.02 grams per tonne (g/t) gold (Au) from 24 m, including 6 m @ 10.21 g/t Au
  • 3,000 m drilling program is planned at Farabakoura to test additional targets

Compass CEO, Larry Phillips, said, “This latest drilling has extended our primary target zone, the Farabakoura Pit Zone, to a length of over 500 m, and the structure remains open to the southeast. We now have a clearer understanding of the rock types and structures that are the main controls on mineralization. We will use this information to drill additional targets underlying the extensive Farabakoura artisanal workings. A 3,000 metre drill program with our strategic partner, Capital Drilling, will commence immediately.”

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DRILLING COMPLETED AT FARABAKOURA – Additional Work Underway in Preparation for More Drilling

Toronto, Ontario, May 8, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the results of their ongoing exploration activity on their Yanfolila North and Yanfolila South blocks, comprising parts of the Sikasso Property in Southern Mali.

Highlights

  • Completed 13 reverse circulation (RC) drill holes at Farabakoura artisanal workings, totalling 1,928 m
  • Completed a detailed 3-sq.-km ground magnetic survey over the Kabangoué workings
  • Ongoing 60 km of ground induced polarization (IP) examination at Ouassada and Faraba-Koura
  • Identifying new drilling targets based on latest drilling and geophysical results 

Compass CEO, Larry Phillips, said, “We have completed our latest round of drilling at Farabakoura, which has advanced our knowledge of this target area.  Assays are pending for the last four of the thirteen holes drilled, and we expect to be able to release them within the next ten days.  In the meantime, our technical team has been busy performing a number of geophysical and geochemical surveys.  The results of all of this work will be used to finalize our next drilling program on the Ouassada and Faraba-Coura permits, which we expect to begin before the end of this month.”

Reverse Circulation Drilling (Farabakoura)

As previously announced (see Compass news release dated March 28, 2019), the Company planned to conduct approximately 1,000 m of additional drilling at the extensive Farabakoura artisanal site.  The focus of this additional drilling was to test two parallel NW-trending structures, termed the Farabakoura Pit Structure, and the Kabangoué Structure, and the general east-west trending structure termed the Farabakoura East Structure.  Drilling targets were based on the interpretation of geophysical survey data and previous drilling results.  The Company was able to extend this program to include a total of 13 new RC holes for a total length of 1,928 m.  The final drill hole, OURC025, was completed on May 3.  Results will be announced once the final assays are received from the laboratory and they pass appropriate industry QAQC protocols.

Ground Magnetic Study (Kabangoué)

A detailed ground magnetic survey, covering an area of 3 sq. km and centred on the Kabangoué artisanal workings, was completed on May 6, 2019.  The north-south orientated grid is at a line-spacing of 50 m and will provide resolution to help plan the next phase of drilling at the artisanal workings.  The field work was performed by technicians from EurekaGeo, a mineral exploration consultancy based in Bamako, Mali.  This magnetic survey data will be interpreted by Jeremy S. Brett, M.Sc., P.Geo. (MPH Consulting Limited, Toronto), in consultation with Compass staff.

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Compass Gold Closes $2,728,300 Private Placement

Toronto, Ontario – April 25, 2019 – Compass Gold Corporation (TSX-V: CVB) (“Compass” or the “Company”) announced today that has issued, on a non-brokered private placement basis, a total of 9,094,335 common shares of the Company, at a price of $0.30 per share, for aggregate gross proceeds of $2,728,300, pursuant to the closing of the previously announced private placement (see Compass news releases dated April 8th and 15th, 2019) (“the Offering”).

In connection with the closing of the Offering, the Company issued an aggregate of 359,543 broker warrants (the “Broker Warrants”) and paid an aggregate of $107,863 in cash to certain finders. Each Broker Warrant entitles the holder thereof to purchase one common share of the Company for a period of 12 months from date of closing at an exercise price of $0.30 per share.

Closing of the Offering is subject to the receipt of all necessary regulatory approvals. All the shares issuable pursuant to the Offering will be subject to a hold period expiring four months and one day after the date of issuance.

Larry Phillips, Compass Gold’s President and CEO, said, “The successful completion of this offering represents another positive milestone in the progress of our company, one which will enable us to continue with our vigorous exploration of our highly prospective Sikasso gold property in southern Mali. I would like to thank the many existing shareholders as well as the key new strategic investors who have participated in this offering for their support. Thank you as well to our CFO, Lou Nagy for coordinating this rather complex process, as well as to Beacon Securities and INFOR Financial for their advisory services with this offering.”

The funds received from the Offering will enable the Company’s technical team to follow the current drilling program with an aggressive drill campaign of up to 10,000 metres across the Ouassada, Faraba-Coura, Sankarani permits and the Yanfolila South permit block, which is targeted for completion before the end of 2019. This drilling is predicated on the results of the ongoing induced polarization (IP) geophysical survey, geochemical sampling of extensive artisanal areas, and geological mapping.

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Increases Size of Private Placement to $2.7 Million

Toronto, Ontario – April 15, 2019 – Compass Gold Corp. (TSX-V: CVB) (“Compass” or the “Company”) announced today that it intends to increase the size of its previously announced (see Compass news release dated April 8, 2019) non-brokered private placement from up to 6,700,000 common shares to up to 9,000.000 common shares of the Company, at a price of $0.30 per share, for aggregate gross proceeds of up to $2.7 million (the “Offering”). This increase from the proposed $2.0 million offering is in response to heavy demand from existing shareholders and new participants.

The proceeds of the Offering will be used to further advance the Company’s ongoing exploration efforts at its Sikasso Property in Southern Mali, as well as for general corporate purposes. The revised offering has been fully allocated and the Company is proceeding towards an expected closing on or before April 24, 2019. Closing of this Offering is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Larry Phillips, Compass Gold’s President and CEO, said, “While we were confident that we would be able to meet our original target of $2 million, in fact, we received strong interest from existing shareholders that exceeded that amount. We also received significant interest from key strategic investors wishing to participate. By increasing the amount of the Offering, we have been able to accommodate most of the demand and strengthen our ownership group.”

He added, “On behalf of our Board and the entire Compass team, I appreciate the support of our new and existing shareholders and we look forward to continuing to build on the excellent results we have already delivered at our Sikasso properties.”

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Compass Gold Announces Private Placement

Proceeds to Support Next Phase of Exploration

Toronto, Ontario – April 8, 2019 – Compass Gold Corp. (TSX-V: CVB) (“Compass” or the “Company”) announced today that it intends to issue, on a non-brokered private placement basis, up to 6,700,000 common shares of the Company, at a price of $0.30 per share, for aggregate gross proceeds of up to $2.0 million (the “Offering”).

The proceeds of the Offering will be used to further advance the Company’s ongoing exploration efforts at its Sikasso Property in Southern Mali, as well as for general corporate purposes.

On April 4, 2019, the Company initiated its latest exploration program involving a minimum of 1,000 metres of drilling at the Sikasso Property. Specifically, this work will be focused on testing: the Farabakoura and Kabangué trends to better determine the full extent of mineralization along these target areas; several promising IP targets at Ouassada/Faraba-Coura; artisanal gold workings at Sankarani; and, shallow soil gold anomalies on the four permits that comprise the Yanfolila South block. This work is expected to be completed by the end of this month.

Certain insiders of the Company may participate in the Offering and the Company may pay finder’s fees on a portion of the Offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation. Beacon Securities Limited and INFOR Financial Inc. have acted as advisors to the Company regarding this financing.

All the shares issuable pursuant to the Offering will be subject to a hold period expiring four months and one day after the date of issuance.

The securities offered pursuant to the Offering have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

It is anticipated that the closing of the Offering will occur on or prior to April 24, 2019. Closing of this Offering is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Larry Phillips, Compass Gold’s President and CEO, said, “Since our announcement on March 28th of our excellent drill results at the Farabakoura target zone, we have seen a surge of interest in the Company from new investors. Our original shareholders also appreciate the value that our exploration team is creating through the outstanding work done at all of our properties during these past 16 months. The funds received from this offering will allow us to follow on from the current 1,000 metre drilling program at Farabakoura with an aggressive drill campaign of up to 10,000 metres across three target areas that we plan to execute before the end of this year. Clearly, we are entering an exciting stage for the Company and our shareholders and we welcome their participation in this offering.”

Participation by insiders in the Offering will be exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101.

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Conference Call playback

Your replay can be reached by calling the telephone number (see list below) and entering the replay passcode: (119929839).

A recording was initiated on the following conference and has been enabled for replay:

Conference: 117489550
Conference Date: Wednesday, April 03, 2019
Conference Time: 11:50 AM  (Eastern Time)

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Investor Conference Call & Review

Toronto, Ontario, April 2, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to announce that it will host a conference call to provide a review of the Company’s recent activities, as well as its plans for further exploration at the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Prior to the call, investors are invited to review the Company’s latest news releases (http://compassgoldcorp.com/category/news/) as well as its Investor Presentation (http://compassgoldcorp.com/investor-presentation/

Compass CEO, Larry Phillips, said, “The exciting exploration results that we recently announced have attracted significant attention to Compass, including the notice of many investors who may not previously have been aware of our company. For all investors, we want to ensure that you understand what we have accomplished in the past 16 months and where we are going next. We hope that you will either join us on this call or go to our website afterwards to listen to the replay of this call.”

The call is scheduled for 12:15 pm Eastern Time on Wednesday, April 3rd, 2019.

Select call-in details: Participant passcode: 121779

Read the full news release here

Diamond Drilling at Farabakoura Intersects High-Grade Gold Mineralization

Additional Drilling Planned to Determine Extent of Zone

 Toronto, Ontario, March 28, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the results of the one diamond drill hole completed on extensive artisanal workings at the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Highlights

  • Identified three discrete mineralized zones within an 18 m-wide interval
  • 4 m @ 83.82 g/t Au (from 63 m)
  • 4 m @ 7.04 g/t Au (from 69 m)
  • 3 m @ 4.18 g/t Au (from 78 m)
  • 1 m interval (with a 45 cm true thickness vein) contained 329.92 grams per tonne gold (g/t Au)
  • Mineralization correlated well with adjacent reverse circulation (RC) drill holes and a 1,600 m target structure identified during recent ground geophysics
  • 1,000 m drill program planned at Farabakoura to test additional structures

Compass CEO, Larry Phillips, said, “The results from our first diamond drilling thus far at Farabakoura are exceptional. While the 330 g/t Au (10.6 troy ounces per tonne) interval reflects the nuggety nature of the gold, it is important to note that the three mineralized structures around it correlated with what we found in the adjacent RC holes drilled in December. Looking at the larger picture, we also see that the mineralization drilled to date at Farabakoura is coincident with structures identified from our ground geophysical surveys. We’re looking forward to starting to further drill test these trends soon, which are up to 1,600 m in length, to determine the full extent of the mineralization in this highly prospective portion of our permits.”

Diamond Drilling (Farabakoura)

As previously announced (see Compass news releases dated January 10 and February 14, 2019), a single 201 m inclined diamond drill hole, OUDD001, was drilled in early January 2019 beneath the artisanal gold working at Farabakoura, Ouassada permit. The purpose of the hole was to provide information on rock types, structure and the nature of mineralization encountered in two adjacent, 10 m away, reverse circulation (RC) drill holes (OURC004 and OURC005). OURC004 contained a 37-m mineralized zone with 0.87 grams per tonne gold (g/t Au), which included intervals of 10 m @ 2.25 g/t Au (from 29 m), and 9 m @ 0.84 g/t Au (from 59 m). OURC005 contained two broad mineralized zones. The first zone was a 46-m mineralized zone with 0.66 g/t Au (from 18 m), which included intervals of 6 m @ 0.53 g/t Au (from 18 m), and 13 m @ 1.97 g/t Au (from 51 m). The second zone was 27 m @ 0.92 g/t Au (from 96 m), which included 16 m @ 1.47 g/t Au (from 96 m).

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Ground Geophysics Identifies Potential Structures Under Ouassada Artisanal Workings

Additional Drilling Planned to Determine Extent of Zone

Toronto, Ontario, March 26, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the results of detailed ground geophysics performed on the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Highlights

  • 1,600 m long target structure has been identified by ground geophysics underlying three artisanal working areas at Farabakoura
  • Structure corresponds to gold mineralization identified in five bedrock drill holes
  • Additional structures also identified in Farabakoura area
  • Planning is underway for additional 1,000 m drill program around Farabakoura, and ground geophysical survey has started over coincident geophysical and geochemical targets on Ouassada and Faraba-Coura permits.

 

Compass CEO, Larry Phillips, said, “Our recently completed ground geophysical surveys identified structures in the bedrock that correlated well with known zones of gold mineralization revealed from recent drilling, providing the latest support for our exploration efforts in this area. Next, we plan to initiate bedrock drilling as soon as possible to determine whether the structure is mineralized for the entire 1,600 m length that our ground geophysics has indicated the zone could extend.”

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