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Compass Gold Exploration Activites Update

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Vancouver, B.C.  July 26, 2010 – Compass Gold Corporation (TSXV:CVB) (“Compass” or the “Corporation”) is pleased to provide the following update outlining its exploration activities in Mali, West Africa over the last few months.

Key Points:

• Key works at Yanfolila Licence:
  • Detailed mapping over 250 sq km’s of the license.
  • Detailed fieldwork including 10,251 samples being obtained of which 5,659 samples are being assayed.
  • Completion of a topographic survey over the Solona artisanal mining and trench target area.
  • Ground magnetic survey over 12 sq km’s.
• Results by September 2010 are expected to show an extension of the strike length of known gold in soil mineralization from 300m to +1,000m.
• Results expected to result in a 2011 exploration program consisting of:
  • Further definition of key targets identified at Yanfolila.
  • Definition of potential mineralized body at Solona target at Yanfolila.
  • Assessment of further drill program for other Yanfolila targets within historical artisanal workings.

Under the terms of an option agreement, Compass advanced Africa Mining SARL $500,000 to fund an initial exploration program in Mali pursuant to which it will have earned an initial 20% interest in Africa Mining.  Africa Mining holds 3 exploration licenses, being Yanfolila, Kolondieba and Dandoko. 

Yanfolila license:
Exploration activities have focused on this license and have been undertaken in accordance with the Phase 1 program set out in a report by Paul Dunbar P.Geo of Watt, Griffiths & McOuat Limited titled “A Technical Review of the Yanfolila Gold Concession, Mali, West Africa” dated January 15, 2010. 

In accordance with this Phase 1 program, Compass reports:

• Completion of field mapping of the entire 250 sq km’s of the license resulting in the identification of 3 material exploration targets being Solona, Yanfolila and Guendibi (“Targets”). Solona is considered the priority Target and each Target has an area of over 10 sq km’s
• Completion of the following exploration at each Target:

Solona Target:

• 4,186 geochemical samples collected and assayed.  Results are being compiled.
• 257 pit samples collected and assayed showing values up to 5g/t.
• 490 auger drill (21 m’s deep with 3m composite samples), 115 trench samples and 733 termite mound samples collected, but not yet assayed.
• A ground magnetic survey covering 12 sq. km has also been completed.
• 125m’s of trenching.

Yanfolila Target:

• 2,345 geochemical samples and 70 auger samples collected and not yet assayed.

Guendibi Target:

• 1,915 geochemical samples collected of which 1,005 have been assayed.

A total of 10,251 samples have been collected on the Yanfolila license, of which 5,659 have been assayed and these results are being collated. 

Kolondieba License
Exploration activities focused on undertaking a desk study of previous work on the license to allow the definition of a prospective target area and the completion of some ground geophysics.  The ground geophysics work is progressing and includes:

• Ground magnetic survey to cover a 7.5 sq km target area defined by field mapping.
• 0.62 sq. km induced polarization (IP) survey, within the previously mentioned 7.5 sq km target area, with the intent of defining a mineralized zone.

Field work on Kolondieba license will re-commence in October 2011 with a similar work program to the Yanfolila license including detailed mapping at 1:20,000 scale, geochemical sampling of the defined target areas, trenching to define possible mineralization, and potentially some shallow auger drilling.

Dandoko Licence
No fieldwork has been undertaken on the Dandoko license.  Africa Mining intends to commence a work program in November 2010, comprising geological/regolith mapping and soil geochemistry in order to outline targets for trenching by June 2011.

Expected Results of Exploration Program
The full results of the current exploration program are expected prior to September 2010 in time for Compass to assess whether it will proceed to fund a second work program ($1,500,000) to earn an additional 31% of Africa Mining.  In particular, the results are expected to assess the following:

• From the geochemical samples collected and analyzed, definition of anomalies with a strike length of over 1 km at each of the Solona, Yanfolila and Guendibi Targets.  Further work will then be undertaken on these anomalies commencing October 2010.
• From the trenching and auger drilling at Solona, definition of a mineralized body to be drill tested in early 2011.
• From the auger drilling at Yanfolila, assessment of whether further scout drilling should be undertaken to test historical artisanal workings and the potential depth of the weathered zone.

About Compass Gold Corporation

Compass Gold Corporation is a Tier 2 mining issuer listed on the TSX Venture Exchange and focused on gold exploration in Mali, Africa’s 3rd largest producer of gold.  Compass holds an exclusive option to acquire an indirect 51% working interest in three gold exploration permits (Yanfolila, Dandoko and Kolondieba) covering 634 sq km’s (156,664 acres) in key gold producing regions in south west Mali, West Africa.

COMPASS GOLD CORPORATION

“James Henderson”

James Henderson, President

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Compass Gold Corporation. Statements regarding expectations and interpretation of drilling results at Yanfolia’s Solona target being associated with gold mineralization are subject to all of the risks and uncertainties normally incident with undertaking mineral exploration in Africa, including technical, operational and environmental risks associated with gold exploration including but not limited to completion of final sampling results and the accuracy of the technical evaluation of such results which cannot be relied upon until final verified independent results are reviewed by Compass. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Compass Gold Corporation does not assume the obligation to update any forward-looking statement, except as required by applicable law.