Compass Gold Corporation

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• Yanfolila
• Dandoko
• Kolondieba
• Solabougouda
• Moussala
• Yanfolila 43-101 Report - January 2010
• Yanfolila 43-101 Report - September 2011
• Dandoko 43-101 Report - September 2011

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Properties

Map 1: "Location of Compass Gold Properties in Mali"

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Compass Gold holds a 100% shareholding in Africa Mining. The key assets of Africa Mining comprise four exploration permits, : Yanfolila, Kolondieba, Dandoko, Solabougouda, one authorisation to explore (ATE):Moussala, and one application: Sirakourou.
The map above shows the relative position of the licenses. Dandoko and Moussala are located in Western Mali, in the "Kenieba-Koudougo Birimian window". The Yanfolila, Kolondieba, Solabougouda licenses and the Sirakourou application are located in Southern Mali. All 6 projects are on strike with World class gold deposits.

Yanfolila Exploration

Work completed on the Yanfolila license has identified 12 gold anomalies.  Three drilling programs have been completed at the main Solona Target:

Yanfolila is considered a principal property of Africa Mining and a 43-101 compliant report dated September 21, 2011 has been completed on this property ("Yanfolila 43-101 Report").

The 43-101 Report was prepared Richard Parker (MIMMM, FGS, C.Eng.) and Dr. Albert Wilkinson (MIMMM, FGS, C.Geol) from New Resources Management Services Ltd. A full copy of the report can be found here.

STAGE 1 (Completed 2011)  - 1,500m scout Diamond Core Drilling 30X50m “vertical” shallow holes in saprolite (weathered zone)

Assay results indicated a broad zone of gold mineralization

STAGE 2 (Completed 2012) - Diamond Core Drilling of “inclined” shallow holes completed to test mineralisation from the surface to a depth of 50m

Fire assay results show gold mineralization from near surface to a depth of 50m in 7 out of 8 drill holes

Results demonstrated the presence of gold mineralization in the weathered material from the surface to at least 50m depth

STAGE 3 (Completed in September 2012) – 4,530m Diamond Core drilling at Solona target to test mineralization to a depth of 160m

Results confirmed gold mineralization is continuing at depth as suggested by previous drilling and highlighted the presence of a large gold system.  Assays include:

6.30m @2.15g/t between 25.20m and 31.50m

3.95m @1.15g/t between 9.05m and 13.00m including 1m @9.16g/t

6.80m @1.15g/t between 64.32m and 71.12m

4.65m @2.54g/t between 40m and 44.65m

6.70m @1.87g/t between 129m and 135m including 2.70m @3.17g/t between 131.10m and 133.80m

Results from Auger drilling (5,088m) to a depth of 21m in 2 new areas at Yanfolila confirm a further extension of the mineralization over the Solona target as follows:

3km to the north and 2km to the south which remain open and both ends

1km to the northwest in a mineralized parallel structure

Yanfolila is considered a principal property of Africa Mining and a 43-101 compliant report dated September 21, 2011 has been completed on this property ("Yanfolila 43-101 Report").
The 43-101 Report was prepared Richard Parker (MIMMM, FGS, C.Eng.) and Dr. Albert Wilkinson (MIMMM, FGS, C.Geol) from New Resources Management Services Ltd. A full copy of the report can be found here

Dandoko Exploration

Four advanced gold anomalies,  Bembala, Diabarou, Disse and Gombaly have been identified on the Dandoko license as targets. These targets are drill-ready.

The 3,000m RC drilling program which started in December 2011 was not completed as the drilling company failed to fulfill its obligation. The contract was therefore cancelled in April 2012.

Only 12 holes RC holes have been completed on the Bembella target.

Unfortunately, the Diabarou, Disse and Gombaly. targets remained untested.

Bembala Target: Assay results have been received for only 5 inclined RC holes of the 15 holes drilled.

3 holes out of 5 show gold mineralization from near surface to a depth of 88m.

Best intersections and all mineralized intervals are given below and in table 5.

o RCDK012_1: 2m@ 2.3g/t at depth between 10 and 12m
o RCDK012_3: 6m@1.14 g/t at depth between 40 and 46m
o RCDK012_5: 12m@1.02 g/t at depth between 76 and 88m,
(including 2m@3.66g/t between 86 and 88m)

The widest interception is 16m @ 0.51 g/t and highest grade is 2m @ 3.66 g/t at a vertical depth of 88m. Results of the three holes that recorded gold values are set out below.

These are encouraging results as showing gold mineralization up to a depth of 80m.

Table 5 - Mineralized intervals at Bembella.

A 43-101 Report was also completed in respect of Dandoko.  This report is dated September 21, 2011 and prepared by Richard Parker (MIMMM, C.Eng.) from New Resource Management Services Ltd. ("Dandoko 43-101 Report"). A full copy of the report can be found here

Kolondieba - Solabougouda - Moussala - Sirakourou Exploration

A geochemical sampling and mapping is program underway on the Kolondieba and Solabougouda permits.

An early stage exploration program consisting of geochemical sampling, mapping and trenching has started on the Kolondieba and Solabougouda projects in Southern Mali. The airborne magnetic survey flown over the Solabougouda project has generated new targets which will be followed up from Q2 2012.

Africa Mining has applied to convert the Moussala permit from an "Authorization to explore", to a full "exploration research permit". We are excited about Moussala's location in Mali's Western gold belt and its close proximity to targets we have identified at the Dandoko project. Initial fieldwork is expected to begin in Q4 of 2012.

The Sirakourou project area is currently under application with initial fieldwork scheduled to commence after full granting of the exploration license.

The addition of the Solabougouda, Moussala and Sirakourou project areas to our portfolio in 2011 represent a great opportunity and potential for new gold discoveries.