Compass Gold Grants Stock Options to New Director

VANCOUVER, May 15, 2012 /CNW/ - Compass Gold Corporation (TSXV: CVB) today announced the grant of stock options to recently appointed non-executive director Larry Phillips to purchase up to 300,000 common shares. Each option is exercisable to acquire one common share of Compass at a price of $0.12 per common share until May 14, 2017, in accordance with the terms of Compass' stock option plan.

About Compass

Compass Gold Corporation, a Tier 2 mining issuer listed on the TSX Venture Exchange, is focused on gold exploration in Mali, Africa's third largest producer of gold. Compass, through its wholly-owned subsidiary Africa Mining, owns four gold exploration permits (Yanfolila, Dandoko, Kolondieba and Solabougouda) and holds applications for a further four areas (Moussala, Sirakourou, Yanfolila East, and Kolondieba Nord) covering a total of 1,138 sq km's in key gold-producing regions in south west Mali, West Africa. Further information is available at www.compassgoldcorp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

COMPASS GOLD CORPORATION

James Henderson, President

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For further information:

James Henderson President Compass Gold Corporation Email: [email protected] www.compassgoldcorp.com +1 (604) 638-8067

Investor and Media Relations Richard W. Wertheim Wertheim + Company Inc.

Email: [email protected] +1 (416) 594-1600 +1 (416)518-8479 (cell)

CO: Compass Gold Corporation

CNW 08:00e 15-MAY-12