Coral Provides Year End Summary and Outlook for 2011

Coral Gold Resources Ltd. (TSX
VENTURE:CLH)(OTCBB:CLHRF)(BERLIN:GV8)(FRANKFURT:GV8) - 


Dear Shareholder,

I am pleased to present a review of Coral's achievements in 2010 and outlook for
2011. With gold prices at all-time highs and continuing to climb, Coral is in
prime position to capitalize on current market sentiments.


Management Remains Focused on the Following Key Objectives:



1.  Move Robertson towards production
2.  Upgrade the property's inferred gold resource
3.  Produce a Preliminary Economic Assessment ("PEA")
4.  Acquire permitting for further exploration on Robertson from the BLM



Focused On Moving Towards Production

With the price of gold holding above $1,000, we are focused on moving the
Robertson project towards production. We have looked at the option of continuing
to expand resources like we've done over the past several years, but we believe
that greater value now lies in upgrading resources and laying the groundwork for
an open pit/heap leach operation. Past feasibility studies were conducted by
Amax Gold/MDRI (now AMEC) at Robertson in 1994, when gold was under $400 per
ounce, and are greatly assisting Coral's work today.


Robertson Property

In February 2010, the Company announced a US$1.5 million plan and budget aimed
at advancing the Robertson Property towards a Preliminary Economic Assessment
Report. The program consists of 36 diamond core and 22 reverse circulation holes
along with metallurgical test work. In addition, the plan is focused on
upgrading near-surface oxide resources in the Gold Pan, Altenburg Hill and
Porphyry zones to the measured and indicated categories. The metallurgical test
work will help establish the suitability of the oxide mineralization in those
zones for heap leaching.


In April 2010, SRK Consulting (US) Inc., our environmental compliance and
permitting consultants, submitted an amended Plan of Operation ("PoO") to the
U.S. Bureau of Land Management ("BLM") and the Nevada Department of
Environmental Protection ("NDEP") to allow us to carry out our work plan. A
setback occurred when the BLM declined our drilling permit application because
our existing Environmental Assessment (circa 1980's) was out of date. Realizing
the importance to our company of the ability to keep drilling, the BLM suggested
that we withdraw our Amended Plan of Operations ("APO") and revert back to a
previous APO from 2007 that allowed us, without any amendments, to drill on
certain areas of the property.


In June 2010, we withdrew our original APO when the Bureau of Land Management
determined that a new Environmental Assessment ("EA") of the Robertson property
would be required. We immediately commissioned SRK to commence work on the new
EA which will include archeological and endangered species studies, as well as
addressing a number of other environmental issues. While the completion of the
new comprehensive Environmental Assessment (EA) has delayed certain parts of the
drill program, Coral stands by its on-going commitment to sound environmental
management.


Triplet Gulch

Despite the permitting setback, we completed 12 RC holes at Triplet Gulch that
were previously permitted under the 2007 APO. Drilling began June 1 and was
completed on June 22 (for results please see news releases dated June 09, July
07 and Sept. 17, 2010).


Gold Pan, Altenburg Hill and Porphyry Deposits

A limited diamond drilling program at the Gold Pan and Altenburg Hill zones was
also permitted under the 2007 APO. A program totaling 6,700 feet was conducted
that represents the first phase of the diamond core drill program announced in
the Company's 2010 work plan and budget. The program was designed to verify the
2008 RC drilling assay results and provide material for metallurgical test work.
The Gold Pan, Altenburg Hill and Porphyry zones represent near surface resources
that could potentially be developed as an open pit/heap leach operation. Past
metallurgical testing of Porphyry Zone mineralization returned favorable gold
recoveries from the oxide material. Core drilling began on September 16 and was
completed December 10 (for results from the first nine holes please see news
releases dated (Nov. 03, Nov. 11 & Dec. 08, 2010).


Plans for 2011

As gold prices and global exploration expenditures continue to rise, production
levels are reported to be declining; illustrating the growing disparity between
supply and demand for gold. With historically high gold prices many producers
are looking at developing large bulk-tonnage deposits like the Robertson project
to capitalize on current market conditions.


Sufficiently funded for 2011, Coral is determined to take an aggressive approach
in the coming year to maximize growth through adding value to the Robertson
Project. We feel that this is best achieved by moving the project towards
production.


In January, after all assay results from the Gold Pan and Altenburg Hill core
drilling have been received, selected samples will be sent to McClelland Labs
for metallurgical testing. The results of the test work will be incorporated in
a new PEA to be prepared by Beacon Hill Consultants. We expect the completed
report late in the second or early in the third quarter. Concurrently, we will
continue to conduct the mandated Environmental Assessment on the property that
is part of our new Amended Plan of Operation. Once the new APO/EA are approved
by BLM and NDEP, Coral will be permitted 80 acres of new surface disturbance, or
about 500 new drill sites. While the permitting process continues in 2011, Coral
plans to continue exploration on the property using various geophysical surveys,
geological mapping and soil geochemistry.


Finally, I would like to thank our loyal shareholders for remaining patient
through good and bad times as well as our staff for their continued excellent
work in the office and in the field.


ON BEHALF OF THE BOARD

David Wolfin, President & Chief Executive Officer

This release contains statements that are forward-looking statements and are
subject to various risks and uncertainties concerning the specific factors
disclosed under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such information contained
herein represents management's best judgment as of the date hereof based on
information currently available. The Company does not assume the obligation to
update any forward-looking statement.