CORE GOLD ANNOUNCES TRANSITION IN BOARD OF DIRECTORS

Core Gold Inc. ("

Core Gold

" or the "

Company

") (TSX-V: CGLD, OTCQX: CGLDF), is pleased to announce the appointment of Mr. Matthew Carr as a Director of the Company’s Board of Directors. Mr. Carr is also currently an Executive Director of Titan Minerals Limited ("

Titan

"), the 91.07% shareholder of Core Gold. Mr. Carr is a successful and experienced company director having founded Urban Capital Group. Urban Capital Group is a private equity company with a strong focus on property backed investment and security. Matthew is also the Non-Executive Chairman of Andina Resources Ltd.. The Board has also accepted the resignation of Mr. Leonard Clough from the Board of Directors.  

“We are thankful to Leonard for the long-standing service, leadership and many years of commitment to our Board of Directors. Since 2011, he has supported the Company through several transitional periods during a challenging period in the junior mining industry and we must sincerely express our appreciation to Leonard for his contributions as a Director and his tireless dedication to Core Gold. We wish him well in all of his future endeavours,” said Mark Bailey, CEO and Director of Core Gold.

“We are pleased to welcome Matthew to the Core Gold Board of Directors. His experience in finance and capital markets will be of great value to the Company going forward,” said Mark Bailey, CEO and Director of Core Gold.

About Core Gold Inc.

The Company is a Canadian based mining company involved in the mining, exploration and development of mineral properties in Ecuador. The Company is currently focused on gold production at its wholly-owned Dynasty Goldfield Project. Mineral is treated at the Company’s wholly-owned Portovelo treatment plant. The Company also owns other significant gold exploration projects including the Linderos and Copper Duke area in southern Ecuador all of which are on the main Peruvian Andean gold-copper belt extending into Ecuador.

For further information please contact:

Mr. Mark Bailey, CEO, DirectorSuite 1201 – 1166 Alberni StreetVancouver, B.C.  V6E 3Z3Phone: [phone]Email: [e-mail]

Cautionary Notice:

This news release contains statements which are, or may be deemed to be, “forward-looking information” which are prospective in nature. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause Core Gold’s actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Important risks that could cause Core Gold’s actual results, revenues, performance or achievements to differ materially from Core Gold’s expectations include, among other things, risks relating to the actual results of additional exploration activities; fluctuating prices in metals and other commodities; possibility of accidents, equipment breakdowns, labor disputes or other unanticipated difficulties with or interruptions in operations; exploration cost overruns; the geology, grade and continuity of mineral deposits; currency fluctuations; availability of capital and financing to maintain the Company's operations and plans; general economic, market or business conditions; regulatory changes; timeliness of government or regulatory approvals; and other risks detailed herein and as disclosed in the Company’s filings as available on SEDAR at www.sedar.com. Other than in accordance with regulatory obligations, Core Gold is not under any obligation and Core Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.