Coral Announces Closing of Private Placement and Conditional Acceptance of Option and Joint Venture Agreement

Coral Gold Resources Ltd. (TSX
VENTURE:CLH)(OTCBB:CLHRF)(BERLIN:GV8)(FRANKFURT:GV8) ("Coral" or the "Company")
is pleased to announce that, pursuant of its news release dated March 5, 2014,
the Company has closed its non-brokered private placement. The Company raised
gross proceeds of $705,500 through the issuance of 4,150,000 common shares at a
price of C$0.17 per common share. The proceeds of the Private Placement will be
used for exploration and for general working capital.


Further to its news release of March 5, 2014, the Company also announces that it
has received conditional approval by the TSX Venture Exchange for an exploration
and option to joint venture agreement (the "Option Agreement") with Coral
Resources, Inc., the Company's wholly owned subsidiary, Barrick Gold Exploration
Inc. ("Barrick Gold"), and Barrick Gold Corporation ("Barrick"), pursuant to
which Barrick Gold has been granted an option to earn up to an undivided 60%
interest on the Company's Gold Ridge Property in Nevada (consisting of a portion
of the Robertson Property) in consideration for Barrick Gold incurring
US$12,000,000 in exploration expenditures over a five year period. In addition,
Barrick Gold has the option to increase its interest by an additional 15% for an
aggregate undivided 75% interest by preparing and delivering to the Company a
scoping study. The Option Agreement also provides that upon Barrick Gold
exercising its option, a 60%/40% or a 75%/25% joint venture between the parties
will be established in order to further explore the Gold Ridge Property.


ON BEHALF OF THE BOARD

David Wolfin, President& Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. 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.
Except as required by law, the Company does not assume the obligation to update
any forward-looking statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Coral Gold Resources Ltd.
David Wolfin
President& Chief Executive Officer
604.682.3701
604.682.3600 (FAX)
[e-mail]
www.coralgold.com