Viper Gold Announces Cancelling of Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Viper Gold Ltd. ("Viper Gold" or the "Company") (TSX VENTURE:VPR) has decided to
cancel the private placement of Units and Flow Through Units originally
announced on October 3, 2012 as it has been determined that financing is
currently not available at terms acceptable to the Company due to unfavourable
market conditions. The Company will continue to monitor market conditions and
identify appropriate opportunities when conditions improve.


Company Profile 

Viper Gold Ltd. is an emerging Canadian based junior exploration company focused
on the precious metals potential of the "Gold Corridor" in Northern Peru and the
Abitibi Greenstone Belt of Ontario, Canada.


QP Statement 

The information in this release was prepared under the direction of Paul Davis,
P.Geo. President and CEO of Viper Gold, and, a Qualified Person as defined in
National Instrument 43-101 - Standards of Disclosure for Mineral Projects.


For further information relating to the Company or this release please visit the
Viper Gold website at www.vipergoldltd.com


Statements in this press release may contain forward-looking information,
including expectations as to the completion of the financing and the use of
proceeds of the financing. The reader is cautioned that assumptions used in the
preparations of such information, including the receipt of required regulatory
approvals and the ability to identify appropriate opportunities, may prove to be
incorrect. Events or circumstances may cause actual results to differ materially
from those predicted, a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control of the
Company. These risks include, but are not limited to, the market price of the
Company's shares and the risks associated with the mining industry, commodity
prices, exchange rate changes, income taxes political risks in Peru and
regulatory changes. Industry related risks could include, but are not limited
to, operational risks in exploration, development and production, delays or
changes in plans, risks associated to the uncertainty of reserve estimates,
health and safety risks and the uncertainty of estimates and projections of
production, costs and expenses. The reader is cautioned not to place undue
reliance on this forward-looking information. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Viper Gold Ltd.
Paul Davis
[phone]
416-915-4282 (FAX)
www.vipergoldltd.com