Viper Gold Identifies Copper/Molybdenum in Soil Anomaly at Corongo

Viper Gold Ltd. ("Viper Gold" or the "Company") (TSX VENTURE:VPR) is pleased to
announce the results of recent soil sampling which has identified a new
copper/molybdenum in soil anomaly over an area of 1,200 metres east-west and up
to 900 metres north-south at Corongo Property in Peru. The Corongo Property is
jointly owned 50:50 with Duran Ventures Inc. where Viper Gold earned its fifty
percent (50%) beneficial interest in the property in 2011 as previously
announced and filed on SEDAR in a press release dated January 24, 2012.


The soil sampling program consisted of 215 samples taken along north-south lines
with a 200 metres line separation with a maximum length of 1,500 metres. The
soil sampling program focused on the Pucapampa area located over 3 kilometres to
the east of the Santa Rosa zone that was drilled in 2011. The program was
designed to identify areas of potential copper-molybdenum mineralization under
cover associated with an altered dioritic intrusion. Copper-in-soil values
included 78 samples (36%) with more than 500 parts-per-million ("ppm") and
molybdenum-in-soils values included 79 samples (37%) with more than 100 ppm. See
attached figures for sample locations and copper and molybdenum in soils
distribution. 


Results from sampling indicate a broad copper and molybdenum anomaly (defined by
values of greater than 500 ppm copper and/of 100 ppm molybdenum) that is broadly
coincident with the interpreted boundaries of the altered dioritic intrusion. 


Previous sampling on the Pucapampa area completed by Duran Ventures in 2009,
previously announced and filed on SEDAR, in a press release dated June 1, 2010
identified anomalous copper-molybdenum and gold-silver mineralization associated
with historic small scale mining and excavations. Initial underground chip
sampling indicates that the mineralization is characterized by anomalous mineral
contents which assay on average 0.17 grams per tonne ("gpt") gold, 4.5 gpt
silver, 0.141% copper and 0.040% molybdenum. Furthermore, limited surface rock
sampling from 2009 also returned anomalous metal contents that reached up to
2.96 gpt gold, 121.7 gpt silver, 0.570% copper and 0.044% molybdenum. 


"The definition of new copper and molybdenum soil anomalies in the Pucapampa
area is encouraging for the porphyry potential of the area, especially when
combined with the known porphyry style copper mineralization associated with the
Santa Rosa zone located approximately 3 kilometres to the east of Pucapampa.
Less than 20% of the Corongo Property has been explored to date and these
results further indicate that the property does not only have gold and silver
potential, but also copper and molybdenum potential." said Viper Gold President
Paul Davis.


Assay Information 

Samples are shipped to and assaying is carried out by the ALS Chemex Laboratory
in Lima, Peru, a laboratory whose quality control system complies with
International Standards ISO 9001:2000 and ISO 17025:2005. A four-acid digestion
with 33 element ICP-AES analysis is conducted on all samples, with silver, lead
and zinc being reanalyzed with atomic absorption spectrometry method when
analyzing over the ICP limits. Gold is assayed using a fire assay with an atomic
absorption spectrometry finish. With samples containing over 10 ppm gold, a
gravimetric finish is employed. A secure chain of custody is maintained in
storing and transporting all samples.


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.


Corongo Property 

The Corongo Property is located in the Department of Ancash in the Republic of
Peru, approximately 400 kilometres north of Lima. The property covers an area of
3,100 hectares and is comprised of 11 contiguous claims. The Corongo Property is
located in a portion of the Western Cordillera of Peru that hosts numerous
precious and base metal deposits, including Barrick Gold Corporation's Pierina
and Lagunas Norte gold mines and Compania Minera Antamina S.A.'s Antamina
copper-zinc mine.


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. The
exploration program is carried out under the supervision of Duran's President,
Jeffery Reeder, P.Geo., also a Qualified Person as defined in National
Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Davis is
responsible for all technical information contained in this news release.


Further Information 

For further information relating to the Company or this release please visit the
Viper Gold website at www.vipergoldltd.com or contact Paul Davis at (416)
915-4284.


Statements in this press release may contain forward-looking information,
including expectations of the results of future exploration and the potential of
the Corongo Property and the presence of potential copper, molybdenum and other
mineralization. The reader is cautioned that assumptions used in the
preparations of such information, including the interpretation of the sampling
results, the ability to find suitable targets, the ability to obtain necessary
government approvals for proposed exploration plans, the ability to control
operating costs, commodity price risk management activity, the ability to make
suitable acquisitions and dispositions, and the ability to access capital and
credit facilities 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 risks associated with the mining industry, commodity prices, exchange rate
changes, and potential 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. There is a specific risk that no
exploration activities will be undertaken on any of the Company's properties if
sufficient capital to do so is unavailable. The reader is cautioned not to place
undue reliance on this forward-looking information.


To view the first map associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/vipermap1.pdf 


To view the second map associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/vipermap2.pdf 


To view the third map associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/vipermap3.pdf