Discovery Gold Receives Ghana Ministry Consent and Signs Geological Consulting Agreement for Work on Edum Banso Gold Project

Jan 15, 2013, 09:15 ET from Discovery Gold Corporation

DENVER, Jan. 15, 2013 /PRNewswire/ -- Discovery Gold Corporation (OTCQB: DCGD) ("Discovery Gold" or the "Company") is pleased to announce (i) that the Company has received formal consent from the Ministry of Lands and Natural Resources of Ghana for its receipt of the assignment of the Option for the prospecting license for the Edum Banso gold project, and (ii) that the Company has executed a geological consulting agreement with CME & Co Enterprises Inc. of Vancouver for immediate undertaking of historic data compilation, site reconnaissance, and rock sampling work on the Edum Banso gold project.

Discovery Gold's President, Steven Flechner, said, "We are pleased to have received the formal approval of assignment from the new Ghana Mining Minister pursuant to the prior recommendation of the Ghana Minerals Commission, and we look forward to analysing the assay results and technical report from CME's contracted Edum Banso work.  CME has extensive experience in Ghana, including exploration work in the prolific gold producing Ashanti Gold Belt where the Company's Edum Banso gold project is strategically located in proximity to and in similar geologic structures as current gold production and recent gold deposit discoveries."

Mr. Flechner added that (subject to financing), "the Company anticipates following up CME's initial work with a detailed soil sampling and trenching program in order to identify and then pursue gold targets for drilling."

About Discovery Gold Corporation

Discovery Gold Corporation is an emerging U.S. based mineral exploration company.  The Company's wholly-owned subsidiary, Discovery Gold Ghana Limited, currently holds a 95% interest in the option of the exclusive rights to explore the Edum Banso Gold Project within the historic and prolific gold producing Ashanti Gold Belt in Ghana.

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Forward-Looking Statements/Disclaimer: Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Such statements may be identified by the use of words such as "anticipate", "believe", "expect", "may", "will", "would", "should", "plan", "projected", "intend", and similar expressions.  The Company bases these forward-looking statements on current expectations and projections about future events, based on information currently available. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements.  The Company disclaims any obligation to update any of its forward-looking statements, except as may be required by law.  The Company has no mineral resource or reserve estimate for the Edum Banso Gold Project at this time, has no assurance that it will discover significant mineral resources, and may not have sufficient funding to thoroughly explore, drill or develop its property.

SOURCE Discovery Gold Corporation