Compass Gold Retains Wertheim + Company For Investor and Corporate Public Relations

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - May 4, 2012) - Compass Gold Corporation (TSX VENTURE: CVB), which is focused on gold exploration on four properties in Mali, Africa's third largest gold producer, today announced that it has retained Wertheim + Company Inc. (WCI) to assist the company in developing and carrying out an active investor and corporate public relations program.

"Compass Gold has been making encouraging progress in our exploration programs on our properties in Mali," said James Henderson, Chairman, President, and Chief Executive Officer. "As we continue to make progress, including the announcement of further results from our drilling program, we believe that the growth and profile of our company will benefit from working with an experienced investor and public relations company to help us in taking our story to investors."

Under the terms of the engagement agreement, Compass will pay Wertheim + Company (WCI) a monthly fee of C$4,000 plus disbursements for an initial nine-month period that is subject to cancellation or modification following 30-day notice in writing by either party. The engagement agreement with WCI is subject to regulatory approval.

Toronto-based Wertheim + Company (WCI), established in 1990, is led by communications industry veteran Richard (Dick) W. Wertheim with four decades of experience in investor and public relations. Mr. Wertheim is a recipient of Investor Relations magazine's Lifetime Achievement Award, recognizing him as "an individual who has made a truly exceptional contribution to investor relations in Canada." WCI works with a spectrum of large-, mid-, and small-cap public companies in various sectors. WCI is able to execute communications programs across North America, Europe, Latin America, and Asia.

"We are very pleased to have been chosen to work with Compass Gold Corporation at this exciting point in its development," said Mr. Wertheim. "Compass Gold has an experienced and proven executive team, including the leader of its exploration program, Dr. Madani Diallo, who has a history of discovering large gold deposits in Mali and West Africa. The company has successfully attracted institutional financing and has made solid progress in its exploration program. As Compass Gold continues to make progress, we look forward to assisting the company in raising its profile with investors in Canada and internationally."


About Compass

Compass Gold Corporation, a Tier 2 mining issuer listed on the TSX Venture Exchange, is focused on gold exploration in Mali, Africa's third largest producer of gold. Compass, through its wholly-owned subsidiary Africa Mining, owns four gold exploration permits (Yanfolila, Dandoko, Kolondieba and Solabougouda) and holds applications for a further four areas (Moussala, Sirakourou, Yanfolila East, and Kolondieba Nord) covering a total of 1,138 sq km's in key gold-producing regions in south west Mali, West Africa. Further information is available at www.compassgoldcorp.com.


Forward-Looking Information

This news release may include forward-looking statements including forecasts, estimates, expectations, and objectives for future operations that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Compass Gold Corporation. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. It should be noted that there remain significant political risks in Mali associated with the recent military coup and the transitional government that remain a concern until democratic elections have been held. There can be no guarantee that the agreement for transitional government will remain in effect and democratic elections will take place as and when expected. Although to date there has been no impact on Compass' operations, there are no guarantees that Compass's operations in Mali will not be impact as a result of these governmental issues. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Risks and uncertainties about Compass Gold's business are more fully discussed in the company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Compass Gold Corporation does not assume the obligation to update any forward-looking statement, except as required by applicable law.


COMPASS GOLD CORPORATION

James Henderson
President


Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.



Contact Information

Compass Gold Corporation
James Henderson
President
info@compassgoldcorp.com
www.compassgoldcorp.com

Wertheim + Company Inc.
Richard W. Wertheim
Investor and Media Relations
+1 (416) 594-1600 or +1 (416) 518-8479 (cell)
wertheim@wertheim.ca