Crown Gold Closes Sale of Monte Cristo Property

TORONTO, CANADA, July 31, 2012 - Crown Gold Corporation (“Crown” or the “Company”) (TSX Venture: CWM) is pleased to announce that Gold Summit Corporation, U.S.A., a wholly owned-subsidiary of the Company, has completed the sale of the Monte Cristo property located in Esmeralda County, Nevada, U.S.A. to a subsidiary of Hecla Mining Company for an aggregate purchase price of US$4,500,000. Crown could also receive an additional US$1,000,000 if a certain post-closing condition is met. Crown will distribute US$3,650,000, and potentially more, to all shareholders of record as of a record date to be determined by the board of directors as soon as is practicable.

For more information please see the Crown website at www.crowngoldcorp.com.


For Further Information Contact:

Mr. Stephen Dunn, President and CEO
Crown Gold Corporation
(416) 361-2827
or email info@crowngoldcorp.com



Neither the 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 press release.

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.