New Carolin Gold Acquires Additional Claims Adjacent to Ladner Gold Property

New Carolin Gold Corp. (TSX - V: LAD) announces that it has entered into an option agreement, subject to approval by the TSX Venture Exchange, with Crucible Resources Ltd. (the "Optionor") to acquire 100% interest in 17 contiguous mineral claims covering approximately 2,606 hectares that are adjacent to the Company's Ladner Gold Property.  These claims cover approximately 10 kms of the Coquihalla Gold Belt located to the south of Company's claims.  This area comprises potential favourable geology and linear structures that are similar to those which host several gold mineralized showings and deposits which include the Carolin, Emancipation and Pipestem Mines, all of which were former small gold producers.  Pursuant to this acquisition, the Company now has 28 kms (130 sq kms) along the strike length of the Coquihalla Gold Belt.  

The terms of the agreement are:

(a)    expend a total of $250,000 on the Property in exploration and development expenses in the following amounts and by the times described.  Any amounts expended in any period in excess of the amount required to be expended shall be carried forward into the subsequent period or periods:

(i)    $250,000 on or before January 15, 2016;

(b)    make payments in the following amounts and by the times described:

• $5,000 on or before January 15, 2012 (completed);
• $5,000 on or before January 15, 2013;
• $5,000 on or before January 15, 2014;
• $5,000 on or before January 15, 2015; and
• $20,000 on or before January 15, 2016.

(c)    issue 50,000 options to the Optionor in the capital of the Company within 30 days of the TSX Venture Exchange approval of this Agreement.

(d)    Royalty
The royalty consists of a 2% NSR.  The Company has the right to buy back the first 1% of the NSR Royalty for the sum of $250,000 at any time, and the right to buy back the second 1% of the NSR Royalty for the sum of $500,000 at any time.

About New Carolin Gold Corp.  
New Carolin Gold is a Canadian-based junior mineral exploration and development company engaged in the acquisition, exploration, evaluation and development of 104 sq kms of contiguous mineral claims, collectively known as the Ladner Gold Project, located along the prospective and under-explored Coquihalla Gold Belt located in southeastern British Columbia, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.

ON BEHALF OF THE BOARD OF DIRECTORS

"Bruce W. Downing"
Bruce W. Downing, M.Sc., P.Geo, Hon.FEC
President & Chief Executive Officer
Office        778 - 294 - 3211
Email         This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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 the accuracy of this press release.  We seek Safe Harbor.

Not for distribution in the United States.

Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates.  These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict.  Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements.  Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.