CWM Crown Mining Corp

Crown Gold Corporation ("Crown" or the "Company") (TSX VENTURE:CWM) is pleased
to announce that it has signed a letter of intent with an arm's length private
Canadian company, Argentium Resources Inc. ("Argentium"), to sell Crown's Monte
Cristo, Sugarloaf and Blue Sphinx properties in Nevada to Argentium for
$16,000,000 in cash and securities. The three properties are held in Crown's
wholly-owned subsidiary, Gold Summit USA Corporation. 


Argentium will pay $2,500,000 in cash, issue 13,500,000 shares with a value of
$1.00 each and issue 4,500,000 warrants (each warrant will entitle the holder to
purchase one additional Argentium share for $1.50 at any time within 36 months
after closing, subject to acceleration in the event that the 20 day volume
weighted average trading price of Argentium's shares on a Canadian stock
exchange exceeds $2.00 per share for a period of 20 consecutive trading days).
As well, Argentium has committed to spend at least US$10,000,000 on exploration
and development of the three properties over the next three years. The
transaction is subject to a number of conditions, including approval by each
company's board of directors, due diligence by each company of the other's
assets, completion of formal documentation, completion by Argentium of a
financing of not less than $15,000,000 at a price of not less than $1.00 per
share, listing approval for Argentium's shares for trading on a Canadian stock
exchange and any other necessary shareholder and regulatory approvals. 


Crown has NI 43-101 compliant inferred resources totaling approximately 339,000
ounces of gold at its Monte Cristo and Sugarloaf properties. The Monte Cristo
deposit has total inferred resources of 1,923,349 tonnes grading 4.51 g/t Au
above a cutoff of 1 g/t Au, containing about 279,000 ounces of gold. At the same
cut-off, the Sugarloaf deposit has indicated resources of 353,100 tonnes grading
3.27 g/t Au (about 37,000 ounces of gold) and inferred resources of 293,500
tonnes grading 2.47 g/t Au (about 23,000 ounces of gold). The third property
included in the proposed transaction is Crown's Blue Sphinx property which
contains well-defined, essentially undrilled, targets.


Crown's President and Chief Executive Officer, Stephen Dunn stated, "this
transaction will allow our three Nevada properties to be rapidly advanced by a
company that is well financed and able to source the necessary funding required
to put Monte Cristo into production. It not only recognizes the hidden value of
our key Nevada gold projects, but it also allows Crown shareholders to continue
to participate in their ongoing development through Crown's shareholdings in
Argentium. At the same time, Crown will now be able to focus all of our
exploration efforts on our Red Lake, Sakoose and Gogama projects in Ontario with
the benefit of a strong balance sheet."


About Crown 

Crown Gold, formed last year by the amalgamation of Crown Minerals and Gold
Summit, is exploring for high grade gold and silver deposits in Nevada and
Ontario. 


In Ontario, Crown has its McKenzie Island property at Red Lake where a spring
work program is being planned to follow up on its successful drill program this
past February that yielded promising results, including 2.2 oz/gold over 3 feet
(see Crown's news release dated March 3, 2011). Crown's other northwest Ontario
properties are its Sakoose property near Kenora and its Surprise Lake property
in the Uchi Belt, east of Red Lake. In northeastern Ontario, Crown holds three
other strategic land positions: one adjacent to Trelawney's Chester discovery
near Gogama, another at the old Stairs Mine near Matachewan and a third in the
heart of the Timmins camp.


In Nevada, in addition to its Monte Cristo, Sugarloaf and Blue Sphinx
properties, Crown has two other gold exploration properties, Gold Springs and
Black Warrior, each of which contains well-defined, essentially undrilled,
targets.


Larry Kornze, Senior Consultant to Crown Gold and a registered Professional
Engineer/Geologist, is designated as the Qualified Person under National
Instrument 43-101 and has reviewed and approved the contents of this news
release.


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

This press release contains forward-looking statements within the meaning of
applicable Canadian and U.S. securities regulation, 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.

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