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Published on 5/18/2007 in the Prospect News PIPE Daily.

New Issue: Coral Gold settles placement of units for C$4.23 million

By Laura Lutz

Des Moines, May 18 - Coral Gold Resources Ltd. completed a slightly upsized private placement of units for C$4.23 million.

The company sold 1.41 million units of one share and one transferable warrant at C$3.00 per unit. Each warrant will be exercisable at C$3.50 for one year.

The placement priced on April 20 as an offering of up to 1.4 million units, for up to C$4.2 million.

The deal was non-brokered.

Proceeds will be used for exploration and development and for working capital.

Coral Gold is a resource exploration company based in Vancouver, B.C.

Issuer:Coral Gold Resources Ltd.
Issue:Units of one share and one transferable warrant
Amount:C$4.23 million
Units:1.41 million
Price:C$3.00
Warrants:One per unit
Warrant expiration:One year
Warrant strike price:C$3.50
Agent:Non-brokered
Pricing date:April 20
Settlement date:May 18
Stock symbol:TSX Venture: CGR
Stock price:C$2.96 at close April 19
Stock price:C$2.93 at close May 18

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