Coastal Gold Enters Into Agreement to Sell Mangabal Nickel-Copper Project in Brazil

COASTAL GOLD CORP. (TSX VENTURE:COD)(FRANKFURT:CY41) (the "Company") has entered
into an agreement (the "Agreement") to sell its wholly-owned subsidiary,
Castillian Metais Ltda. ("CML"), to Falcon Metais Ltda. ("Falcon Metais"). CML
holds a 100% interest in the Mangabal nickel-copper project in Goias State,
Brazil (the "Mangabal Project"). 


In consideration for the shares of CML, Falcon Metais has agreed to assume all
liabilities and obligations of CML, including those relating to the Mangabal
Project, from and after the date on which the sale closes (the "Closing Date"). 


Pursuant to the Agreement the Company has also agreed to issue to Amazon Potash
Corp. ("APC"), the parent company of Falcon Metais, 3,117,040 common shares of
the Company at a deemed price of Cdn$0.05 per share in repayment of R$111,900
that Falcon Metais paid on behalf of the Company to the Departamento Nacional de
Producao Mineral ("DNPM") and an additional R$219,700 that Falcon Metais has
agreed to pay on behalf of the Company to DNPM in settlement of liabilities
relating to the Mangabal Project (the "Shares for Debt Settlement"). On March 3,
2014, the date on which the Company entered into the Agreement, one Brazilian
Real was worth 0.47 Canadian Dollars. 


Dr. Bill Pearson, President and CEO of the Company, commented: "The sale of the
Mangabal Project is consistent with Coastal Gold's stated strategy to sell its
non-core assets and focus the Company's resources on the development of the Hope
Brook Project." 


The completion of the sale of CML and the Shares for Debt Settlement are subject
to certain conditions precedent, including acceptance by the TSX Venture
Exchange. 


The Company also announces that Ms. Colinda Parent has resigned as Vice
President, Corporate Development of the Company. The Company thanks Ms. Parent
for her contributions and wishes her well in her future endeavors. 


ABOUT COASTAL GOLD 

Coastal Gold is a Canadian mineral exploration company listed on the TSX Venture
Exchange under the symbol "COD". Coastal Gold's flag ship property is the Hope
Brook Gold Project located in southwestern Newfoundland, which has 19.9 million
tonnes at 1.93 g Au/t for 1,239,000 ounces of indicated mineral resources and
1.3 million tonnes at 3.22 g Au/t for 138,000 ounces of inferred mineral
resources. In addition, there are inferred mineral resources in the tailings of
4.9 million tonnes at 0.85 g Au/t and 0.09% copper containing 134,500 ounces of
gold and 9.5 million pounds of copper. See the technical report entitled "2013
Mineral Resource Estimate Technical Report, Hope Brook Gold Project,
Newfoundland and Labrador, Canada" effective as of December 4, 2013, which is
available under the Company's profile on SEDAR at www.sedar.com. 


QUALIFIED PERSONS

Dr. Bill Pearson, P.Geo., President & CEO of Coastal Gold and a Qualified Person
as defined by NI 43-101, has reviewed and approved the scientific and technical
content of this news release. 


Cautionary Note Regarding Forward-looking Information 

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements regarding the estimation of mineral
resources and the Company's plans to advance the Hope Brook project. Generally,
forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such
forward-looking information, including but not limited to: general business,
economic, competitive, political and social uncertainties; the actual results of
current exploration activities; future prices of mineral prices; failure of
plant, equipment or processes to operate as anticipated; accidents, labour
disputes and shortages and other risks of the mining industry. Although the
Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.


NEITHER 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 RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Coastal Gold Corp.
Rob Hopkins
Manager, Investor Relations
416-861-5899
info@coastalgold.ca
www.coastalgold.ca


Coastal Gold Corp.
Bill Pearson
President & CEO
416-861-2968
president@coastalgold.ca
www.coastalgold.ca
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