Viper Gold Earns 50% in Corongo Property in Peru

Viper Gold Ltd. ("Viper Gold" or the "Company") (TSX VENTURE:VPR) is pleased to
announce that it has issued 400,000 common shares to Duran Ventures Inc.
("Duran") thereby satisfying all of the payment terms of the Option Agreement
with Duran. Under the terms of the Option Agreement, Viper has now earned a
fifty percent (50%) beneficial interest in the Corongo Property located in the
Department of Ancash of Peru. 


"Earning Viper's fifty percent interest in the Corongo Property is an important
milestone for the Company" said Paul Davis, President and Chief Executive
Officer of Viper Gold. "Exploration results from the first phase of drilling on
the Corongo Property are encouraging with intercepts of gold and silver
mineralization in each area tested in the 2011 exploration program. Exploration
on the Corongo Property has only just begun and I believe these results confirm
the exploration potential of the Property. The ultimate goal of Viper Gold is to
advance the Corongo Property through a series of well designed exploration
programs, resulting in the definition of a gold and silver resource."


Assay results from twelve drill holes confirm the presence of gold, silver and
copper mineralization in the Santa Rosa East, Descubridora and Santa Rosa areas
as previously reported in press releases dated June 9 and July 26, 2011 which
are available on the Company's website at www.vipergoldltd.com or on SEDAR at
www.sedar.com. Drilling intersected gold and silver mineralization associated
with quartz-veins and quartz stockworks with alteration consistent with
epithermal systems. Significant assay results are summarized in the following
table:




----------------------------------------------------------------------------
                                    Width    Gold     Silver                
Hole ID  Area  From (m)    To (m)     (m)   (gpt)      (gpt)      Copper (%)
----------------------------------------------------------------------------
COR002    SRE    152.00    154.50    2.50    0.57      61.00            0.14
----------------------------------------------------------------------------
COR004    SRE      4.50      6.00    1.50    4.07      61.20            1.30
----------------------------------------------------------------------------
  and             74.50     76.20    1.70    2.15     1785.0            2.64
----------------------------------------------------------------------------
COR009    DES     45.00     46.40    1.40    2.48       8.00  less than 0.01
----------------------------------------------------------------------------
COR010    DES      7.00      9.50    2.50    0.42      37.74            0.04
----------------------------------------------------------------------------
  incl.            8.00      9.50    1.50    0.60      50.70            0.07
----------------------------------------------------------------------------
  and             19.50     32.50   12.50    0.91       9.10            0.01
----------------------------------------------------------------------------
  incl.           19.50     22.50    3.00    3.57      25.65  less than 0.01
----------------------------------------------------------------------------
COR011     SR     37.90     39.50    1.60    1.81        140            2.46
----------------------------------------------------------------------------



All assay intervals reported are core length and do not represent true widths
(defined as being measured at right angles to the direction of extension of the
sulphide body). SRE: Santa Rosa East; DES: Descubridora; SR: Santa Rosa.


A total of twelve (12) holes representing 1,757 metres of diamond drilling have
been completed on the Corongo Property to date. Future exploration work is
planned on the western portion of the property and may include ground
geophysics, mapping and sampling and establishing access to prepare the
Pucapampa and Breccia Zone areas for further exploration.


Assay Information

Samples were shipped to and assaying was carried out by the ALS Chemex
Laboratory in Lima, Peru, a laboratory whose quality control system complies
with International Standards ISO 9001:2000 and ISO 17025:2005. A four-acid
digestion with 33 element ICP-AES analysis is conducted on all samples, with
silver, lead and zinc being reanalyzed with atomic absorption spectrometry
method when analyzing over the ICP limits. Gold is assayed using a fire assay
with an atomic absorption spectrometry finish. With samples containing over 10
parts per million ("ppm") gold, a gravimetric finish is employed. A secure chain
of custody is maintained in storing and transporting all samples.


Company Profile

Viper Gold Ltd. is an emerging Canadian based junior exploration company focused
on the precious metals potential of the "Gold Corridor" in Northern Peru and the
Abitibi Greenstone Belt of Ontario, Canada. 


Corongo Property

The Corongo Property is located in the Department of Ancash in the Republic of
Peru, approximately 400 kilometres north of Lima. The property covers an area of
3,100 hectares and is comprised of 11 contiguous claims. The Corongo Property is
located in a portion of the Western Cordillera of Peru that hosts numerous
precious and base metal deposits, including Barrick Gold Corporation's Pierina
and Lagunas Norte gold mines and Compania Minera Antamina S.A.'s Antamina
copper-zinc mine.


QP Statement

The information in this release was prepared under the direction of Paul Davis,
P.Geo. President and CEO of Viper Gold, and, a Qualified Person as defined in
National Instrument 43-101 - Standards of Disclosure for Mineral Projects. 


Further Information

For further information relating to the Company or this release please visit the
Viper Gold website at www.vipergoldltd.com.


Statements in this press release may contain forward-looking information,
including expectations of the results of future exploration and the potential of
the Corongo Property including with respect to the bulk tonnage potential on the
property. The reader is cautioned that assumptions used in the preparations of
such information, including the ability to find suitable targets, the ability to
negotiate and enforce land access agreements with local communities, the ability
to obtain necessary government approvals for proposed exploration plans, the
ability to control operating costs, commodity price risk management activity,
the ability to make suitable acquisitions and dispositions, and the ability to
access capital and credit facilities may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company. These risks
include, but are not limited to, the risks associated with the mining industry,
commodity prices, exchange rate changes, income taxes political risks in Peru
and regulatory changes. Industry related risks could include, but are not
limited to, operational risks in exploration, development and production, delays
or changes in plans, risks associated to the uncertainty of reserve estimates,
health and safety risks and the uncertainty of estimates and projections of
production, costs and expenses. There is a specific risk that the diamond drill
campaign and additional exploration work referred to in this press release
cannot be completed as described herein or at all. The reader is cautioned not
to place undue reliance on this forward-looking information.
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