Viper Gold Corporate Update

Viper Gold Ltd. ("Viper Gold" or the "Company") (TSX VENTURE:VPR) announces that
it has determined to effectively terminate the option agreement for the Campbell
Lake Property (the "Property") entered into with the vendor (the "Vendor") of
the Property on August 15, 2011. The Company has informed the Vendor of its
intention to effectively terminate the option agreement given its serious and
continuing concerns regarding the 39 samples provided by the Vendor in September
2011. 


Viper Gold continues to focus its efforts on the Corongo Property, having now
earned a fifty percent (50%) beneficial interest as press released on January
24, 2012, located in the Department of Ancash, Peru, and the Currie-Bowman
Property located near Timmins, Ontario, Canada. The Company continues to source
high quality exploration assets with precious metals potential in
socio-politically stable mining jurisdictions. 


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.  


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.  


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 Company may
incur expenses relate to the effective termination of the option agreement
referred to in this press release. The reader is cautioned not to place undue
reliance on this forward-looking information.

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