Compass Gold Appoints Ian Spence as CEO and President

VANCOUVER, Dec. 4, 2012 /CNW/ - Compass Gold Corporation (TSXV: CVB), which is 
focused on gold exploration on four properties in Mali, Africa's third-largest 
gold producer, today announced the appointment of Ian Spence as Chief 
Executive Officer and President. 
"We are delighted to have attracted a high-calibre individual of Ian's 
credentials to join the management team, bringing with him a wealth of 
international exploration, resource development, mining, and senior management 
experience in addition to having a strong capital markets background," company 
Chairman and former CEO James Henderson said. 
"Ian played an instrumental role in recognizing the early potential of the 
West African gold assets of Perseus Mining Limited (TSXV: PRU, ASX: PRU) 
including a recommendation at that time to the board of Montagu Stockbrokers 
to undertake a A$3.7m initial public offering of Perseus. From those humble 
beginnings, Perseus today boasts a market capitalization of more than 
$1billion. It also is noteworthy that Ian has been a shareholder of Compass 
since February 2011," said Mr. Henderson. 
Mr. Spence continued his involvement and support for Perseus through the ASX 
listing process and announcements on early milestone achievements and provided 
market and analytical support for the early capital raisings. 
Mr. Spence holds a Master of Science in Mineral Exploration and Mining Geology 
and a MBA and brings with him more than 20 years' experience in geology and 
capital markets sectors. He has considerable extensive practical gold 
exploration, resource development, and mining experience in open-cut and 
underground environments, gained in the Archean greenstone terrains of Western 
Australia, which is a similar environment to the Malian geology. 
Mr. Spence comes direct from a Senior Mining Analyst Role at Canaccord Genuity 
Australia and prior to that he spent more than three years as a Managing 
Director and Executive Director to a number of private and listed coal 
companies in Mongolia. 
During his time in Mongolia, Mr. Spence was largely responsible for assembling 
and leading a 38-strong team that was successful in a number of discoveries of 
coal assets. This resulted in more than 0.8Bt coal in high-category JORC and 
NI 43-101 resources being placed on the books of those companies and resulting 
multiple increases in the market capitalization of those companies. 
"Ian has a unique mix of technical and capital market experience," Mr. 
Henderson further commented. "As we have previously reported, Compass is very 
encouraged with the initial results we have received to date from our 
exploration properties. Our Board believes that the expertise that Ian brings 
to Compass Gold will make 2013 a pivotal year for the company advancing toward 
our objective of becoming a significant gold company in the region and 
targeting early producer status." 
Commenting on his new appointment, Mr. Spence said, "I am delighted to be 
joining Compass Gold at a very exciting time in the company's life cycle. I 
view my appointment as an outstanding opportunity to join an experienced and 
well-respected team, focused on exploration success in one of the most 
prospective and developing, truly world-class gold provinces. 
"In particular I am looking forward to working closely with highly regarded 
Madani Diallo and Larry Phillips, both deservedly well regarded in the markets 
for their previous exploration track records, credited with the discovery of 
several million ounces in the region. 
"With such a modest current market capitalization, I view any exploration 
success as having potential to provide the catalyst for significant share 
price growth." 
Grant of Options 
As part of his remuneration, the Compass has granted Mr. Spence 4,000,000 
incentive stock options to purchase up to 4.000.000 common shares in the 
company at a price of $0.07 per common share until December 3, 2017, subject 
to certain vesting criteria tied to the performance of the company. 
Mr. Spence's appointment and grant of options remains subject to the 
acceptance of the TSX Venture Exchange 
About Compass Gold 
Compass Gold Corporation, a Tier 2 mining issuer listed on the TSX Venture 
Exchange, is focused on gold exploration in Mali, Africa's third largest 
producer of gold. Compass, through its wholly owned subsidiary, Africa Mining 
SARL, owns a 100% interest in four gold exploration permits (Yanfolila, 
Dandoko, Kolondieba, and Solabougouda) in southern Mali, as well as holding 
applications over a further four areas, Mousala, Sirakourou, Yanfolila East, 
and Kolondieba Nord) covering an aggregate of 1,138 sq kms in key 
gold-producing regions in southwest Mali, West Africa. Further information is 
available at 
Forward-Looking Information 
This news release may include "forward-looking statements" including 
forecasts, estimates, expectations, and objectives for future operations that 
are subject to a number of assumptions, risks, and uncertainties, many of 
which are beyond the control of Compass Gold Corporation. Such forward-looking 
information represents management's best judgment based on information 
currently available. No forward-looking statement can be guaranteed and actual 
future results may vary materially. Risks and uncertainties about Compass 
Gold's business are more fully discussed in the company's disclosure 
materials, including its MD&A, filed with the securities regulatory 
authorities in Canada and available at and readers are urged to 
read these materials. Compass Gold does not assume the obligation to update 
any forward-looking statement, except as required by applicable law. 
"James Henderson" 
James Henderson, President 
James Henderson Chairman Compass Gold Corporation +61 (288233100  
Investor and Media Relations Richard W. Wertheim Wertheim + Company Inc. +1 (416) 594-1600 +1 (416) 518-8479 (cell) 
SOURCE: Compass Gold Corporation 
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-0- Dec/04/2012 13:00 GMT
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