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 www.compassgoldcorp.com.  NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS  RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.  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 www.sedar.com 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.  COMPASS GOLD CORPORATION  "James Henderson"  James Henderson, President  James Henderson Chairman Compass Gold Corporation  Email:info@compassgoldcorp.com www.compassgoldcorp.com +61 (288233100   Investor and Media Relations Richard W. Wertheim Wertheim + Company Inc.  Email:wertheim@wertheim.ca +1 (416) 594-1600 +1 (416) 518-8479 (cell)  SOURCE: Compass Gold Corporation  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/December2012/04/c5895.html  CO: Compass Gold Corporation ST: British Columbia NI: MNG 2575 WNEWS