COD Coastal Gold Corp

COASTAL GOLD CORP. (TSX VENTURE:COD)(FRANKFURT:CY41) ("Coastal Gold" or the
"Company") shareholders approved all matters put forth at the annual and special
meeting of shareholders of Coastal Gold held on June 16, 2014, including the
proposed shares for debt settlement whereby Coastal Gold has issued 34,628,659
common shares at a deemed price per share of $0.05 in settlement of liabilities
of $1,731,432.97 on account of term loans, consulting fees and service fees owed
to certain arm's length and non-arm's-length parties (for additional details
regarding the shares for debt settlement see the news release dated May 5, 2014
and the management information circular relating to the meeting). 97% of the
shares voted by disinterested shareholders at the Meeting were voted in favour
of the shares for debt settlement. In addition, Messrs. David Gower, William
Pearson, Brian Penney, Justin Reid and Adrian Bray were re-elected as directors
of Coastal Gold.


Coastal Gold wishes to thank its shareholders for their continued support. 

All common shares issued pursuant to the shares for debt settlement are subject
to a hold period of four months and one day expiring on October 24, 2014.


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. This mineral resource includes a high grade underground resource of
2,284,000 tonnes grading 4.43 g Au/t containing 326,000 ounces gold in the
indicated category and 769,000 tonnes grading 4.23 g Au/t containing 105,000
ounces gold in the inferred category. The potential open pittable high grade
mineral resource is 8,682,000 tonnes grading 2.69 g Au/t containing 751,000
ounces gold in the indicated category with minor inferred 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. For additional details regarding the mineral
resources, 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 PERSON

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. 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.
65 Queen Street West, Suite 815
Toronto, Ontario, Canada
M5H 2M5


Rob Hopkins, Manager, Investor Relations
Tel: 416-861-5899
Email: info@coastalgold.ca
Web: www.coastalgold.ca


Bill Pearson, President & CEO
Tel: 416-861-2968
Email: president@coastalgold.ca
Web: www.coastalgold.ca

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