CWM Crown Mining Corp

Crown Gold Corporation ("Crown") (TSX VENTURE:CWM) is pleased to announce that
it has successfully completed today its previously announced $1,500,000 brokered
private placement (the "Private Placement") with MGI Securities Inc ("MGI") and
Pope & Company ("Pope") (see Crown's news release dated October 4, 2010). An
aggregate of 15,000,000 units ("Units") were sold at $0.10 per Unit for gross
proceeds of $1,500,000. Each Unit is comprised of one common share of the
Corporation (a "Common Share") and one Common Share purchase warrant. Each whole
warrant (a "Warrant") entitles the holder to purchase one Common Share, at any
time within 15 months after the Warrant issue date, at a price of $0.18.


MGI and Pope received cash commissions equal to 10% of the gross proceeds of the
Private Placement and non transferable compensation options (the "Agent's
Compensation Options") equal to 10% of the Units sold under the Private
Placement. Each Agent's Compensation Option entitles the holder to purchase, at
any time for a period of 15 months following the issue date, one Unit at a price
of $0.10.


The proceeds from the Private Placement will be used to continue exploration
programs at Crown's property on McKenzie Island in Red Lake, Ontario and at
Crown's Monte Cristo property in Nevada, as well as for general working capital
purposes.


All the securities issued pursuant to this Private Placement are subject to a
four (4) month hold period expiring March 1, 2011.


About GMI Securities and Pope and Company

MGI Securities Inc. is an integrated Canadian investment dealer offering
professional wealth management solutions for individual investors, a
comprehensive range of specialized services for institutional investors, and
corporate finance advisory services for issuers, including mergers and
acquisitions, equity underwritings, corporate restructuring, structured
financings, market research, and business valuation services. MGI is based in
Toronto, with additional offices in Winnipeg, Saskatoon, Calgary and London,
Ontario. MGI is a member of IIROC and is a subsidiary of Jovian Capital
Corporation (TSX:JOV). MGI has approximately $1.3 billion in client assets under
administration.


Pope & Company Limited is a full service investment dealer established in 1962.
Pope is a member of the Toronto Stock Exchange, Investment Industry Regulatory
Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF).
Pope is an active financier of exploration and production companies in the
mining and energy sectors, serving clients throughout the world.


This press release contains forward-looking statements within the meaning of
applicable Canadian and U.S. securities regulation, including statements
regarding the future activities of Crown. Forward-looking statements reflect the
current beliefs and expectations of management and are identified by the use of
words including "will", "anticipates", "expects", "expected to", "plans",
"planned" and other similar words. Actual results may differ significantly. The
achievement of the results expressed in forward-looking statements is subject to
a number of risks, including those described in Crown's management discussion
and analysis as filed with the Canadian securities regulatory authorities which
are available at www.sedar.com. Investors are cautioned not to place undue
reliance upon forward-looking statements.

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