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TORONTO, ONTARIO--(Marketwire - May 31, 2010) - Corona Gold Corporation ("Corona") (TSX:CRG) is pleased to announce that, further to its press release of March 5, 2010, it has entered into a formal option agreement (the "Option Agreement") with Harte Gold Corp. ("Harte") (TSXV:HRT) pursuant to which Corona has granted to Harte an option (the "Option") to acquire Corona's 51% joint venture interest in the "Sugar Zone Property" located in the Dayohessarah Lake area, Ontario. Harte currently holds the remaining 49% joint venture interest in the Sugar Zone Property.

Under the terms of the original letter agreement between Corona and Harte, Harte made an initial cash payment to Corona of Cdn$10,000 and issued to Corona 7,180,000 Harte common shares. Pursuant to the Option Agreement, Harte has made a further cash payment to Corona of Cdn$2,000,000 and has issued an additional 4,331,638 common shares. As a result of such issuance, Corona now holds an aggregate of 11,511,638 shares of Harte which represent 9.9% of the outstanding shares.

Harte can exercise the Option in full and thereby acquire Corona's 51% joint venture interest in the Property by making the following additional payments to Corona:

1. Cdn$90,000 in cash on or before each sixth month anniversary of the Option Agreement until payment of one of the amounts specified in paragraph (b) below; and

2. Cdn$2,500,000 in cash on or before the second anniversary of the Option Agreement or, failing such payment, Cdn$3,000,000 in cash on or before the third anniversary of the Option Agreement.

Harte is currently acting as the operator of the Sugar Zone property. The Option will be terminated and operatorship will revert to Corona if Harte fails to make any of the additional cash payments described above.

Murray John, President of Corona, commented that "we are pleased to have finalized the option agreement with Harte. The agreement provides for significant payments to Corona and allows exploration of the Sugar Zone to be accelerated with no further dilution to Corona shareholders. The decision to option Corona's interest in the property is consistent with management's stated objective of maximizing the value of its existing properties and exploring new resource-based exploration and investment initiatives."

Forward-Looking Information:

This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that Corona believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to Corona's anticipated receipt of additional cash pursuant to the Option Agreement and the further exploration of the Sugar Zone property) constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of Corona based on information currently available to it. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results to differ materially from those discussed in the forward-looking information, including, without limitation, that Harte may not make the additional option payments under the Option Agreement or materially advance the Sugar Zone property .

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Corona disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Corona believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.