Caza Gold Begins Phase 1 Drill Program at the Balleza Gold Project, Moris Property Chihuahua, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 31, 2011) - Greg Myers, CEO and President of Caza Gold Corp. (TSX VENTURE:CZY)(FRANKFURT:CZ6), is pleased to announce that the Phase 1 drill program is now underway at the Balleza gold project on the Moris property in Chihuahua, Mexico.

Approximately 4,000 meters of core drilling will be completed to test the core of the 1200 meter long, up to 400 meter wide, bulk tonnage Balleza gold target. The target is a silicified and potassically altered zone along the contact of the host andesite tuffs and a large dacite dike related to a 7 km long regional mineralized structure.

See map at: http://cazagold.com/_resources/5-10-11_nr_balleza_au-k.pdf

Surface sampling has identified two types of gold mineralization at Balleza, a higher grade quartz stock-work zone and lower grade disseminated mineralization. The gold bearing quartz stock-works have returned assays in grab samples up to 36 grams per tonne gold (gpt). More than 550 rock chip samples have been collected in the Balleza target area, of which 237 samples exceed 0.3 gpt gold and average 1.27 gpt gold.

The Balleza project is part of Caza's Moris property (16,209 hectares) located 10 km west of Gammon Gold's Ocampo mine. The property is about 230 km northwest of Chihuahua City in Chihuahua State, Mexico. Access is by paved and all-weather gravel roads. Infrastructure is very good with state power lines crossing the properties and labor, supplies and services all available in the nearby towns of Moris, Ocampo and Cuauhtemoc.

Greg Myers, Ph.D. P. Geo is the Qualified Person who reviewed and approved the contents of this news release. All samples were prepared at the inspectorate prep facility in Durango and analyzed at their Reno, Nevada analytical labs.

CAZA GOLD CORP.

Greg Myers , President and CEO

About Caza Gold Corp. – Caza Gold is a junior resource company focused on the acquisition and exploration of strategic gold properties in Mexico and Latin America. In 2011, the company plans to drill the prospective Santiago and Moris properties in Mexico and explore its large portfolio of high sulfidation, epithermal gold properties in Nicaragua.

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Certain statements contained herein constitute "forward-looking statements" within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian securities agencies. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable law. We seek safe harbour.