Caza Gold Defines Large Initial Drill Target at the Pedregal Gold Zone on the Los Andes Property, Nicaragua

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 21, 2012) - Greg Myers, CEO and President of Caza Gold Corp. (TSX VENTURE:CZY)(PINKSHEETS:CZGDF)(FRANKFURT:CZ6) announces that Caza has defined a large initial drill target at the Pedregal high sulfidation epithermal gold zone on the Los Andes project in Nicaragua.

Detailed geological mapping and rock chip sampling (approximately 850 samples in the Pedregal area) have defined a strong silver anomaly in a silicified breccia along a cliff face, which is exposed for approximately 150 meters (m) long, disappearing under cover. High silver values, up to 196.9 grams per tonne (gpt) in rock chip samples, are associated with advanced argillic, argillic, and strongly silicified alteration zones in a breccia, typical of several high sulfidation epithermal gold deposits.

Pedregal is located at the margin of a large volcanic caldera, one of a series of volcanic calderas and high sulfidation epithermal alteration zones lying along a regional 1^st order northwest-trending fault zone that defines the Central Gold Belt in Nicaragua. The highest silver values occur in the silicified breccia zone near north trending faults which cut the northwest trending fault zones. The mineralized breccia is beneath an extensive, weakly mineralized argillic alteration cap which is more than 4 kilometers (km) long and at least 3 km wide, with an advanced argillic alteration zone which is at least 2.5 km long and 1 km wide. Smaller areas with higher temperature natroalunite are focused around north to northwest trending radial faults. Strongly anomalous arsenic, antimony, bismuth, and tellurium occur in the argillic cap and silicified breccias in the Pedregal area along with anomalous silver and gold. The alteration and metal concentrations possibly indicate leakage from mineralization deeper in the hydrothermal system.

(Please visit the following link to see map: http://cazagold.com/_resources/3-21-2012_Pedregal_fig.pdf)

Broad scale alteration and trace metal anomalies at Pedregal are zoned around 2^nd order northeast- and north-trending cross-faults. The Pedregal, San Francisco and Quisaltepe drill targets are each located along a northeast-trending fault zone where it is cut by the northwest-trending faults (see map link). This mineralized fault zone is at least 17 km long and mapping continues to expand the system.

More than 40 strongly silicified breccia bodies with advanced argillic and argillic alteration and trace metal anomalies occur within this regional northeast-trending structural zone and host anomalous gold and silver values and highly elevated values of trace metals, which are associated with the precious metals such as arsenic, bismuth, and tellurium.

A drill contractor has been selected and the Phase 1 drill program is scheduled to commence in the next few weeks beinning at Pedregal, targeting the silicified and sulfide bearing breccia. Four to six drill holes each 200 m to 400 m deep will angle across the structures towards the south. The Phase 1 drilling program is planned to complete approximately 5000 m in total at the Pedregal and Quisaltepe targets.

The Pedregal Zone is one small part of the overall epithermal gold system mapped at Los Andes. The Company continues to map and sample the Los Andes Property and has thus far identified 10 gold targets along a 12 km long portion of the fault zone.

Soil and rock chip sampling also continues to try and define the limits of the new San Francisco drill target on the San Francisco Property located 5 km south of the Los Andes Project on the same northeast-trending structural zone which hosts the Quisaltepe and Pedregal targets. Currently the San Francisco gold soil anomaly measures at least 750 m by 750 m and is open in all directions.

Greg Myers, Ph.D., P. Geo, CEO of the Company, is the Qualified Person who reviewed and approved the contents of this property update.

Caza Gold Corp. is a growth-oriented gold exploration company listed on the TSX-V: CZY, FSE: CZ6, and OTC Pink Sheet: CZGDF. The Company is focused on the acquisition and exploration of strategic gold properties in Mexico and Latin America.

CAZA GOLD CORP.

Greg Myers, President and CEO

For more information, please visit our website, www.cazagold.com.

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Certain statements contained herein constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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 and United States 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.