Ironwood Gold and the Falcon Property News

Ironwood Gold to Proceed With 18-Hole, 6000m Drill  Program at Falcon Property, Carlin Trend, Nevada

SCOTTSDALE, AZ — (Marketwire) — 02/21/12 — Ironwood Gold Corp. (OTCBB:  IROG) (“Ironwood” or the “Company”) wishes to advise of plans to proceed with an  18-hole, 6000 meter drilling program after receiving a favorable assessment from  Snowden Mining Industry Consultants Inc. (“Snowden”). The Company is pleased to  announce that Snowden successfully completed its 2011 fieldwork and geophysical  surveys enabling the completion and delivery of an in-depth Preliminary  Assessment on the company’s Falcon Mine gold prospect.

Based on the results from surface mapping, sampling and a geophysical  program, Snowden has identified a number of significant mineralization targets  that are recommended as warranting a follow up exploration drilling program.  Snowden strongly recommends that the proposed models be tested with a next phase  of exploration drilling. The exploration work completed to-date suggests that  the Falcon mine property has potential to host three types of economic  mineralization. These are:

1. Shallow volcanic hosted, low sulphidation, low grade mineralization (open  pit).

2. Deeper, volcanic hosted, Midas-type, low sulphidation high grade  mineralization (underground).

3. Deeper, sediment hosted, Meikle-type high grade mineralization  (underground).

Murray Lytle, P.Eng Divisional Manager of Snowden Mining Industry  Consultants, stated, “Snowden commenced the Falcon mine exploration project to  find indicators for Carlin-type mineralization. The geophysical and sampling  efforts undertaken have resulted in very strong, coincident anomalies  (geophysics, soil analysis and rock chip sampling), which support models for  three different mineralization styles including potential for sediment-hosted  gold mineralization. The highly anomalous soil sampling grades were particularly  encouraging. Snowden has identified 18 drill-hole targets and strongly recommend  a next phase of exploration to test the subsurface mineralization of the  coincident anomalies and is optimistic about the potential for exploration  success.”

Ironwood is in the process of appointing a drilling contractor in conjunction  with Snowden as consultants. We plan to commence drilling once favorable weather  conditions persist.

Ironwood’s CEO, Bezhad Shayanfar, states, “We are delighted with the results  from our efforts on the ground. Furthermore we are actively engaging a number of  resource-focused potential investors with the view to fund both the current  exploration program at the Falcon Mine and potential future acquisitions.”

The Falcon Mine property is located in an area bordered by claims held by  major global mining operators at the northern end of the Carlin Trend gold belt,  the most prolific gold producing area in the USA and the 2nd most productive  gold region in the world. A copy of the report and a detailed description of the  property is available here: http://www.ironwoodgold.com/projects/redwood.aspx.

Additional details regarding the Company and its agreements are filed as part  of the Company’s continuous public disclosure as a reporting issuer under the  Securities Exchange Act of 1934 filed with the Securities and Exchange  Commission’s (“SEC”) EDGAR database. For more information visit:  www.ironwoodgold.com.

ABOUT IRONWOOD GOLD CORP. (OTCBB: IROG)

Ironwood Gold Corp. is a mineral exploration and development company building  a portfolio of prospective properties containing known deposits of strategic  precious metals in politically stable, mining-friendly North American districts  with recognized production histories. For more information visit:  www.ironwoodgold.com.

Notice Regarding Forward-Looking Statements

This news release contains “forward-looking statements” as that term is  defined in Section 27A of the United States Securities Act of 1933, as amended  and Section 21E of the Securities Exchange Act of 1934, as amended. Statements  in this press release which are not purely historical are forward-looking  statements and include any statements regarding beliefs, plans, expectations or  intentions regarding the future. Such forward-looking statements include, among  other things, the development, costs and results of new business opportunities.  Actual results could differ from those projected in any forward-looking  statements due to numerous factors. Such factors include, among others, the  inherent uncertainties associated with new projects and development stage  companies. These forward-looking statements are made as of the date of this news  release, and we assume no obligation to update the forward-looking statements,  or to update the reasons why actual results could differ from those projected in  the forward-looking statements. Although we believe that any beliefs, plans,  expectations and intentions contained in this press release are reasonable,  there can be no assurance that any such beliefs, plans, expectations or  intentions will prove to be accurate. Investors should consult all of the  information set forth herein and should also refer to the risk factors  disclosure outlined in our annual report on Form 10-K for the most recent fiscal  year, our quarterly reports on Form 10-Q and other periodic reports filed from  time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD

Ironwood Gold Corp.

—————————–

Behzad Shayanfar, CEO

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Investor Information: Red Oak Communications, Inc. Phone:  1-888-356-4942 Email: info@ironwoodgold.com Web: www.ironwoodgold.com

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