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Ironwood Gold Commences Detailed Drill Program at Cobalt Canyon Property


August 16, 2010

SCOTTSDALE, AZ--(Marketwire - 08/16/10) - Ironwood Gold Corp. (OTC.BB:IROG) (the "Company") is pleased to announce that exploratory drilling at the Cobalt Canyon gold property in Nevada has commenced.

Beginning today, the firm of Quesnel Brothers Diamond Drilling Ltd. has initiated efforts to drill a total of 1200 meters on the Cobalt Canyon property located in the Chief Mining District of Lincoln County, Nevada. The drill program consists of six initial drill holes at a number of previously identified, and in some instances historically productive locations known as the Gold Chief, Soa, Contact, Old Democrat, Advance and Gold Stake Mines all located within the property boundaries.

Dr. Howard Lahti, Company V.P. of Exploration, stated, "We are very excited about the core drilling program that has started on Ironwood's Cobalt Canyon gold-silver property near Caliente, Nevada. It is anticipated that the steeply dipping mineralized structures will give excellent results at depth. Four key gold-silver targets will be tested by the preliminary drilling of six 200 meter holes. In order not to delay the drill results, core samples will be brought to the assay laboratory in a timely manner. This initial drill program is anticipated to last approximately 20-25 days after which the drill results will be evaluated to see if additional detailed drilling is warranted."

The Company has already developed considerable property data including an independently authored 2009 N.I. 43-101 compliant report which offers the opinion that Cobalt Canyon appears to have potential for 1.5 million ounces of gold -- and possibly considerably more. The ultimate goal of the program is aimed at validating the Cobalt Canyon project's ability to support the establishment of a viable commercial mining operation by accurately assessing gold/silver tonnages and grades across the claims.

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. (OTC.BB: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.

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.
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Behzad Shayanfar, CEO