Gryphon Gold Appoints James T. O'Neil Jr. as CFO

January 3, 2012 - Gryphon Gold Corporation (TSX: GGN) (OTCBB: GYPH) is pleased to announce that James T. O’Neil Jr. has been appointed Chief Financial Officer of Gryphon Gold Corporation. Mr. O’Neil previously served as the Chief Financial Officer & Chief Operations Officer of Jipangu International from 2006 to present. From 2004 to 2006 Mr. O’Neil served as Vice President-Finance, Controller and Treasurer for Apollo Gold Corporation.

Mr. O’Neil’s career began with Asarco Incorporated in 1973. He advanced from Controller of the Ray Complex in 1986 to American Mining Company and Asarco Incorporated Vice President-Finance and Administration for the period 2001-2004.

Mr. O’Neil received a Bachelor of Science from Arizona State University and a Master of Business Administration from Arizona State University.

"Jim O’Neil brings the experience and knowledge to meet the needs of a growing mining company and will provide the required guidance as Gryphon transitions from explorer to producer. We have set a very aggressive production plan based on a Pre-Feasibility that provided a 118% IRR at $1200 per ounce of gold and Jim’s background makes him the perfect fit at this point in Gryphon’s life. I look forward to working with Jim as we grow Gryphon and increase shareholder value in this rewarding precious metals market” said John Key, Gryphon Gold’s CEO.

The Board thanks Mr. Ted Sharp of Sharp Executives for assisting Gryphon during its transition to production and cash flow.

For further information please contact:

John L. Key, CEO and President
1-775-883-1456 [email protected]

Lisanna Lewis, Vice President, Treasurer, Investor Relations
1-604-261-2229 [email protected]