CBR Gold Corp.

CBR Gold Corp.

July 09, 2009 16:00 ET

CBG and Hunter Dickinson Close Niblack Joint Venture Agreement

EDMONTON, ALBERTA--(Marketwire - July 9, 2009) - CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M) ("CBG") is pleased to announce that the Hunter Dickinson group ("HD") has completed its due diligence and waived the conditions precedent to form a joint venture on CBG's 100%-owned Niblack copper-gold-silver-zinc project on Prince of Wales Island in southeast Alaska (the "Niblack Project"). For details of the Niblack Joint Venture Agreement, see CBG press release dated June 15, 2009.

"We are very pleased to have closed the agreement with Hunter Dickinson, and look forward to advancing the project with our partners," said John Williamson, President and CEO of CBR Gold Corp. "Satisfactory completion of the rigorous due diligence process by HD speaks to the merits of the Niblack project."

"The Joint Venture is currently finalizing its 2009 exploration budget which will entail extensive underground drilling, targeting additional resources down-plunge of the Lookout Zone. We expect the program to be underway by August".

HUNTER DICKINSON is a private company based in Vancouver, B.C., and associated with a suite of publicly-traded companies engaged in mineral exploration, development and mine operations around the world. HD's multi-disciplinary team of 120 financial and technical specialists provides professional services to successful mine operators and developers on four continents, with interests in gold, copper, platinum group metals, zinc, molybdenum, zinc and silver. HD-managed companies have a successful track record for identifying, acquiring, developing, permitting and mining globally significant mineral deposits.

CBR GOLD CORP., is a Canadian-based exploration and development company focused on expanding; the Niblack Copper-Gold-Silver-Zinc deposit in southeast Alaska with partner Hunter Dickinson and its wholly owned high-grade Three Bluffs Gold deposit in Nunavut, Canada. CBG also has several generative to early stage projects and continues to monitor the globe for additional undervalued gold and copper projects. The company's diversified asset portfolio also includes significant holdings of marketable securities and ownership of two drilling companies in Canada and Australia.

On behalf of the Board

CBR Gold Corp.

John Williamson, P.Geol., President, CEO & Director

CBR Gold Corp. is a member of the Discovery Group of companies. For more information on the group please visit www.discoveryexp.com.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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