CBR Gold Corp.
TSX VENTURE : CBG
FRANKFURT : C3M

CBR Gold Corp.

March 19, 2010 08:30 ET

CBR Gold Corp.: Niblack Drilling Continues to Expand New Discovery of High-Grade, Precious Metals-Rich Mineralization at Niblack

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2010) - CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M) ("CBG" or the "Company") and joint venture partner Heatherdale Resources Ltd. (TSX VENTURE:HTR) ("Heatherdale") announce that intersections of high-grade copper-gold-silver-zinc mineralization continue to be encountered in underground drilling at the Niblack Project in southeast Alaska. The ongoing drill program is utilizing two rigs which are presently focused on delineating the new, precious-metals enriched massive sulphide discovery located southwest of the Lookout Deposit; one of six known volcanogenic massive sulphide ("VMS") deposits within the 10 square mile Niblack property.

The two discovery holes (U027 and 28) drilled by CBR Gold Corp. along with the first six delineation holes (U029, 30, 31, 32, 33A and 34) were tabulated and presented in CBG's January 18th news release. New intersections from the next four holes (U035, 36, 37A and 38) are presented in the Niblack Assay Table below. . A Plan Map and Cross Sections showing the location of all the drill holes are available at www.cbrgoldcorp.com.



NIBLACK ASSAY TABLE

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Drill
Hole From To Intercept
Number (feet) (feet) (feet) Cu % Au g/t Zn % Ag g/t
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U035 982.0 986.8 4.8 2.37 3.79 1.54 78
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U035 1010.0 1061.5 51.5 1.88 2.52 1.56 51
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U035 incl. 1010.0 1015.2 5.2 2.14 3.45 0.60 59
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U035 incl. 1018.3 1032.3 14.0 2.49 3.13 1.52 59
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U035 incl. 1050.0 1061.5 11.5 2.24 3.27 2.78 67
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U035 1089.6 1095.0 5.4 1.99 3.16 1.52 43
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U035 1189.0 1225.5 36.5 1.24 3.53 3.18 43
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U036 1174.0 1178.0 4.0 1.25 1.12 4.21 27
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U036 1363.1 1372.0 8.9 1.11 1.92 1.02 28
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U037A 1021.5 1026.5 5.0 1.17 1.98 3.47 41
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U037A 1032.4 1053.3 20.9 1.19 2.10 2.05 39
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U037A incl. 1045.8 1053.3 7.5 2.16 4.00 4.05 69
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U037A 1114.5 1163.8 49.3 1.23 1.53 1.06 22
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U037A incl. 1155.0 1163.8 8.8 2.14 2.43 1.20 32
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U038 1237.4 1261.0 23.6 0.50 0.90 0.48 12
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Holes are being drilled in fan patterns from underground drill stations and are designed to cross-cut the high grade mineralization. To date, the true widths of the intersections have not yet been accurately established.

The Joint Venture has now initiated a second and third series of underground fan drill holes at drill stations number two and three located along strike at 100 foot intervals.

"Intersections from fan drilling the first, second and third underground drill stations each located 100 feet apart have certainly demonstrated a continuity of high-grade, precious-metals enriched VMS mineralization southwest of the Lookout Deposit," said John Williamson, President and CEO of CBR Gold Corp.. "What is perhaps more exciting is that we haven't yet determined the outer dimensions of this thick high-grade copper-gold-silver-zinc mineralized body. It is still wide open."

Niblack's location at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners. The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8000 people with important services to support project development, including a deep water port and international airport. The State's burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources' 'Large Mine Permitting Team'. For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of CBR GOLD Corp. and has reviewed the content of this release.

CBR Gold Corp. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com. Heatherdale Resources Ltd. will earn up to a 70% interest from CBR Gold Corp. by expending US$25 million and completing a Positive Bankable Feasibility Study on the Niblack Project. Heatherdale is affiliated with the Hunter Dickinson group, a private company associated with successful mineral exploration and development projects around the world.

On behalf of the Board

CBR Gold Corp.

John Williamson, President, CEO & Director

Sample preparation and analysis is done at ISO 9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g fire assay fusion with Inductively Coupled Plasma - Atomic Emission spectroscopy (ICP-AES) finish. Copper, silver, zinc, lead and 29 additional elements are determined for all samples by four acid digestion, followed by ICP-AES finish. All over-limit copper, zinc or lead results (greater than 10%) and all over-limit silver results (greater than 200 grams per tonne) are re-assayed by high grade single element four acid digestion ICP-AES analysis. As part of a comprehensive QA/QC program, one standard is inserted into the sample stream in each group of 20 samples, as well as one or more field blanks in each analytical batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme Analytical Laboratories in Vancouver.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.



NIBLACK ASSAY TABLE

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Drill
Hole From To Intercept
Number (feet) (feet) (feet) Cu % Au g/t Zn % Ag g/t
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U027 629.2 644.0 14.8 3.06 6.57 18.51 101
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U028 460.8 488.3 27.5 4.11 20.03 14.03 301
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U028 and 590.6 627.6 37.0 3.73 5.47 13.00 114
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U028 incl. 618.7 627.6 8.9 5.73 10.60 12.98 177
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U028 and 688.8 694.2 5.4 4.77 2.36 11.95 50
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U029 763.7 825.1 61.4 1.40 2.40 2.81 48
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U029 incl. 790.4 799.4 9.0 2.79 4.81 1.10 85
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U029 incl. 815.7 825.1 9.4 2.63 4.92 9.80 108
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U030 835.1 867.8 32.7 1.83 3.39 2.56 57
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U030 incl. 856.0 867.8 11.8 1.96 4.34 3.38 70
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U031 762.0 905.9 143.9 2.25 3.01 5.52 76
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U031 incl. 809.4 905.9 96.5 2.65 3.38 7.28 90
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U031 incl. 838.0 905.9 67.9 3.21 3.86 8.66 112
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U031 incl. 847.0 895.5 48.5 3.51 4.01 10.08 109
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U031 incl. 866.8 895.5 28.7 4.19 5.18 13.85 133
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U032 848.0 858.7 10.7 1.51 2.16 2.53 52
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U032 and 883.0 896.0 13.0 1.92 3.34 1.21 60
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U033A 768.5 950.0 181.5 2.52 4.53 4.68 105
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U033A incl. 832.5 935.8 103.3 3.29 5.43 6.76 127
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U033A incl. 881.0 932.5 51.5 3.93 7.11 10.09 159
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U033A incl. 889.6 910.0 20.4 3.96 8.98 14.95 221
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U034 754.8 759.4 4.6 1.15 1.99 4.42 32
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U034 and 875.5 933.5 58.0 1.09 1.78 1.48 49
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U034 incl. 885.0 898.5 13.5 1.83 2.96 3.90 85
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U034 incl. 897.5 898.5 1.0 2.00 1.19 26.20 39
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U035 982.0 986.8 4.8 2.37 3.79 1.54 78
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U035 1010.0 1061.5 51.5 1.88 2.52 1.56 51
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U035 incl. 1010.0 1015.2 5.2 2.14 3.45 0.60 59
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U035 incl. 1018.3 1032.3 14.0 2.49 3.13 1.52 59
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U035 incl. 1050.0 1061.5 11.5 2.24 3.27 2.78 67
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U035 1089.6 1095.0 5.4 1.99 3.16 1.52 43
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U035 1189.0 1225.5 36.5 1.24 3.53 3.18 43
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U036 1174.0 1178.0 4.0 1.25 1.12 4.21 27
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U036 1363.1 1372.0 8.9 1.11 1.92 1.02 28
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U037A 1021.5 1026.5 5.0 1.17 1.98 3.47 41
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U037A 1032.4 1053.3 20.9 1.19 2.10 2.05 39
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U037A incl. 1045.8 1053.3 7.5 2.16 4.00 4.05 69
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U037A 1114.5 1163.8 49.3 1.23 1.53 1.06 22
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U037A incl. 1155.0 1163.8 8.8 2.14 2.43 1.20 32
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U038 1237.4 1261.0 23.6 0.50 0.90 0.48 12
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"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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