CBR Gold Corp.

CBR Gold Corp.

March 18, 2010 08:30 ET

CBR Gold Corp.: Three Bluffs 2010 Exploration Program Commences

4 Drill Rigs Mobilized

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2010) - CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M) ("CBG" or the "Company") today announces the mobilization of 4 drill rigs for its aggressive 2010 exploration program at the Three Bluffs high grade gold deposit in the Committee Bay Greenstone Belt, located northeast of Baker Lake, Nunavut, Canada.

"The 2010 drill program marks the initiation of our focused strategy to rapidly advance the Three Bluffs Project," stated John Williamson, President and CEO of CBR Gold Corp. "This year will mark the most aggressive exploration project ever conducted within this project area. The recently announced spin-out transaction will allow us to focus on our Canadian gold assets through North Country Gold Corp while preserving the capital structure in Niblack Mineral Developments Inc. Furthermore the recent commencement of commercial production at Meadowbank demonstrates the viability of projects in Nunavut."

The North Country Gold Corp spin out, subject to shareholder approval, will be advancing the Three Bluffs Deposit. Three Bluffs hosts a NI 43-101 compliant resource of 2.7Mt at 5.85g/t gold for 508,000 oz gold (indicated) and 1.27Mt at 5.98g/t gold for 244,000oz gold (inferred). This high grade deposit remains open to depth and along strike.

North Country has completed a seasonal airstrip and has commenced mobilization of equipment including four diamond drill rigs by Hercules aircraft. The primary objective for 2010 is a 20,000 metre drill program designed to expand the existing Three Bluffs resource and identify satellite targets within a 20 kilometer radius of the present resource. The deposit is located along a 5km segment of the Walker Lake Trend which contains numerous iron formation horizons totaling in excess of 30 km of prospective stratigraphy. To date only 1 km representing less than 5% of the gold bearing stratigraphy has been drill tested.

North Country Gold Corp controls one of the largest under explored greenstone belts within Canada, and has numerous drill ready high grade gold targets, in addition to those at Three Bluffs. The gold-rich Committee Bay Greenstone Belt is located approximately 300 kilometres north of Baker Lake within Nunavut Territory, Canada. CBR Gold Corp is currently the 100% beneficial owner of the mineral rights to approximately 557,323 acres (225,569 hectares) of land comprising 216 active mineral claims and 14 mineral leases. 

Nunavut is geologically well-endowed with multiple gold bearing greenstone belts host to several world class, advanced exploration, development and production projects. Including Agnico-Eagle Mines Limited's Meadowbank project located approximately 70 kilometres south of the Committee Bay Greenstone Belt.

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

On behalf of the Board

CBR Gold Corp.

John Williamson, President, CEO & Director

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.

"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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