CB Gold Inc.

CB Gold Inc.

May 13, 2013 07:15 ET

CB Gold Inc. Intercepts 1.08m at 18.37g/t Au and 1.00m at 12.55 g/t Au at the Vetas Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2013) - CB Gold Inc. (TSX VENTURE:CBJ) ("CB Gold" or the "Company") is pleased to provide summary drilling results from its Vetas Gold Project, District of Santander, Colombia ("Vetas Gold Project"), located 10 km south of AUX's La Bodega and La Mascota deposits. Results from 4 holes include 4 separate intercepts of 5 g/t AuEq or greater.

Real Minera Sheeted Vein Zone Drilling

The company has received gold assays from holes 145 and 152, drilled from Platform 22, which was located 180 metres north of Platform 20. The latest holes have intercepted wider zones of mineralization in the sheeted vein structures, including 16.28m at 1.59g/t Au and 11.46m at 0.60 g/t Au and 12.48 g/t Ag (RM-DDH13-145). These results are consistent with wide zones of mineralization intersected in the upper sheeted vein system in other drill holes from Platform 22. Wide zones of gold mineralization in drill holes from Platforms 17 and 21 occur in a similar position as those from Platform 22. The high grade gold and silver mineralization at 248.70m in hole RM-DDH13-145 correlates with other narrow, high grade intersections at depth in surrounding holes which also returned high-grade silver. The high grade intersection in hole RM- DDH13-152 is interpreted to be the upper sheeted vein complex.

Real Minera:
HoleID From (m) To (m) Length (m) Au (g/t) Ag (g/t) AuEq (g/t)
RM-DDH13-145 87.56 91.10 3.54 0.42 na 0.42
and 96.30 98.09 1.79 2.09 na 2.09
and 119.18 129.05 9.87 0.37 na 0.37
including 128.01 129.05 1.04 1.81 na 1.81
and 141.40 157.68 16.28 1.59 na 1.59
including 156.60 157.68 1.08 18.37 na 18.37
and 205.30 210.70 5.40 0.64 na 0.64
and 218.50 221.95 3.45 0.88 na 0.88
and 232.95 237.65 4.70 0.48 na 0.48
and 245.80 257.26 11.46 0.60 12.48 0.82
including 248.70 249.70 1.00 4.88 134.00 7.23
RM-DDH13-152 83.47 86.31 2.84 2.10 na 2.10
including 85.34 86.31 0.97 4.42 na 4.42
and 143.90 149.00 5.10 4.71 na 4.71
including 143.90 144.90 1.00 7.99 na 7.99
and including 144.90 145.90 1.00 12.55 na 12.55

All Intervals are reported as drilled thicknesses and are believed to be between 70-100% of the true widths of the mineralization. AuEq in this table and the subsequent tables was calculated using the 12 month trailing average for Au and Ag through March 1, 2011 (US$1268/oz Au and US$22.28/oz Ag). Using ratio of US$Au:US$Ag (56.9), assuming 100% recovery of both metals and no NSR the AuEq formula is: AuEq = Au g/t + (Ag g/t / 56.9).

El Dorado-Santa Isabel Vein System Drill Results

Results from holes 118 and 127 from the Santa Isabel property confirm the continuity of the structures predicted by the existing 3D model developed in conjunction with SRK Consulting. The two reported drill holes are from an area interpreted to be the juncture of the El Dorado and San Bartolo structures.

The El Dorado vein system has now been drill defined over 1,000 metres and has the potential to extend a further 700 metres to the southwest and 300 metres to the northwest. The company is planning to drill test the potential of parallel vein systems to the west of the El Dorado vein system, projected to be the extension of high-grade systems currently under production on adjacent properties to the north.

Santa Isabel:
HoleID From (m) To (m) Length (m) Au (g/t) Ag (g/t) AuEq (g/t)
SI-DDH12-118 208.78 214.88 6.10 0.43 na 0.43
and 236.76 247.75 10.99 0.87 24.17 1.29
including 242.40 244.30 1.90 1.95 104.00 3.77
SI-DDH12-127 84.40 90.72 6.32 1.35 na 1.35
including 86.72 87.78 1.06 2.40 na 2.40

Results from holes ED-DDH13-144, ED-DDH13-146 and ED-DDH13-150 did not return significant intercepts. Further details of the drillholes mentioned in the news release can be found at www.cbgoldinc.com.

2013 Exploration Program Update

CB Gold is planning a program of rock saw surface trenching at Real Minera. The data will be used to add surface data to the drill hole data for the upcoming resource calculation. All surface trenching will be done with full QA/QC protocols. The company is also currently undertaking a detailed surface structural and alteration mapping program at Real Minera to aid SRK Consulting's modelling.

Vetas Gold Project - Geochemistry:

All the samples taken by CB Gold at its Vetas Gold Project were prepared by ACME Labs Medellin, Colombia and analyzed by ACME Labs in Vancouver, Canada and Santiago, Chile. The Company has a standard QA/QC program, which includes regular insertion of blank material, certified reference material and duplicate samples. All reported gold values were determined from coarse and fine (+/- 200 mesh) metallic screen fractions of a 1 kg sample, using 50 g fire assay charges from each fraction, followed by an AA finish, or gravimetric finish for samples grading higher than 10 g/t Au. Silver grades were determined by dissolution of a 30 g sample in aqua regia with an ICP-MS finish. The QA/QC program has been reviewed by various independent consultants experienced in QA/QC work.

The scientific and technical information on which this news release has been based was reviewed and approved by Marius Maré, Vice President Exploration and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About CB Gold Inc.:

CB Gold is a mineral exploration company headquartered in Vancouver, British Columbia. CB Gold, through its wholly-owned subsidiary, Leyhat Colombia Sucursal, is actively pursuing the exploration and development of mineral properties in the Republic of Colombia. The Vetas Gold Project consists of a number of existing mines (operations currently suspended) and exploration concessions, and its exploration and development activities are not affected by the proposed Regional Natural Park Paramo de Santurban.

For more information on CB Gold please visit our website at www.cbgoldinc.com.

The securities of CB Gold described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Neither the 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 news release.

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