CB Gold Inc.
TSX VENTURE : CBJ

CB Gold Inc.

February 19, 2013 09:32 ET

CB Gold Inc. Intercepts 6.87m at 17.41 g/t Au, 6.05m at 12.45 g/t Au and 1.31m at 21.30 g/t Au at the Vetas Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 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 include 15 separate intercepts of 5 g/t Au or greater.

Real Minera Stockwork Zone Drill Results:

The Company has now received assays from holes 130, 132, 135, 141 and 143 and is pleased to report that the latest holes have intercepted wider zones of mineralization in the sheeted vein structures, including 6.87m at 17.41g/t Au (RM-DDH12-135), 6.05m at 12.45g/t Au (RM-DDH12-143) and 9.35m at 2.41 g/t Au (RM-DDH12-130). The last two intersections are the down-dip extensions of high grade mineralization tested in RM-DDH11-128 which returned a value of 8.03m at 5.43g/t Au. The most recent drilling at Real Minera has demonstrated the lateral and down-dip continuity of the high grade, uppermost sheeted vein mineralization. At least three parallel sheeted vein zones have been identified to date.

In addition, there were numerous intercepts of higher-grade narrow structures including 2.35m at 8.22g/t Au (RM-DDH12-141), 3.36m at 5.05g/t Au (RM-DDH12-143) and 1.00m at 15.90 g/t Au (RM-DDH12-132).

Real Minera:

HoleID From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
AuEq
(g/t)
RM-DDH12-130 22.86 24.30 1.44 2.29 1.80 2.32
and 53.05 54.20 1.15 4.34 2.05 4.38
and 68.67 78.02 9.35 2.41 17.60 2.72
including 71.10 72.11 1.01 5.78 3.20 5.83
and including 75.15 76.28 1.13 12.10 3.70 12.17
and 142.01 143.00 0.99 5.89 10.80 6.08
and 220.35 221.60 1.25 3.75 1.70 3.78
RM-DDH12-132 325.05 326.05 1.00 15.90 4.90 15.99
RM-DDH12-135 50.56 51.81 1.25 5.47 1.70 5.50
and 71.25 78.12 6.87 17.41 4.50 17.49
including 71.25 72.45 1.20 82.92 12.40 83.13
and including 76.88 78.12 1.24 13.52 8.90 13.68
RM-DDH12-141 33.36 34.55 1.19 2.30 1.00 2.32
and 37.04 38.10 1.06 1.01 0.30 1.01
and 96.80 99.15 2.35 8.22 13.10 8.45
and 150.35 152.10 1.75 2.58 1.90 2.61
and 251.66 252.66 1.00 1.52 1.80 1.55
and 310.80 311.80 1.00 1.69 34.70 2.30
RM-DDH12-143 100.95 107.00 6.05 12.45 3.70 12.52
including 100.95 102.10 1.15 57.99 10.70 58.18
and including 105.90 107.00 1.10 5.99 6.20 6.09
and 158.18 161.54 3.36 5.05 2.20 5.09
including 160.37 161.54 1.17 12.90 4.70 12.98
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).

Further details of the drillholes mentioned in the news release can be found at www.cbgoldinc.com.

El Dorado Vein System Drill Results:

Results from holes 116, 120, 123, 125, 129, 131, 133, 134 and 136 from the El Dorado, La Peter and Santa Isabel properties confirm the consistent nature of the structure predicted by the existing 3D model developed in conjunction with SRK Consulting, adding further confidence in the predictability of the vein system. Drilling intercepted several high-grade narrow structures including 1.31m at 21.30g/t Au (SI-DDH12-116), 2.39m at 9.25g/t Au (LP-DDH12-129) and 1.14m at 6.35g/t Au (SI-DDH12-123).

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.

Additionally, hole 125 drilled from the Santa Isabel property was located in the area close to the intersection of the El Dorado and San Bartolo veins. Drilling intercepted wider zones of thickening of alteration and mineralization including 8.88m at 1.27g/t Au and 8.7g/t Ag.

El Dorado:

HoleID From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
AuEq
(g/t)
SI-DDH12-116 24.79 26.10 1.31 21.30 22.80 21.70
and 61.68 62.82 1.14 3.60 61.70 4.68
and 147.92 149.35 1.43 2.31 13.40 2.55
SI-DDH12-120 353.41 355.75 2.34 2.23 64.40 3.36
including 353.41 354.75 1.34 3.68 111.00 5.63
SI-DDH12-123 180.00 181.14 1.14 6.35 10.00 6.53
SI-DDH12-125 129.25 130.15 0.90 2.16 1.80 2.19
and 145.42 154.30 8.88 1.27 8.70 1.42
LP-DDH12-129 139.34 141.73 2.39 9.25 12.10 9.46
LP-DDH12-131 182.88 184.00 1.12 2.67 3.30 2.72
and 445.50 446.50 1.00 1.19 4.80 1.27
LP-DDH12-133 53.96 57.30 3.34 1.49 16.20 1.77
LP-DDH12-134 4.27 4.87 0.60 2.33 5.60 2.42
ED-DDH12-136 157.18 158.59 1.41 1.79 3.30 4.07

2013 Exploration Program:

A program of surface trenching was initiated on the extrapolated southern extension of the El Dorado structure on the La Triada property. To date a total of three trenches have been completed all of which intersected the El Dorado structure on surface. The trench furthest to the south is approximately 600 meters from the El Dorado Mine portal. One additional trench is planned on El Dorado before additional trenching is initiated on semi-parallel structures located in the footwall of the El Dorado structure.

Vetas Gold Project - Sampling and QA/QC:

All the samples taken by CB Gold at its Vetas Gold Project were analyzed by ACME Labs in Vancouver, Canada, and in 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 previously operating mines and exploration concessions.

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.

Contact Information