CB Gold Inc.

CB Gold Inc.

May 17, 2011 22:27 ET

CB Gold Inc. Issues Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2011) - CB Gold Inc. (TSX VENTURE:CBJ) ("CB Gold" or the "Company") announces the issuance of 50,000 incentive stock options to new employees and 30,000 compensation options to consultants of the Company. The incentive stock options have been issued under the Company's existing Stock Option Plan, having an exercise price of $0.80 and are exercisable for a period of 5 years. The compensation options have been issued in accordance with the Compensation Options Agreement, having an exercise price of $0.80 and are exercisable for a period of 18 months.

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 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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