CBR Gold Corp.

CBR Gold Corp.

December 11, 2009 18:49 ET

CBR Gold Corp Closes $2.3M Private Placement

EDMONTON, ALBERTA--(Marketwire - Dec. 11, 2009) - CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M)("CBR" or the "Corporation") today announced that it has closed a non-brokered private placement of 4,597,000 units of the Corporation (each a "Unit") at a price of $0.50 per Unit for gross proceeds of $2,298,500. Each Unit consisted of one common share of CBR ("Common Share") and one non-transferable share purchase warrant ("Warrant") entitling the holder to acquire one additional Common Share at a price of $0.65 at any time and from time to time until the earlier of: (a) 30 days following the issuance by the Corporation of a news release that the closing price of the Common Shares on the stock exchange which the Common Shares are listed and posted for trading exceeded $1.00 for 10 consecutive trading days; and (b) December 11, 2014.

The Units were sold to qualified purchasers in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. In connection with the sale of an aggregate of 2,100,000 of the Units, CBR paid aggregate finder's fees of $52,500. The Common Shares and Warrants comprising the Units, and the Common Shares issuable on exercise of the Warrants are subject to a restricted period expiring on April 12, 2010.

About CBR Gold Corp.

CBR GOLD CORP. is a global exploration and development company creating opportunity through project acceleration. We deliver value through innovative thinking to identify and acquire underappreciated projects worldwide. Our experience in the capital markets and technical expertise allow us to develop early and advanced stage projects to the point of joint venture or production. Our strategy is to partner with best in class companies to reduce our risk while maximizing the potential for success.

The diverse CBR Gold Corp. portfolio currently includes two advanced stage projects, Niblack (Alaska) and Committee Bay (Nunavut), multiple generative projects, marketable securities holdings and drilling companies in Australia and Canada.

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, P.Geol., President, CEO & Director

"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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