CBR Gold Corp.

CBR Gold Corp.

August 17, 2009 09:00 ET

CBR Gold Corp.: Niblack Joint Venture Commences 2009 Exploration Program

EDMONTON, ALBERTA--(Marketwire - Aug. 17, 2009) - CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M) ("CBG") and its Niblack Joint Venture partner, a private company associated with the Hunter Dickinson Group ("HD"), today announced that it has commenced a US$5.35 million 2009 exploration program at the Niblack copper-gold-silver-zinc project located southwest of Ketchikan on Prince of Wales Island in southeast Alaska.

The Joint Venture has received approval from the State of Alaska to resume underground exploration and terminate the Temporary Closure Status of the Project. Work has begun to dewater and rehabilitate the Niblack exploration decline, which had been on care and maintenance, in preparation for a 7,620 metre (25,000 foot) underground drilling program scheduled to commence in September 2009. Mobilization of equipment and supplies to the project site via barge from Ketchikan is underway.

The main objective of the 2009 program will be to expand the current resource in the Lookout Zone through underground drilling, following up on high-value copper-gold-silver-zinc mineralization discovered during last year's initial underground campaign. The targeted extension of the Lookout Zone was largely inaccessible to drilling prior to development of the exploration decline completed in 2008. The current geological model for the Lookout Zone suggests the mineralization plunges moderately to the west-southwest and that excellent potential exists to significantly increase the resource base of the project.

CBG's initial underground drill program and updated metallurgical studies in 2008 successfully expanded the resource base of the Niblack Deposit. The Niblack Project currently hosts an Indicated Resource of 2,588,000 tonnes grading 2.33 g/t Au, 33.18 g/t silver, 1.18% copper and 2.19% zinc and an Inferred Resource of 1,712,000 tonnes grading 2.08 g/t gold, 32.56 g/t silver, 1.55% copper, and 3.17% zinc based on a US$50 NSR/tonne block cut-off. The resources are primarily within the Lookout Zone (For further information on the Niblack resource see Technical Report filed on SEDAR October 27, 2008, and CBG press release dated July 9, 2009).

The Niblack Joint Venture maintains an extensive quality assurance/quality control program covering the preparation, shipping and checking of all samples from the property. The program is supervised for CBG by Peter Kleespies, M.Sc., P.Geol. who is the Qualified Person as defined by NI 43-101. A detailed description of CBG's QA/QC program is provided on the Company's website at www.cbrgoldcorp.com.

On behalf of the Board

CBR Gold Corp.

John Williamson, P.Geol., President, CEO & Director

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

Certain disclosures in this release, including management's assessment of CBR Gold Corp.'s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to CBR Gold Corp.'s operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. CBR Gold Corp. expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

"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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