CBR Gold Corp.

CBR Gold Corp.

October 05, 2009 09:00 ET

CBR Gold Corp.: Niblack Joint Venture Commences Underground Drilling

EDMONTON, ALBERTA--(Marketwire - Oct. 5, 2009) - CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M) (the "Company") and its Niblack Joint Venture partner Heatherdale Resources Limited ("Heatherdale"), a private company associated with the Hunter Dickinson group, today announced that underground drilling has commenced at the Niblack copper-gold-silver-zinc project located southwest of Ketchikan on Prince of Wales Island in southeast Alaska.

The US$5.35 million exploration program will concentrate on resource expansion at the Lookout Zone. This second phase of underground diamond drilling comprises 7,620 metres (25,000 feet) and will be managed by project operator Hunter Dickinson.

This US$5.35 million program represents the initial contribution by Heatherdale to retain a 51% interest in the project by funding exploration and development expenditures totaling in aggregate of at least US$15 million within three years (see CBR press release dated August 12, 2009).

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 and Committee Bay in Nunavut, multiple generative projects, marketable securities holdings and drilling companies in Australia and Canada.

For information on the Niblack resource see October 27, 2008 Technical Report filed on www.sedar.com.

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

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

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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