Gunpoint Exploration Ltd.
TSX VENTURE : GUN

Gunpoint Exploration Ltd.

April 26, 2007 09:00 ET

Christopher James Closes $6,095,700 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 26, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE VIA US NEWSWIRE SERVICES

Christopher James Gold Corp. ("the Company") (TSX VENTURE:CJG) has closed the brokered private placement of 7,171,412 flow-through units (the "Units") at a price of $0.85 each for gross proceeds of $6,095,700. The private placement was first announced March 22, 2007.

Each Unit consists of one flow-through common share and one-half of a transferable non-flow-through warrant. Each whole warrant entitles the holder to purchase one non-flow-through common share until October 25, 2008 at a price of $1.25.

The private placement was led by Pacific International Securities Inc. and included Blackmont Capital Inc. (the "Agents"). A commission comprising $254,999 cash and 202,000 units was paid to the Agents. The commission units are non-flow-through, and the included warrants are non-transferable, but otherwise the commission units have the same terms as the Units. The Agents also received options to purchase 573,713 non-flow-through common shares of the Company until October 25, 2008 at a price of $0.90 per share.

The Company will use the flow-through funds raised in the private placement to incur exploration expenditures that constitute "Canadian exploration expenses" (as defined in the Income Tax Act), which will be renounced to subscribers of the private placement for the 2007 income tax year.

All securities issued pursuant to this offering are subject to a hold period until August 26, 2007.

About Christopher James Gold Corp.

Christopher James Gold Corp. is a Canadian mineral exploration company trading on the TSX Venture Exchange, under the symbol "CJG".

The Company has over $12 million in treasury and is well-funded to explore its large portfolio of gold projects in British Columbia, Nevada and Mexico:

- Most notably, it has the exclusive option to acquire 100% of Guardsmen Resources Inc., a private company that owns a number of highly-prospective properties in northern British Columbia, including the high-grade Ranch gold and copper project.

- In Durango State, Mexico, the Company has an option to acquire up to a 65% interest in Chesapeake Gold Corp.'s Cucaracha Dorada gold project.

- In Nevada, the Company is currently conducting first-phase exploration under option on the Olympic-Sun and Cedar Mountain gold and silver projects.

- In southern British Columbia, the Company owns 100% of the copper and gold rights to the historic Craigmont mine, as well as the Brassie Creek, Big Kidd, and Portage Lake gold properties.

Christopher James Gold Corp.

Dr. E. Max Baker, President and CEO

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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