CB Gold Inc.

CB Gold Inc.

May 05, 2011 08:01 ET

Peter Barnes Appointed Chairman of CB Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2011) - CB Gold Inc. (TSX VENTURE:CBJ) ("CB GOLD" or the "Company") is pleased to announce the appointment of Mr. Peter Barnes, former Chief Executive Officer of Silver Wheaton Corp., as the Non-Executive Chairman of the Company.

Fabio Capponi, CEO of CB Gold commented: "We are very pleased that Peter is taking on the role of Chairman, as he brings great experience and a very successful track record in building companies. We look forward to working with him in developing CB Gold's current and future projects."

Mr. Fabio Capponi will continue his role of leading the Company as Chief Executive Officer and Mr Giles Baynham, formerly the Executive Chairman, will become the President. The appointment of a Non-Executive Chairman also strengthens the corporate governance of the Company and brings it into line with standard public company practice.

Mr. Peter Barnes noted, "I'm thrilled to take on the role of Chairman of CB Gold. I look forward to working closely with the strong management group to maximise the value of the Company's attractive asset base."

Cautionary Note Regarding Forward-Looking Statements

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. SecuritiesAct") 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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