CB Gold Inc. Announces Commencement of Gekko Systems' Gravity Pre-Concentration Amenability Testwork for Its Vetas Gold Project Ore Samples

VANCOUVER, BC--(Marketwired - July 30, 2014) - CB Gold Inc. (TSX VENTURE: CBJ) ("CB Gold" or the "Company") announces the commencement of testwork to determine the amenability of the CB Gold Vetas ore samples to processing via gravity pre-concentration followed by intensive leaching.

The scope of this testwork consists of:

• A cyclic vertical shaft impactor (VSI) amenability test will be performed as part of the sample preparation. This will help determine if the sample is amenable to crushing with a VSI, which is typically used in modular plants;
• A two stage continuous gravity recovery (CGR) test determines the gravity gold recovery that can be achieved followed by flotation of the gravity tailing and an intensive leaching test on the combined gravity and flotation concentrate.

The processing testwork will be conducted on 120kg samples selected from the drill core and available mines at the Vetas Gold Project. The testwork is being undertaken by Gekko Systems Pty Ltd, Ballarat, Australia and will take approximately 6-8 weeks to complete. The primary focus of the program is to test the performance of the ore in a Gekko Systems flowsheet.

This processing testwork follows on from the results of the preliminary and further metallurgical testwork on August 19, 2013 and on May 22, 2014, respectively:

The preliminary results indicated:

• Strong recoveries of 94.0%+ for traditional gravity concentration and cyanide leach;
• Combined gravity / flotation concentrate recoveries of up to 96.1%;
• These recoveries for both processes occurred at relatively coarse grind sizes of P80 150 to 100 microns;
• Maximum cyanide leach recoveries occurred in just over 24 hours residence; and
• Excellent recoveries in the gravity circuit of up to 84%.

The results from the 2014 testing indicate:

• Combined gravity / flotation concentrate recoveries of up to 99.8%;
• Recoveries of up to 91.4%+ for traditional gravity gold recovery;
• Strong recoveries occurred at relatively coarse grind sizes of P80 100 microns;
• The Vetas samples were not found to be sensitive to grind size with respect to metal recoveries;
• Sulphur concentration was found to be proportional to overall metal recovery.

For further details regarding the preliminary and further metallurgical testwork results please visit our web site at www.cbgoldinc.com.

Fabio Capponi, CEO, commented, "These processing tests represent CB Gold's additional step towards the future development of its Vetas Gold Project. The Company will advance with additional testwork as may be required by the different processing options."

About CB Gold Inc.:

CB Gold is a mineral exploration company headquartered in Vancouver, British Columbia. CB Gold, through its wholly-owned subsidiary, Leyhat Colombia Sucursal, is actively pursuing the exploration and development of mineral properties in the Republic of Colombia. The Vetas Gold
Project consists of a number of previously operating mines and exploration concessions.

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.

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. 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.

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.