CGM Appoints New CFO and Announces Other Corporate Changes

Toronto, Ontario (FSCwire) - California Gold Mining Inc. (“CGM” or the “Company”) is pleased to announce that Mr. Louis Nagy has been appointed as the Company’s new Chief Financial Officer & Corporate Secretary. Mr. Nagy is a Chartered Professional Accountant with over 28 years of industry and public practice experience having held the positions of Chief Financial Officer and Corporate Secretary for several private and public companies.

CGM’s President & CEO, Mr. Vishal Gupta, stated, “With the maiden NI 43-101 resource estimate around the corner, and the imminent release of assays from newly discovered mineralized zones at Fremont, the Company sits at a very critical inflection point in its life cycle. I welcome Lou’s addition to the management team at this crucial stage, and look forward to us creating incremental shareholder value together.”

The Company also announces that Mr. Behn Conroy will no longer be part of CGM’s management team. The Company’s Board of Directors and management team would like to take this opportunity to sincerely thank Mr. Conroy for his hard work and dedication as its Chief Financial Officer & Corporate Secretary over the last several years, and wishes him well in his future endeavours.

Additionally, the Company announces the resignation of Mr. Alan Stephens from the position of Director on the Company’s Board of Directors. The Board wishes to thank Mr. Stephens for his valuable contribution to the progress of the Fremont Project since 2014, and wishes him well in his future endeavours.

About California Gold Mining Inc.

California Gold Mining Inc. is focused on developing its flagship Fremont gold project in Mariposa County, California. The project consists of a land package totaling 3,351 acres of historically producing gold mines. The Fremont Property lies within California’s prolific Mother Lode Gold Belt that has produced over 50 million oz of gold historically. The Company purchased the property in March 2013.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release contains statements that constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding the planned 43-101 resource estimate and the timing thereof. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward looking statements. Any factor could cause actual results to differ materially from the Company's expectations. The Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, unless otherwise required by law.

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 release.

For further information contact:

Vishal Gupta

President and Chief Executive Officer

647-977-9267 x333

Website: www.caligold.ca

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