CBJ

NOT FOR DISSEMINATION IN THE UNITED STATES OR THOUGH U.S. NEWSWIRES

CB Gold Inc. (TSX VENTURE:CBJ) ("CB Gold" or the "Company") is pleased to
confirm the closing of its previously announced bought deal offering (the
"Offering") of 11,120,000 common shares (the "Common Shares") at a price of
$0.90 per Common Share for gross proceeds of $10,008,000.


BMO Capital Markets (the "Underwriter") was the sole underwriter of the
Offering. The Company has granted the Underwriter an over-allotment option,
exercisable in whole or in part at any time until 30 days following the closing
of the Offering, to purchase an additional 1,668,000 Common Shares at $0.90 per
Common Share to raise additional gross proceeds of up to $1,501,200. The
Underwriter received a cash fee of 6% of the gross proceeds of the Offering and
has been issued broker warrants equal to 6% of the total number of Common Shares
sold pursuant to the Offering.


The net proceeds from the Offering will be used for the continued exploration of
the Vetas Gold Project, and for working capital and general corporate purposes,
as further described in the Final Prospectus dated December 10, 2012.


Fabio Capponi, CEO of CB Gold, commented, "We are very pleased with the support
shown for the Company. This financing strengthens CB Gold's balance sheet and
allows us to further develop the Vetas Gold Project including the exploration of
undrilled targets at the Project in 2013."


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 existing mines (operations currently suspended) and exploration
concessions, and its exploration and development activities are not affected by
the proposed Regional Natural Park Paramo de Santurban.


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 the expected use of proceeds and 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CB Gold Inc.
Fabio Capponi
CEO
+1 (604) 630-5870
+1 (604) 630-5871 (FAX)


CB Gold Inc.
Orin Baranowsky
V.P. Investor Relations
+1 (416) 847-1845
info@cbgoldinc.com
www.cbgoldinc.com

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