CBJ

CB Gold Inc. (TSX VENTURE:CBJ) ("CB Gold" or the "Company") is very pleased to
report positive results from its preliminary metallurgical testwork on material
from the Company's Vetas Gold project. 


These preliminary results indicate:



--  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%.



Fabio Capponi, CEO, commented, "We are very pleased with the preliminary test
results and the strong recoveries achieved at coarse grind sizes in just over 24
hours of leach time. These results also indicate that the traditional process
methods of gravity, flotation and cyanidation are all open to the Company, and
provide a strong basis to move the Vetas Gold Project forward. The Company will
now be proceeding with further testwork over 2013 and into 2014 to optimise the
processing options, including investigating the production of a high-grade
concentrate for direct smelting."


Preliminary Metallurgical Testwork Program

The testwork was undertaken by Inspectorate Exploration & Mining Services Ltd
("IEMS") at their Metallurgical Division laboratories in Richmond, BC. Samples
selected from the drill core at the Vetas Gold Project and totalling 172kg were
sent to IEMS, and three composite samples representing the main mineralisation
types were prepared:




Composite 1   El Dorado Vein System                   3.77 g/t Au
Composite 2   Real Minera Oxide Zone                  2.22 g/t Au
Composite 3   Real Minera Primary Sulphide Zone       6.20 g/t Au



The composites were ground to three sizes - P80 passing 150, 100 and 75 microns
and the testwork included gravity concentration, cyanide leaching of the gravity
circuit tailings, and sulphide flotation of the gravity tailings.


Gravity Recovery Tests

Excellent recoveries were achieved in the centrifugal gravity concentration
tests. For each test a 4kg sample was slurried to 20% solids and fed through a
3" laboratory Knelson concentrator in 2 passes, and the tests show that the
optimal recovery was achieved at a P80 grind size between 100 and 150 microns.
Maximum two pass Au recoveries of 82.8%, 73.5% and 84.0% were achieved on
composites 1, 2, and 3 respectively.


Cyanide Leach Tests

Bottle-roll direct cyanidation leach tests were undertaken to evaluate gold
extraction rates on a representative 2kg split of the gravity circuit tailings.
Optimum leach kinetics occurred at the P80 150 micron grind size, and maximum
gold extraction was achieved in just over 24 hours of leaching. The maximum
combined gold recoveries for gravity circuit / cyanide leach were 94.0%, 94.1%
and 94.5% and were achieved at a grind size between P80 150 to 100 microns. The
detailed combined results are:




               Grind Size     Gravity Au    CN leach Au    Combined Au
Comp.         P80 microns     Recovery %   Extraction %     Recovery %
                      150           82.2           66.0           94.0
1                     100           80.0           60.5           92.1
                       75           78.2           57.3           90.7
                      150           64.0           78.4           92.2
2                     100           73.5           77.6           94.1
                       75           55.6           76.3           89.5
                      150           76.8           76.3           94.5
3                     100           84.0           64.7           94.3
                       75           79.9           65.5           93.1



Rougher Flotation Tests

Baseline rougher flotation tests were concluded on 2kg splits of the gravity
circuit tailings, at each grind size and a total of four stages. The results
indicate that, similarly to the gravity tests, optimal gold recovery was
achieved at the median grind size of P80 100 micron. The combined gold
recoveries for gravity circuit / flotation are as follows:




               Grind Size     Gravity Au   Flotation Au    Combined Au
Comp.         P80 microns     Recovery %     Recovery %     Recovery %
                      150           82.2           52.3           91.5
1                     100           80.0           71.4           94.3
                       75           78.2           68.8           93.2
                      150           64.0           27.9           74.0
2                     100           73.5           34.6           82.7
                       75           55.6           34.8           71.1
                      150           76.8           66.3           92.2
3                     100           84.0           75.6           96.1
                       75           79.9           75.1           95.0



Maximum combined gold recoveries of 94.3%, 82.7% and 96.1% were achieved on
composites 1, 2 and 3 respectively at a grind size of P80 100 microns. Given the
successful results of the rougher flotation, testwork will now be undertaken to
assess the potential to produce a gravity / flotation concentrate that can be
sent for direct smelting, eliminating the need for cyanidation.


Further Metallurgical Work

Based on the success of these preliminary results, the Company will be pursuing
further testwork to optimise the processing options available for the Vetas Gold
Project. This work will include the optimisation of the gravity / sulphide
flotation concentrate, a process route that would eliminate the need for cyanide
leaching by producing a high-grade concentrate for direct smelting, and the
assessment of a master composite combining all three ore types. In addition, the
recovery of silver will be optimised. The next stages of testwork will be
conducted in the second half of 2013 and into 2014.


2013 Exploration Program:

The Company has now completed its 2013 drilling program at the Vetas Gold
Project, with additional exploration fieldwork expected to be completed in
September 2013. The results of the latest drilling and sampling will be released
when received and form part of the work to prepare a NI 43-101 compliant
resource statement. The 2013 program tested the extension of the El Dorado
structure, the San Antonio structure and the Real Minera sheeted vein complex.


Given the market conditions for mining in general and exploration in particular
the Company has been actively conserving its cash position, reducing
expenditures and amending its budget to ensure that it has sufficient resources
on hand to continue development of the Vetas Gold Project in 2014.


The scientific and technical information on which this news release has been
based was reviewed and approved by Marius Mare, Vice President Exploration and a
Qualified Person as defined by National Instrument 43-101 - Standards of
Disclosure for Mineral Projects.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CB Gold Inc.
+1 (604) 630-5870
+1 (604) 630-5871 (FAX)
info@cbgoldinc.com
www.cbgoldinc.com

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