CB Gold Inc. Announces the Adoption of a Shareholders Rights Plan and the Amendment of Warrants - Seite 2

To the best of the Board's knowledge, no existing shareholder of the Company owns greater than 20% of the issued and outstanding common shares of the Company. CB Gold is not aware of any pending or threatened take-over bid on the Company.

The Warrants Amendment

The Board of Directors has approved an amendment of the exercise price of 5,000,000 Warrants, which are held by arms-length parties, to an exercise price of $0.09 per common share. The amendment of the exercise price of Warrants to an exercise price of $0.09 per common share, which price is above the average closing price of the Company's shares on the TSX Venture Exchange for the last 10 trading days, is subject to TSX Venture Exchange approval. The Warrants were issued on November 11, 2011 as part of a non-brokered private placement with an exercise price of $1.40 and an expiry date of November 2, 2014. As required by TSX Venture Exchange Policy 4.1, the amended Warrants will have an accelerated expiry provision such that if the closing price of the Company's shares is equal to or greater than $0.115 for 10 consecutive trading days, the expiration of the Warrants will be 37 calendar days following such 10-day period. The remaining terms of the Warrants remain unchanged including the expiry date of the Warrants of November 2, 2014. 

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.

Cautionary Note Regarding Forward-Looking 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.

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.

CB Gold Inc.
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