CBR Gold Corp.: Niblack Joint Venture Commences Underground Drilling

EDMONTON, ALBERTA, Oct 05 (MARKET WIRE) --
CBR Gold Corp. (TSX VENTURE: CBG)(FRANKFURT: C3M) (the "Company") and its
Niblack Joint Venture partner Heatherdale Resources Limited
("Heatherdale"), a private company associated with the Hunter Dickinson
group, today announced that underground drilling has commenced at the
Niblack copper-gold-silver-zinc project located southwest of Ketchikan on
Prince of Wales Island in southeast Alaska.

The US$5.35 million exploration program will concentrate on resource
expansion at the Lookout Zone. This second phase of underground diamond
drilling comprises 7,620 metres (25,000 feet) and will be managed by
project operator Hunter Dickinson.

This US$5.35 million program represents the initial contribution by
Heatherdale to retain a 51% interest in the project by funding
exploration and development expenditures totaling in aggregate of at
least US$15 million within three years (see CBR press release dated
August 12, 2009).

CBR GOLD CORP. is a global exploration and development company creating
opportunity through project acceleration. We deliver value through
innovative thinking to identify and acquire underappreciated projects
worldwide. Our experience in the capital markets and technical expertise
allow us to develop early and advanced stage projects to the point of
joint venture or production. Our strategy is to partner with best in
class companies to reduce our risk while maximizing the potential for
success.

The diverse CBR Gold Corp. portfolio currently includes two advanced
stage projects, Niblack and Committee Bay in Nunavut, multiple generative
projects, marketable securities holdings and drilling companies in
Australia and Canada.

For information on the Niblack resource see October 27, 2008 Technical
Report filed on www.sedar.com.

The Company maintains an extensive quality control program in the
preparation, shipping and checking of all samples from the property. The
program is supervised by Peter Kleespies, M.Sc., P. Geol. who is the
Qualified Person as defined by NI 43-101. A detailed description of CBR
Gold Corp.'s QA/QC program is provided on the Company's website at
www.cbrgoldcorp.com.

CBR Gold Corp. is a member of the Discovery Group of companies, for more
information on the group visit www.discoveryexp.com.

On behalf of the Board

CBR Gold Corp.

John Williamson, P.Geol., President, CEO & Director

Certain disclosures in this release, including management's assessment of
CBR Gold Corp.'s plans and projects, constitute forward-looking
statements that are subject to numerous risks, uncertainties and other
factors relating to CBR Gold Corp.'s operation as a mineral exploration
company that may cause future results to differ materially from those
expressed or implied in such forward-looking statements. Readers are
cautioned not to place undue reliance on forward-looking statements. CBR
Gold Corp. expressly disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise.

"Neither 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."

Contacts:
CBR Gold Corp.
Derek Iwanaka
Manager, Investor Relations
604-646-4527 or toll-free 1-888-331-2269
604-646-4526 (FAX)
info@cbrgoldcorp.com
www.cbrgoldcorp.com

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