CBR Gold Continues to Expand High-Grade Precious Metals-Rich Mineralization at Niblack

Fundamentals for gold and base metals have never been in question save minor hiccups with vagaries of the world economy thus boosting the investment case of both producing companies and exploration companies. Making them unique however are the quality of assets and the business model. In what could be a unique business model, Canadian Venture and Frankfurt listed CBR Gold Corp. (TSX-V: CBG, Frankfurt: C3M) is looking to develop their prospect portfolio through joint ventures and partnerships.

Such strategies are not alien to mining investors. What makes CBG unique is the selection process of assets to be acquired. CBG seeks to acquire undervalued and underappreciated projects worldwide, use their technical expertise to accelerate early and advanced stage projects to the point of joint venture. CBG then partners with best in class companies for the development of their assets thus reducing risk to the company while maximizing the potential for success. Over the years, CBG has amassed a portfolio of excellent projects in Canada, the US and Australia.

For CBG, a busy 2010 awaits. According to John Williamson, President and CEO, the company intends to rapidly advance the Three Bluffs high grade gold deposit in the Committee Bay Greenstone Belt, Nunavut, Canada’ and has mobilized 4 drill rigs. CBG is in the process of spinning out some of its assets thus enabling the company to focus on its Canadian gold projects. Its flag ship projects, namely Niblack and Three Bluffs will be the main focus of CBG.

It nicely dovetails to CBG’s corporate strategy. The company’s joint venture partner, Heatherdale Resources Ltd is expected to fund exploration at Niblack to earn up to a 70% interest by funding it through to feasibility. Three Bluffs, meanwhile is 100% owned by CBG and is expected to see significant exploration by CBG. The North Country Gold Corp spin out, subject to shareholder approval, will be advancing the Three Bluffs Deposit. Three Bluffs hosts a NI 43-101 compliant resource of 2.7Mt at 5.85g/t gold for 508,000 oz gold (indicated) and 1.27Mt at 5.98g/t gold for 244,000oz gold (inferred). Explaining the intended spin out, Williamson stated that shareholders would hold an equal number of shares in two reporting issuers with distinct flagship projects that have unique prospects and requirements for success.

CBG intends to change its name to Niblack Mineral Development Inc. ("NIB"), which will retain its interests in the Alaskan VMS exploration properties located in Southeastern Alaska (Niblack, Ruby Tuesday and Khayyam) as well as an extensive proprietary database focused on this region. CBG will transfer its 100% owned Canadian and Australian assets, including the high-grade Three Bluffs deposit in Nunavut, Canada; the Jaurdi Hills project in Western Australia; and Toro Drilling Services Pty. Ltd. to the newly formed subsidiary North Country Gold Corp. ("NCG") in exchange for NCG shares, which CBG will then distribute to CBG shareholders on a 1:1 basis. CBG currently holds approximately $9 million in working capital, marketable securities and equipment, which will be allocated between NIB and NCG pursuant to the Transaction.

These corporate actions have not distracted the management of CBG and development efforts continue unabated. At the Niblack Project, CBG continues to encounter intersections of high-grade copper-gold-silver-zinc mineralization. The ongoing drill programme is utilizing two rigs which are presently focused on delineating the new, precious-metals enriched massive sulphide discovery located southwest of the Lookout Deposit; one of six known volcanogenic massive sulphide ("VMS") deposits within the 10 square mile Niblack property. The Joint Venture has now initiated a second and third series of underground fan drill holes.

Niblack's location at tidewater on Prince of Wales Island in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners. The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8000 people with important services to support project development, including a deep water port and international airport. The State's burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight.

About CBR Gold Corp.

CBR Gold Corp is a global exploration and development company focused on the acquisition and development of undervalued and underappreciated projects worldwide. The company has assets in Canada, the US and Australia and has a portfolio of gold and base metal prospects.  The company’s corporate strategy is to develop its assets through partnerships and joint ventures.

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