SRK

CB Gold Inc. (TSX VENTURE:CBJ) ("CB GOLD" or the "Company") is pleased to
announce an initial mineral resource estimate ("Mineral Resource Estimate") on
its first three targets at its 100% owned Vetas Gold Project, District of
Santander, Colombia ("Vetas Gold Project"). The estimate and resource model
define two deposit styles: (i) near-surface stockwork and sheeted vein
mineralization, and (ii) narrow fault-fill veins; and provide the foundation for
further exploration and initiation of development studies on the Vetas Project.


NI 43-101 Mineral Resource Estimate

Highlights from the initial resource estimate recently completed by SRK
Consulting (Canada) Inc. ("SRK") of Vancouver, B.C. include:




--  Steep topography and shallow depth of mineralization: Approximately 70%
    of the total resource is above the valley floor (98% within 200 metres
    of valley floor), which is anticipated to minimize the mining
    infrastructure required to access the mineralization. 
--  Excellent metallurgy: Preliminary metallurgical tests indicate potential
    recoveries up to 96.1% from combined gravity and flotation processes
    (see CB Gold release on August 19, 2013). 
--  Strong continuity of mineralization: Modeling has delineated veins with
    up to 240 metres of geological continuity along strike and down dip. Due
    to gaps in drilling design, the estimated resources do not completely
    fill in the modeled veins which highlights the potential for adding new
    resources within the footprint of the current resource area. 

Table 1: Mineral Resource Statement(i), Vetas Project, Santander Department 
 - Republic of Colombia, SRK Consulting (Canada) Inc., effective date, March
 28, 2014.                                                                  
----------------------------------------------------------------------------
Category         Tonnage           Grade                     Metal          
                                                                            
                                   Au           Ag           Au           Ag
             ---------------------------------------------------------------
                  000' t          g/t          g/t       000'oz       000'oz
----------------------------------------------------------------------------
Narrow, Fault-Fill Veins(i)                                                 
----------------------------------------------------------------------------
Indicated            118         3.74         8.58           14           33
Inferred           1,681         4.42        17.01          239          920
----------------------------------------------------------------------------
Near Surface, Stockwork Veins(ii)                                           
----------------------------------------------------------------------------
Indicated          1,054         3.20         2.60          108           88
Inferred             941         1.64         1.63           50           49
----------------------------------------------------------------------------
Combined Mining                                                             
----------------------------------------------------------------------------
Indicated          1,172         3.25         3.20          123          121
Inferred           2,622         3.42        11.49          289          969
----------------------------------------------------------------------------
(i) Mineral resources are not mineral reserves and do not have demonstrated 
 economic viability. All figures are rounded to reflect the relative        
 accuracy of the estimate. Grade outlier restrictions have been used where  
 appropriate.                                                               
(ii) Narrow, Fault-fill vein mineral resources are expected to be mined     
 using underground methods and are reported at a cut-off of 1.50 g/t Au.    
 Near Surface, stockwork vein mineral resources are reported in relation to 
 a conceptual pit shell and are reported at a cut-off grade of 0.50 g/t Au. 
 Cut-off grades are based on the following assumptions: gold price: US$1,500
 per ounce, processing cost: US$16/tonne, G&A: US$2.50/tonne, recovery: 95%,
 and mining costs: US$2.50/tonne for open pit and US$50/tonne for           
 underground. No considerations were given to potential revenues from silver
 or other metals.                                                           



Vetas Project Exploration Potential (i):

Due to the high relief of the project area, surface drilling efforts have been
focused on drilling numerous holes from individual drill platforms to increase
definition efficiency. This has resulted in significant gaps in drilling
coverage along interpreted gold-silver veins. SRK considers these gaps, as well
as the interpreted down-dip extents of the veins, to be significant exploration
targets. In areas with large gaps in drilling coverage, SRK assessed exploration
potential for additional tonnes and grade which will be prioritized by CB Gold
in future drilling campaigns.


SRK estimated exploration potential separately for the El Dorado/San Bartolo
fault-fill vein systems and the Real Minera, intrusive hosted stockwork system.
The estimated exploration target for the El Dorado/San Bartolo fault-fill veins
range between 2.0M and 3.0M tonnes at an estimated grade ranging between 2.7 g/t
to 5.5 g/t Au (approximately, 170 to 530 thousand ounces of gold) and 10 g/t to
30 g/t Ag (approximately, 640 to 2,890 thousand ounces of silver). The estimated
exploration target for the Real Mineral stockwork veins range between 4.5M and
8.0M tonnes at an estimated grade ranging between 0.35 to 0.5 g/t Au
(approximately, 50 to 130 thousand ounces of gold) and 1 g/t to 1.25 g/t Ag
(approximately, 140 to 320 thousand ounces of silver).


(i) The potential quantity and grade is conceptual in nature; there has been
insufficient exploration to define a mineral resource; it is uncertain if
further exploration will result in discovery of a mineral resource.


Fabio Capponi, President and CEO of CB Gold Inc., said, "We are very pleased
with the initial resource estimate which involves only the first three targets
so far tested by the drilling program at the Company's Vetas Gold Project. The
resource estimate and the geological potential have demonstrated how quickly and
easily the resource at the Vetas Gold Project can be expanded, in fact, the
grade estimate model has shown several areas where drilling can be focused to
significantly increase the resource. We plan to aggressively target these areas
with future drilling, in conjunction with initiating development studies to
support a preliminary economic assessment of the project."


Resource Estimation Parameters:

Mineral resource estimates for the Vetas Gold Project were completed using
Maptek Vulcan(R) software by Guy Dishaw, P.Geo., of SRK. The resource estimate
incorporates the results of 161 drill holes and 132 surface channel samples that
have been verified by SRK.


Three dimensional mineralized vein domains were constructed by SRK by
incorporating drill hole intersections with underground and surface mapping
data. A total of 34 vein models were designed and are grouped by their vein
character and orientation into 4 types: El Dorado fault-fill type, San Bartolo
and Real Minera - San Bartolo fault-fill type, and Real Minera Stockwork type.


Original assays were composited to 1.5 metre lengths within the mineralized vein
domains. Very few samples were traditionally capped at 100 g/t Au and 200 g/t
Ag. The influence of very high-grade gold and silver values was further limited
by employing a search distance restriction which prevents a sample, with a value
above a high-grade threshold, from being used to estimate distant blocks. The
high-grade threshold values were established by analysis of cumulative
probability plots and the restriction distance was limited to the range of
modeled continuity for the type of vein (15m for Fault-fill type veins and 30m
for Stockwork type veins). Limiting the influence of the very high-grade samples
results in overall metal losses of 17% for gold and 26% for silver.


Ordinary kriging and inverse distance interpolation methods were used to
estimate Au and Ag grades within each of the Real Minera Stockwork type and
Fault-Fill type mineralized domains, respectively. Metal values were estimated
into blocks measuring 5x5x5 metres, sub-blocked to a minimum of 1x1x1 metres.
Known mined areas were removed, based on available surveys of the existing
underground development drifts and stopes.


Mineral resources are classified in the Indicated category for all blocks
estimated by a minimum of 3 samples, where at least 1 sample occurs within a
maximum of 20m from the block centroid. All remaining estimated blocks were
assigned to the Inferred category, if at least one sample used to estimate the
block was found within a maximum distance of 60m from the block centroid.


Qualified Persons

Guy Dishaw, P.Geo., of SRK, Vancouver, B.C., a "Qualified Person" as defined
under NI 43-101 is responsible for the estimation of the Vetas Gold Project
mineral resources. The contents of this press release were prepared and approved
by Marius Mare, M.Sc., P.Geo., Vice President Exploration, CB Gold Inc. The
complete NI 43-101 technical report will be filed within 45 days of this press
release and will be available on the Company's website at www.cbgoldinc.com and
on SEDAR at www.sedar.com.


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 declared Regional Natural Park Paramo de Santurban.


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.
info@cbgoldinc.com
www.cbgoldinc.com

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