CB Gold Inc.: Vetas Gold Project Unaffected by Announced Natural Park Paramo de Santurban

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/13 -- CB Gold Inc. (TSX VENTURE: CBJ) ("CB Gold" or the "Company") announces that the boundaries of the Parque Natural Regional Paramo de Santurban (the "Park") have been established by the Corporacion Autonoma Regional para la Defensa de la Meseta de Bucaramanga ("CDMB"). The announced boundaries of the Park do not impact the Company's ability to conduct exploration and development activities at its flagship Vetas Gold Project.

The new Park does include some land that is part of the La Vereda property, separate to and five kilometers south-west of the flagship Vetas Gold Project, however the majority of what the Company has deemed to be the most prospective areas of La Vereda are not impacted by the Park. As such, CB Gold will still have the ability to access and conduct its planned exploration activities on the property.

Fabio Capponi, CEO of CB Gold, commented, "We are pleased that any concerns about the development of the Vetas Gold Project have been removed by the announcement of the new Park, and our exploration and development activities will continue as planned - mining and exploration activity is a significant contributor to the economic and social well-being of the Vetas Region, which we strongly support. We are reviewing the positioning of the Park boundary at La Vereda and will be addressing any concerns with the CDMB and relevant government agencies."

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.

For more information on CB Gold please visit our web site at www.cbgoldinc.com.

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.

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.

Contacts:

CB Gold Inc.

Fabio Capponi

CEO

+1 (604) 630-5870

+1 (604) 630-5871 (FAX)


CB Gold Inc.

Orin Baranowsky

V.P. Investor Relations

+1 (416) 847-1845
info@cbgoldinc.com
www.cbgoldinc.com