CB Gold Inc : Vetas Gold Project Unaffected By Announced Natural Park Paramo De Santurbán

VETAS GOLD PROJECT UNAFFECTED BY ANNOUNCED NATURAL PARK PARAMO DE SANTURBAN Vancouver, British Columbia: January 17, 2013 - CB Gold Inc. (TSX-V: CBJ) ("CB Gold" or the "Company") announces that the boundaries of the Parque Natural Regional Paramo de Santurbán ("the Park) have been established by the Corporación Autónoma 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 or contact Fabio Capponi, CEO at [phone] or Orin Baranowsky, V.P. Investor Relations at [phone], or [e-mail].

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

Corporate Office: 907-1030 West Georgia Street, Vancouver V6E 2Y3 Tel: [phone] Fax: [phone] www.cbgoldinc.com
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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.

Corporate Office: 907-1030 West Georgia Street, Vancouver V6E 2Y3 Tel: [phone] Fax: [phone] www.cbgoldinc.com
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