California Gold Announces Positive First Assays from Resource Drilling at Queen Specimen Zone - Intersects 30.2 M OF 1.21 G/T AU, Including 9.3 M OF 2.37 G/T AU at its Fremont Gold Project**

Toronto, Ontario (FSCwire) - California Gold Mining Inc. (“California Gold” or the “Company”) announces the first set of assay results from the recently commenced resource drilling program at the Queen Specimen zone at its flagship Fremont Project (the “Project” or “Fremont”) in Mariposa County, California.

Today’s results advance the Company’s main objective of generating a second mineral resource on the Property covering the newly identified Queen Specimen mineralized zone. This zone is located in the north-west portion of the Property, and constitutes roughly 750m of strike length, out of the total four kilometers strike of the Mother Lode shear zone (the “Shear Zone”) on the Property.

The Company’s current NI 43-101 open pit-constrained mineral resource of 515,000 ounces grading 1.71 g/t gold in the Indicated category, and an additional 364,000 ounces grading 1.44 g/t gold in the Inferred category, only encompasses the Pine Tree-Josephine zone within the Property (the NI 43-101 Technical Report is available on SEDAR and at the Company’s website www.caligold.com). The Pine Tree-Josephine zone hosts two historical underground gold mines, and covers a strike length of roughly one kilometre, out of a total strike of four kilometres over which the Shear Zone is interpreted to extend on the Property.

Vishal Gupta, California Gold’s President and CEO, said, “These results are exactly what we were hoping to see. We are extremely pleased with the substantial grades and sizeable widths intersected at the Queen Specimen zone that lies to the north of the Pine Tree-Josephine zone where the current NI 43-101 compliant mineral resource for Fremont is hosted. These latest results indicate the continuation of the near-surface gold mineralization along the strike of the Shear Zone and support our thesis that there is potential to significantly expand the current open pit-constrained mineral resource at Pine Tree-Josephine along strike at Queen Specimen. Having already demonstrated positive metallurgical results in 2014, California Gold aims to distinguish Fremont as one of the best emerging gold projects in North America by incrementally adding to its sizeable current mineral resource. In addition to the Pine Tree-Josephine and Queen Specimen deposits, the Fremont Project hosts numerous other very promising mineralized targets that will be the Company’s focus following the completion of the second mineral resource.”

Highlights from the first three holes of the current campaign at Queen Specimen are displayed in the following table. A map depicting the location of the major mineralized zones at Fremont, the plan-view collar locations for all three drill holes, and the corresponding interpreted geological cross-sections can be viewed in Appendices A, B and C of this press release, respectively.

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