CB Gold Inc. Schedules Requisitioned Special Meeting

Vancouver, BC - October 13, 2015 - CB Gold Inc. (the 'Company' or 'CB Gold') (TSX- V:CBJ) announces that it has scheduled a special meeting of the Company's shareholders (the 'Meeting') in response to a shareholder requisition by Red Eagle Mining Corporation ('Red Eagle'), as noted in CB Gold's news release of September 28, 2015.

The Meeting is scheduled to take place at Suite 1700, 666 Burrard Street, Vancouver, British Columbia, Canada V6C 2X8 on Friday, the 22nd day of January, 2016 at 10:00 a.m. (Vancouver Time).

The record date for determining shareholders entitled to notice of the Meeting and to vote at the Meeting is set as December 1, 2015 (the 'Record Date').

A Notice of Meeting, an Information Circular, the text of the requisition from Red Eagle and proxies relating to this Meeting will be mailed to shareholders nearer to the Record Date in accordance with the timing requirements under the Business Corporations Act (British Columbia) and National Instrument 54-101 'Communications with Beneficial Owners of Securities of a Reporting Issuer' promulgated under the Securities Act (British Columbia).

This news release is not intended to, and does not, constitute a solicitation of proxies in relation to the Meeting. Any solicitation of proxies by or on behalf of management of the Company in relation to the Meeting will take place upon and following the dissemination of the management information circular and other meetings materials in accordance with applicable law.

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 and exploration concessions.

For more information on CB Gold please visit our web site at www.cbgoldinc.com or contact the Company, at +1 (604) 630-5870, or [email protected]

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.

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Cautionary Note Regarding Forward-Looking Statements

Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as 'anticipate', 'believe', 'plan', 'estimate', 'expect', and 'intend', statements that an action or event 'may', 'might', 'could', 'should', or 'will' be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the proposed sale transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: failure to satisfy all conditions precedent to the transaction, including disinterested shareholder approval and stock exchange regulatory approval, and the additional risks identified in the management discussion and analysis section of the Company's interim and most recent annual financial statement, the Batero Offer and Circular, or other reports and filings with Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward- looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.