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Citigold Corporation Limited

The Australian Gold Mine

Deep Drilling Continues past 1,000m on way to 2,000m

28 August 2008: Brisbane, Australia - Citigold Corporation Limited (Citigold) (ASX:CTO, DIFX:CTO, FSE:CHP) advises that the Deep Hole at Charters Towers has reached 1,002 metres with a 2,000m target length. The prime targets are below 1,200 metres vertical depth.

Highlights of the announcement include:-

• The intersection of a gold mineralised structure with a down hole width of 1.75 metres

• The intersection may have extended the St Patrick structure 1,000 metres down dip and 1,500 metres along strike

• The drilling has passed into a different granite type, similar to the rock that hosts the major Brilliant and Day Dawn east west lodes.

You may follow the weekly progress of the deep drill hole on Citigold's website at www.citigold.com

To view more information please click HERE or visit our website at www.citigold.com

Kind regards

Mark J Lynch

Managing Director

Citigold Corporation Limited