California Gold Announces More High-Grade Assays from New Discovery at Queen Specimen Zone - Intersects 22.91 g/t Au Across 1.8 m, Hosted within a Broader Zone Grading 4.67 g/t Au Across 14.9 m at Fremont

(TRUE WIDTHS ARE APPROXIMATELY 94% OF REPORTED INTERVALS)

Toronto, Ontario (FSCwire) - California Gold Mining Inc. (“California Gold” or the “Company”) announces the fifth set of assay results from the ongoing resource drilling program at the Queen Specimen zone at its flagship Fremont Project (the “Project” or “Fremont”) in Mariposa County, California. Assays for the first 11 holes from the current program at Queen Specimen were announced in separate press releases dated February 8, 2018, February 21, 2018, March 5, 2018 and April 3, 2018, respectively.

Today’s results further advance the Company’s main objective of generating a second shallow 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.

Vishal Gupta, California Gold’s President and CEO, said, “Today’s assays surpass even the highest-grade results ever received from the Queen-Specimen zone released last week. We are demonstrating continuity within the newly discovered high-grade mineralization hosted on the hanging wall side of the Shear Zone. This is particularly noteworthy because that geological unit has not been systematically drilled before, and is traditionally not associated with significant mineralization. The collars for the two holes released today are located approximately 60 metres northwest of the two high-grade holes released last week, and significantly extend the high-grade mineralized zone on the hanging wall side along strike. We do not know yet how large this discovery may prove. We are excited to further delineate the true extent of this new discovery while developing a substantial mineral resource for the Queen Specimen zone.”

Highlights from today’s two holes 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 the two drill holes, and the corresponding geological cross-sections can be viewed in Appendices A, B and C, respectively.

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