California Gold Correction to Prior Press Release

Toronto, Ontario (FSCwire) - California Gold Mining Inc. (“California Gold” or the “Company”) announces a correction to its press release issued on April 30, 2018 titled "California Gold Closes Over-Subscribed Private Placement".

The press release referenced that 100,2000 broker warrants were issued and that aggregate commission of $27,550 was paid to certain finders. The correct number of broker warrants was 153,200 and the correct commission was $38,300. In addition the Company notes that such broker warrants expire 24 months from the applicable date of closing at an exercise price of $0.50 per share and that the broker warrants contain an acceleration provision whereby if the closing price of the Company’s common shares on the TSX Venture Exchange is at a price equal to or greater than $0.60 for a period of 10 consecutive trading days, the Company will have the right to accelerate the expiry date of the broker warrants, whereby the broker warrants will expire 30 days from the date of the notice to the broker warrant holders.

About California Gold Mining Inc.

California Gold Mining Inc. is focused on developing its flagship Fremont gold project in Mariposa County, California. The project consists of a land package totaling 3,351 acres of historically producing gold mines. The Fremont Property lies within California’s prolific Mother Lode Gold Belt that has produced over 50 million oz of gold historically. The Company purchased the property in March 2013.

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 release.

For further information contact:

Vishal Gupta

President & CEO

647-977-9267 x333     Website: www.caligold.ca

To view the original release, please click here

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