Here is some correspondance i've had with the CEO, mr capponi. My original questions are in my email bellow, and his answers are further down. Also I asked for some clarification on one of the questions, which im awaiting an answer to. enjoy!

Thanks for your email and support.

Below please find my answers to your questions:

1. We completed the second hole in December. We put on hold the drilling during the Christmas Holidays to respect the local holidays tradition. We took the chance of this period of pause to also change the rig switching from a KD600 to a KD1000. This second rig is more powerful and will give us the opportunity to drill greater depth. The next campaign will probably start in late February

2. We have an aggressive drilling program for which we budgeted around $3.5 million for 2011.

3. The company has $20 million available. Note that the warrants issued during the last financing have an exercise price of C
.70 for 5 years. The entire capital structure of the company is in the money. As per the use of proceed slide in the presentation available on the web site, we budgeted approximately C$20 million for the next 12/18 months.

4. We expect to start the Geophysics on the Vetas properties in February 2011.

5. We don’t keep truck of the shareholders now that the public trading has started. We estimate that on Nov 26th about 15% of the shareholders were institutional.

I hope the above answers clarify your questions.

In order for us to keep contact with our shareholders we like to understand their investment process, consequently we would like to ask you when did you buy the 100,000 shares? Did you participate in the last financing or did you buy them on the secondary Market?

Best Regards,

Fabio Capponi

President and CEO, Director
CB Gold Inc
T: +1 778 389 7274
T: +57 321 205 2634

www.cbgoldinc.com

David A.

To [email protected]

From:	David A. ([email protected])
Sent:	January 12, 2011 5:55:40 PM
To:	[email protected]

Dear Mr capponi,

Thank you for the prompt reply. I bought all my shares on the secondary market in the last 2 weeks. I came accross your company because Im invested in galway resources and auro resources as well, and your company has a similarity to them. I understand that the Vetas region of colombia has some of the best potential for high grade gold in colombia.

I especially like how you are well financed, which is important for any agressive junior explorer. I also think your management team is second to none, and that is an important criteria for me since I believe you will be able to run this project smoothly and with great results. Those reasons are why I chose to buy into your company.

do you plan to have a news release soon for the 2 holes that have been drilled so far?

just to clarify on your answer, has the 3000m of drilling resumed from the holidays? and if so, when do you forecast it to be completed?

i'm not sure if you meant that the second phase (10000m) will begin late february, or if the 3000m will resume in february...

I also want to personally thank you for answering my questions, I feel priviledged that you are taking time from your busy schedule to inform me.

take care,

David A.

Dear mr. capponi,

My name is David, I am an investor in your company who currently owns 100,000 shares and wish to increase my position in the near future. I have a few questions for you, and I would be thankful if you could answer them. Here they are:

1-as for the 3000m program at real minera, how many holes do you have drilled so far, and when do you expect it to be done and start on the next 10000m?

2-Aside from the above, you say you plan to go aggressive this year, what plans do you have for 2011?

3-how much cash do we currently have and how much do you think we will be spending this year (roughly)?

4-when can we expect the geophysics survey to be completed?

5-what is the percentage of institutional ownership of the company?

thank you,

David A.

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Dear Mr. A,