Capital Gold postpones 2009 annual meeting

2009-01-16 17:28 ET - News Release

Mr. Jeff Pritchard reports

CAPITAL GOLD ANNOUNCES POSTPONEMENT OF ANNUAL MEETING OF STOCKHOLDERS

Capital Gold Corp. has postponed its annual meeting of stockholders, which had been scheduled for Jan. 20, 2009. Details of the rescheduled annual meeting will be provided when they are available.

The annual meeting has been postponed to allow management sufficient time to respond to comments of the staff of the Securities and Exchange Commission resulting from a regular review of the company's periodic filings.

In addition to the report of management on internal controls over financial reporting that was contained in the company's recent Form 10-K, the SEC's comments require the company to obtain an attestation report of the company's independent registered accounting firm of internal controls over financial reporting, among other matters.

At the time that the Form 10-K was filed, that company believed that only management's report on internal controls over financial reporting was required because the company was previously a smaller reporting company and not required to obtain an attestation report of its independent auditor.

The staff of the SEC has indicated in its comment letter that an attestation report is required. Accordingly, the company has engaged its independent auditor to provide such an attestation report. Upon receipt of such report, the company will amend its Form 10-K to include the report and will thereafter schedule its annual meeting of stockholders.

Important information to stockholders

On Dec. 10, 2008, in connection with its 2009 annual meeting, Capital Gold mailed to its stockholders, and filed with the Securities and Exchange Commission, a proxy statement.

The company intends to amend its 2009 proxy statement in response to the SEC's comments. Stockholders are urged to read the amended proxy statement regarding the proposals to be acted upon at the annual meeting when it becomes available, because it will contain important information.

The company will mail the amended proxy statement to its stockholders when it is available. Stockholders will be able to obtain a free copy of the amended proxy statement, as well as other filings containing information about Capital Gold, without charge, at the SEC's Internet site.

Hg