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News 2006

CJGC to Raise $2,750,000 by Private Placement

November 23, 2006

Christopher James Gold Corp. (the “Companyâ€) announces that Pacific International Securities Inc. (the “Agentâ€) has agreed to act as its agent for the private placement, on a commercially reasonable efforts basis, of up to 5,000,000 units (the “Unitsâ€) of the Company at a price of $0.55 each, for gross proceeds of up to $2,750,000.

Each Unit consists of one common share and one half of a transferable warrant to purchase an additional common share for a period of eighteen months from closing at a price of $0.75.  There is an over-allotment option for the sale of up to an additional 1,500,000 Units.

A commission of 7% of the gross proceeds of the offering will be paid to the Agent, in cash and/or Units at the Agent’s election, at the time of the issuance of the Units.  The Agent will be entitled to compensation options equal to 7% of the number of Units sold in the offering.  Each compensation option is exercisable at a price of $0.60 for eighteen months into one common share of the Company.  The financing is subject to receipt of all necessary regulatory approvals.

The proceeds of the offering will be used to fund the Company’s exploration projects and for working capital.

About Christopher James Gold Corp.

Christopher James Gold Corp. is a Canadian mineral exploration company trading on the TSX Venture Exchange, under the symbol “CJGâ€.

The Company holds interests in a large portfolio of gold projects in British Columbia, Nevada and Mexico:

  • Most notably, it has the exclusive option to acquire 100% of Guardsmen Resources Inc., a private company that owns a number of highly-prospective properties in the Toodoggone mining district in northern British Columbia, including the high-grade Ranch gold and copper project.
  • In Durango State, Mexico, the Company has an option to acquire up to a 65% interest in Chesapeake Gold Corp.’s Cucaracha Dorada gold project.
  • In Nevada, the Company is currently conducting first-phase exploration under option on the Olympic-Sun and Cedar Mountain gold and silver projects.
  • In southern British Columbia, it owns 100% of the copper and gold rights to the historic Craigmont mine, as well as the Brassie Creek, Big Kidd, and Portage Lake gold properties.

The Company has assembled a strong management team with extensive experience in project generation and development, a proven track record of exploration capital fundraising, and extensive international alliances.

Visit our website at 

Christopher James Gold Corp.
Dr. E. Max Baker, President

Christopher James Gold Corp.
Dr. E. Max Baker, President
John Glanville, Investor Relations
Tel: 604 408 8829

This news release contains forward-looking statements.  Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “mayâ€, “shouldâ€, “expectsâ€, “plansâ€, “anticipatesâ€, “believesâ€, “estimatesâ€, “predictsâ€, “potential†or “continue†or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein.  Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled “Risk Factors†in the Company's periodic filings with the British Columbia Securities Commission, which can be viewed at

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Actâ€) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of the contents of this news release.