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News 2006

CJGC Closes $ 5 Million Private Placement

December 20, 2006

Christopher James Gold Corp. (the “Companyâ€) has closed the private placement of 9,025,000 units (the “Unitsâ€) at a price of $0.55 each, for gross proceeds of $4,963,750.  The private placement was originally announced November 23, 2006 and increased November 29, 2006.

Each Unit comprises one common share and one-half of a transferable warrant to purchase one additional common share at a price of $0.75 until June 19, 2008.

Pacific International Securities Inc. (the “Agentâ€) acted as agent for the private placement, and received a commission consisting of $130,652.50 in cash and 390,000 Units, and compensation options to purchase 627,550 common shares of the Company at a price of $0.60 per share until June 19, 2008.

All securities issued pursuant to the private placement are subject to a hold period expiring on April 20, 2007.  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 www.christopherjamesgold.com. 

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

FURTHER INFORMATION
Christopher James Gold Corp.
Dr. E. Max Baker, President
John Glanville, Investor Relations
Tel: 604 408 8829
Email: info@christopherjamesgold.com

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States or to U.S. persons.  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 does not accept responsibility for the adequacy or accuracy of this news release.