Capital Gold Announces Record Gold Production Totals for December 2008



    


    
    NEW YORK, Jan. 6 /CNW/ -- Capital Gold (TSX: CGC; OTC Bulletin Board:  
CGLD) announced today that it produced 5,375 ounces of gold in December at its
El Chanate mine in Sonora, Mexico.  This represents the Company's best monthly
production to date, and surpasses the previous best monthly total of 4,750
ounces by 13%.
    

    
    Capital Gold's Chief Operating Officer, John Brownlie, said, "This
increased production is the result of careful planning and implementation of
our production enhancement program that we initiated in mid-2008.  The program
will culminate with the installation of an additional crusher module,
scheduled for late March.  This will allow for further production increases." 
All of the financing for the program's upgrades and additions have been
provided through operational cash flow.
    

    About Capital Gold
    
    Capital Gold Corporation (CGLD: CGC) is a gold production and exploration
company.  Through its Mexican subsidiaries and affiliates, it owns 100% of the
El Chanate gold property in Sonora, Mexico.  The Company has produced 40,000
ounces of gold in its first year of operation.  Further information about
Capital Gold and the El Chanate Gold Mine is available on the Company's
website, www.capitalgoldcorp.com.
    

    
    Statements in this press release, other than statements of historical
information, are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that
forward-looking statements are inherently uncertain. Actual performance and
results may differ materially from those projected or suggested due to certain
risks and uncertainties, some of which are described below. Such
forward-looking statements include comments regarding the establishment and
estimates of mineral reserves and non-reserve mineralized material, future
increases in mineral reserves, the recovery of any mineral reserves, grade,
processing rates and capacity, estimated future gold production, potential
mine life and future growth of the company. Factors that could cause actual
results to differ materially include timing of and unexpected events during
construction, expansion and start-up; variations in ore grade, tonnes mined,
crushed or milled; delay or failure to receive board or government approvals;
the availability of adequate water supplies; mining or processing issues, and
fluctuations in gold price and costs. There can be no assurance that future
developments affecting the Company will be those anticipated by management.
    

    
    Any forecasts contained in this press release constitute management's
current estimates, as of the date of this press release, with respect to the
matters covered thereby. We expect that these estimates will change as new
information is received and that actual results will vary from these
estimates, possibly by material amounts. While we may elect to update these
estimates at any time, we do not undertake to update any estimate at any
particular time or in response to any particular event. Investors and others
should not assume that any forecasts in this press release represent
management's estimate as of any date other than the date of this press
release. Additional information concerning certain risks and uncertainties
that could cause actual, results to differ materially from that projected or
suggested is contained in the Company's filings with the Securities and
Exchange Commission (SEC) over the past 12 months, copies of which are
available from the SEC or may be obtained upon request from the Company.
    

    

    
    Contact:
    Jeff Pritchard, Executive Vice President          Tel: (212) 344-2785
    Capital Gold Corporation                          Fax: (212) 344-4537
    Email: pritchard@capitalgoldcorp.com
    

    
    Kelly Cody, Director, Corporate Communications    Tel: (212) 344-2785
    Capital Gold Corporation                          Fax: (212) 344-4537
    Email: kelly@capitalgoldcorp.com
    

    
    Media Inquiries
    Victor Webb/Madlene Olson                         Tel: (212) 684-6601
    Marston Webb International                        Fax: (212) 725-4709
    Email: marwebint@cs.com



    




For further information:

For further information: Jeff Pritchard, Executive Vice President,
pritchard@capitalgoldcorp.com; or Kelly Cody, Director, Corporate
Communications, kelly@capitalgoldcorp.com, both of Capital Gold Corporation,
+1-212-344-2785, Fax: +1-212-344-4537; or Victor Webb or Madlene Olson, both
of Marston Webb International, +1-212-684-6601, Fax: +1-212-725-4709,
marwebint@cs.com Web Site: http://www.capitalgoldcorp.com/

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CAPITAL GOLD CORPORATION

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