Capital Gold Announces Fiscal 2008 Year End Results Conference Call

    NEW YORK, Oct. 27 /CNW/ -- Capital Gold (TSX: CGC; OTC Bulletin Board:  
CGLD) will report its year end fiscal 2008 results on Thursday, October 30,
2008.  There will be a conference call that afternoon at 12 PM Eastern
Daylight Time, which will be accessible through dial-in conferencing.

    Dial-in Numbers: 1-800-741-4871 (North America)
                     1-212-231-2907 (International)

    Chris Chipman, Chief Financial Officer, John Brownlie, Chief Operating
Officer and Jeff Pritchard, Executive Vice President, will host the conference
call.  There will be a question and answer period at the end of the call. 
Please call in and register at least five minutes prior to the conference
start time.  The call will be archived and available on the Company's website
within 48 hours.

    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 proven and probable reserve is
now 832,000 ounces of gold. 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,

    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
expansion; 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.


For further information:

For further information: Jeff Pritchard, Executive Vice President,
Capital Gold Corporation, +1-212-344-2785, fax, +1-212-344-4537,, or Kelly Cody, Director, Corporate
Communications, Capital Gold Corporation, +1-212-344-2785, fax,
+1-212-344-4537,; or media, Victor Webb or Madlene
Olson, +1-212-684-6601, fax, +1-212-725-4709,, both of
Marston Webb International Web Site:

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