Mr. Vishal Gupta reports

CALIFORNIA GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT

California Gold Mining Inc. has closed the third and final tranche of the previously announced (see press release dated May 21, 2020) non-brokered private placement of up to 4,687,500 common shares at a price of 16 cents per common share for total proceeds of up to $750,000.

In the third and final closing, the company issued a total of 1,468,750 common shares for gross proceeds of $235,000. The combined total raised in all three tranches is $751,800 from the issuance of 4,698,750 common shares.

The common shares issued in this final closing are subject to a four-month hold period expiring on Oct. 30, 2020. The company intends to use the proceeds of the offering for working capital and general corporate purposes.

About California Gold Mining Inc.

California Gold Mining is focused on the continued development of a high-quality gold resource on its 100-per-cent-owned Fremont property in Mariposa county, California.

We seek Safe Harbor.