Citigold Corporation Limited updated quantification of the gold Resources and reserves of the Charters Towers Gold Project. The company has a robust geological model that has been predicted and then tested by diamond-core drilling down to 2,000 meters vertical depth. Intersections into known quartz reefs have hit the predicted position within one meter at depths of up to 1,500 meters downhole. Over 350,000 meters of drilling have been conducted in 3,200 holes on down-dip and strike extensions of known reef systems, with 1,550 significant drill intersections. Summary: The Probable Ore Reserves at a 4 grams per tonne Au grade cut-off are: 2,500,000 tonnes at 7.7 grams per tonne gold containing 620,000 ounces (19,000 kilograms) of gold. The Probable Ore Reserve is derived from and contained within, and is not additional to, the Indicated Mineral Resource. The Indicated Mineral Resource is 3,200,000 tonnes at 7.7 grams per tonne gold, containing 780,000 ounces of gold. The Inferred Mineral Resources at a 3 grams per tonne Au grade cut-off are: 32 million tonnes at 14 grams of gold per tonne, containing 14 million ounces of gold, using a cut-off grade of 3 grams of gold per tonne of mineralized material (grams per tonne Au or g/t Au) over a minimum sample true width of one metre (expressed as 3 metre-grams per tonne Au or 3m-g/t Au).