17 June 2009: Brisbane, Australia – Citigold Corporation Limited (Citigold) ( ASX:CTO, NASDAQ Dubai:CTO, FSE:CHP ) is pleased to announce that the recent shareholder Share Purchase Plan (Plan) has closed with a record number of applications and amount raised.  The funds raised were 180% of the Company’s internal budget, raising A$9.5 million from over 2,300 shareholders.  This is the Company’s most successful Plan to date.

A total of 62,783,438 ordinary shares (including 2,989,688 bonus shares) were subscribed for. The Directors thank shareholders for their participation. The Company also accepted a small private placement of A$1,850,000 on the same terms as the Plan for a total of 12,140,625 shares. The overall capital raising was A$11.4 million.  This is an excellent result and will allow Citigold to push ahead and grow the business with strength.

Mr Mark Lynch, the Managing Director said: "The Company is extremely pleased with the interest shown by shareholders in the share Plan, and I believe this interest reflects a broad confidence in Citigold’s management and its strategy for the Company’s growing Charters Towers gold operations".

The Director’s have allotted the shares and statements of holdings will be forwarded by Computershare Registry Services in due course.

For further information please contact
    
Matthew Martin
Company Secretary                        

Citigold Corporation Limited : telephone +61 7 3834 0000  
Or visit the Company's web site at :  www.citigold.com

STRATEGIC BUSINESS SUMMARY
Citigold Corporation is a gold producer controlling Australia's richest major goldfield at ChartersTowers in North Queensland. The high-grade deposit contains a gold resource of 10 million ozs (23 Mt @ 14 g/t) with exceptional growth potential.  Gold output targets growing to 300,000 ozs per year with gold production cash costs under A$350 per oz.         
(See   www.citigold.com for full resources report)    

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