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PRESS RELEASE

FOR IMMEDIATE RELEASE

30th April, 2009

Citigold announces Successful Capital Raise and releases Quarterly Report

Citigold Corporation Limited (Citigold) (ASX:CTO, NASDAQ Dubai:CTO, FSE:CHP) is pleased to detail further advances made for the quarter ended 31 March 2009 in mine operations at the Charters Towers Gold Project. The highlights for the Quarter include:

Capital works expansion reaches new mining area - WS19
25,000 ounce gold production plan for calendar 2009
Annualised production rate of 60,000 ounces by late 2009.
Gold production 2,522 oz
Mine planning drilling continues to define high grade areas
Gold nugget found on surface near Warrior
Average revenue per ounce up 14% to $1,356
Cash cost of production steady at $488 per oz
Capital raising of A$5,764,200 completed in April

This was a successful quarter with the next mining panel of 18,000 ounces drilled and now ready to be developed. This mining area is adjacent to the main underground decline. Gold production of 25,000 ounces in calendar 2009 is planned. To view the full release or for more information please

Click here or visit our website at www.citigold.com .

Kind regards Mark J Lynch
Managing Director
Citigold Corporation Limited
www.barratech.com

For the full report please visit

Disclaimer :
NASDAQ Dubai is not responsible for the content of issuer disclosures.

NOTES FOR THE EDITOR:

About MAC Capital Limited.

MAC Capital Limited is regulated by the Dubai Financial Services Authority and is a member of the DIFX. The group’s shareholders include international stock brokers, investment banks and private banks, including:

- Tolhurst Group Limited                            Australia
- Quam Securities Co., Ltd.                       Hong Kong
- Killik & Co.                                                 United Kingdom
- Syrus Securities Plc.                                Thailand
- Banque Morval                                          Switzerland
- Capital Partners Securities Co., Ltd.    Japan
- Lloyd Edward-Jones                                France

and a number of prominent international businessmen. Its website is www.maccapital.ae

In Dubai, its affiliate MAC Sharaf Securities (U.A.E.) LLC, is a fully licenced stock broker on the Dubai Financial Market (“DFM”) and the Abu Dhabi Securities Exchange (“ADX”) and its Dubai-based partners are the Sharaf Group and Major General Mohammed Abdul Rahim Al Ali.