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California Gold Wholly Owned Subsidiary Announces Markman Hearing in Patent Infringement Lawsuit Against Google

JACKSONVILLE, FL--(Marketwired - Jun 23, 2014) - California Gold Corp.'s (PINKSHEETS: CLGL) wholly-owned subsidiary, Visual Real Estate, Inc., today announced the United States District Court for the Middle District of Florida has established a schedule for the patent claim construction hearing and other case events and deadlines in the Visual Real Estate, Inc. v. Google Inc. (NYSE: GOOG) lawsuit, case number 3:14-cv-00274-TJC-PDB.

The patent claim construction hearing, also called a Markman hearing, is set for April 21, 2015, at which time the judge will hear oral argument regarding the language and scope of the Visual Real Estate patent claims at issue in the case. The hearing is often considered a critical event in a patent lawsuit as it helps resolve disputes concerning the scope of Visual Real Estate's patent claims.

"We are pleased to have received a timetable on our pending litigation against Google," commented William Meadow, Founder and CEO of Visual Real Estate and CEO of California Gold Corp. "As inventor of our location based service and geospatial information technology, I remain passionate about the industry. Our entire team is committed to protecting our intellectual property and look forward to meeting the deadlines and other obligations set out by the Middle District Court of Florida."

The lawsuit claims infringement of three of Visual Real Estate's patents: U.S. Patent number 7,389,181, entitled "Apparatus and Method for Producing Video Drive-By Data Corresponding to a Geographic Location"; U.S. Patent number 7,929,800, entitled "Methods and Apparatus for Generating a Continuum of Image Data"; and U.S. Patent number 8,078,396, entitled "Methods for and Apparatus for Generating a Continuum of Three Dimensional Image Data." Among other things, the complaint identifies Google Street View and Google Earth as infringing Visual Real Estate's patents. Visual Real Estate is represented in the lawsuit by several San Diego and Tampa-based lawyers from DLA Piper, the world's largest multi-national law firm.

Please view the full patent infringement lawsuit complaint against Google Inc. by clicking on http://ir.mvportfolios.com/press-releases/detail/14/visual-real-estate-inc-files-patent-infringement-lawsuit.

About California Gold Corp.: On February 7, 2014, California Gold Corp. completed a securities exchange pursuant to which the members of MVP Portfolio, LLC, a Florida limited liability company ("MVP"), exchanged 100% of the membership interests in MVP for 9,385,000 to-be-issued, post-1 for 100 Reverse Split shares of common stock, $0.001 par value per share, of the Company. As a result of the securities exchange, the Company will continue the existing business operations of MVP. With the acquisition of MVP, the Company will be expanding its business focus on patent licensing and commercialization.

Safe Harbor Statement: This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "anticipate," "plan," "will," "intend," "believe" or "expect'" or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations with respect to our lack of profitable operating history, changes in our business, potential need for additional capital, fluctuations in demand; changes to economic growth in the U.S. economy; and government policies and regulations, including, but not limited to those affecting the Internet, all as set forth in our Annual Report on Form 10-K and most recent Form 10-Q. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of California Gold Corp. and are difficult to predict. California Gold Corp. undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information: Company Contact Shea Ralph Chief Financial Officer PH: (904) 586-8673 Email: Email Contact Or Investor Relations: Valter Pinto Capital Markets Group, LLC PH: (914) 669-0222 or (212) 398-3486 Email: Email Contact