CHGI China Carbon Graphite Group Inc (CE)

Capital Hill Gold, Inc. (OTCBB:CHGI) reports that one of the company's geologists, working several miles to the south of the area where the uranium deposit is being staked by agents for the company, has come across a potential major gold deposit. The area of interest is located north of a past-producing high-grade gold mine, and south of a past-producing uranium mine. Field observations noted extensive silicification and jasperoid outcroppings over a large area. A review of USGS geochemical survey work and privately funded geophysical surveys suggest that the area of interest could host a major gold deposit under alluvial cover. Follow-up work by the company's geologist indicated that major international gold mining company had staked approximately 200 unpatented lode-mining claims in the area during 2001 and 2002. Samples were collected from several outcrops on the property, and have been submitted to American Assay Labs in Elko, Nevada for assaying. Based on positive assay results, target and identification, a major claim-staking program will be launched. Capital Hill Gold's strategic objective is to obtain controlling interests in properties with excellent exploration potential to become economically significant to world-class ore deposits. CHGI intends to acquire mineral exploration properties primarily through the filing of concessions on its own account and in partnership as well as by optioning exceptional properties at reasonable costs relative to the property's potential and the financial capabilities of the company. On behalf of Capital Hill Gold, Inc. Dan Enright, President This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.