SCHEDULE
14A
(Rule
14a-101)
INFORMATION
REQUIRED IN PROXY STATEMENT
SCHEDULE
14A INFORMATION
Proxy
Statement Pursuant to Section 14(a)
of
the
Securities Exchange Act of 1934
Filed
by
the Registrant x
Filed
by
a Party other than the Registrant o
Check
the
appropriate box:
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o
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Preliminary
Proxy Statement
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o
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Confidential,
for Use of the Commission Only (as Permitted by Rule
14a-6(e)(2))
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o
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Definitive
Proxy Statement
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x
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Definitive
Additional Materials
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o
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Solicitation
Material Pursuant to Rule 14a-11(c) or rule
14a-12
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Capital
Gold Corporation
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(Name
of Registrant as Specified in its
Charter)
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(Name
of
Person(s) Filing Proxy Statement, if Other Than the
Registrant)
Payment
of Filing Fee (Check the appropriate box):
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x
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No
fee required.
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o
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Fee
computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
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1)
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Title
of each class of securities to which transaction applies:
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2)
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Aggregate
number of securities to which transaction applies:
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3)
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Per
unit price or other underlying value of transaction computed pursuant
to
Exchange Act Rule 0-11 (Set forth the amount on which the filing
fee is
calculated and state how it was determined):
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4)
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Proposed
maximum aggregate value of transaction:
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5)
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Total
fee paid:
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o
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Fee
paid previously with preliminary
materials.
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o
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Check
box if any part of the fee is offset as provided by Exchange Act
Rule
0-11(a)(2) and identify the filing for which the offsetting fee was
paid
previously. Identify the previous filing by registration statement
number,
or the Form or Schedule and the date of its
filing.
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(1)
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Amount
Previously Paid:
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(2)
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Form,
Schedule or Registration Statement No.:
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(3)
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Filing
Party:
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(4)
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Date
Filed:
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FOR
IMMEDIATE RELEASE
CAPITAL
GOLD CORPORATION RELEASES STATEMENT
CLARIFYING
PROXY PROPOSAL
New
York,
January 22, 2008 - Capital Gold (TSX:CGC; OTC/BB:CGLD) released a statement
today regarding the current proxy statement, specifically referencing proposal
no. 4.
It
has
come to attention of Capital Gold Corporation that there is misinformation
and a
general misunderstanding about proposal no. 4 to be voted on at the Company's
annual stockholders' meeting this coming Thursday. That proposal is to amend
the
Company's certificate of incorporation to permit stockholder action to be taken
only at a duly called annual or special meeting of stockholders and eliminate
stockholder action by written consent.
If
this
proposal is passed, it will not, as some people believe, eliminate stockholders'
right to vote by proxy and require stockholders to physically show up at
stockholders' meetings. Stockholders would still have the right to vote at
any
meeting of stockholders by submitting a written proxy.
We
urge
all stockholders who have yet to vote, to do so today. If you have any
questions, please call MacKenzie Partners, Inc. at 1-800 322-2885.
About
Capital Gold
Capital
Gold Corporation (CGLD:CGC) is a gold production and exploration company.
Through its Mexican subsidiaries and affiliates, it owns 100% of the El Chanate
gold property in Sonora, Mexico. The proven and probable reserve is now 832,000
ounces of gold. Further information about Capital Gold and the El Chanate Gold
Mine is available on the Company’s website, www.capitalgoldcorp.com.
###
Statements
in this press release, other than statements of historical information, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that forward-looking
statements are inherently uncertain. Actual performance and results may differ
materially from those projected or suggested due to certain risks and
uncertainties, some of which are described below. Such forward-looking
statements include comments regarding the establishment and estimates of mineral
reserves and non-reserve mineralized material, future increases in mineral
reserves, the recovery of any mineral reserves, grade, processing rates and
capacity, estimated future gold production, potential mine life and future
growth of the company. Factors that could cause actual results to differ
materially include timing of and unexpected events during construction,
expansion and start-up; variations in ore grade, tonnes mined, crushed or
milled; delay or failure to receive board or government approvals; the
availability of adequate water supplies; mining or processing issues, and
fluctuations in gold price and costs. There can be no assurance that future
developments affecting the Company will be those anticipated by
management.
2
Any
forecasts contained in this press release constitute management’s current
estimates, as of the date of this press release, with respect to the matters
covered thereby. We expect that these estimates will change as new information
is received and that actual results will vary from these estimates, possibly
by
material amounts. While we may elect to update these estimates at any time,
we
do not undertake to update any estimate at any particular time or in response
to
any particular event. Investors and others should not assume that any forecasts
in this press release represent management’s estimate as of any date other than
the date of this press release. Additional information concerning certain risks
and uncertainties that could cause actual, results to differ materially from
that projected or suggested is contained in the Company’s filings with the
Securities and Exchange Commission (SEC) over the past 12 months, copies of
which are available from the SEC or may be obtained upon request from the
Company.
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Contact:
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Jeff
Pritchard, VP-Investor Relations
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Tel:
(212) 344-2785
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Capital
Gold Corporation
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Fax:
(212) 344-4537
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Email:
pritchard@capitalgoldcorp.com
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Media
Inquiries
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Victor
Webb/Madlene Olson
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Tel:
(212) 684-6601
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Marston
Webb International
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Fax:
(212) 725-4709
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Email: marwebint@cs.com
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Investor
Relations in Canada
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Robin
Cook, Account Manager
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Tel:
(416) 868-1079
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CHF
Investor Relations
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Fax:
(416) 868-6198
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Email:
robin@chfir.com
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