The Board of California Gold Mining Inc. (CNSX:CGM) has created a special committee, comprised of Scott Rasenberg (Chair of the Board), Larry Phillips (Interim President & Chief Executive Officer) and William Tomlinson (Independent Non Executive Director) (the "Special Committee"), to carry out a review process to explore, review and evaluate a broad range of potential alternatives focused on maximizing shareholder value, including a potential sale or merger of the Company, a disposition of the mining exploration assets owned by the Company and a general review of the Hemp Business. The Special Committee will also be considering financing alternatives available to the Company due to limited capital resources and, as is discussed in further detail below, the inability to realize revenue from the isolate inventory held as part of the Hemp Business. There can be no assurance that this process will result in a transaction. The Company has not made any decisions related to strategic alternatives regarding the mining assets of the Company at this time, and there can be no assurance that the evaluation of alternatives will result in any transaction or change in strategy.