Capital Gold Announces Reverse Stock Split/Applies for Listing on NYSE Amex

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	    NEW YORK, Jan. 25 /CNW/ -- Capital Gold Corporation (TSX: CGC; OTC
Bulletin Board: CGLD) announced today that it has applied for the listing of
its common stock on the NYSE AMEX.

	    The Company also announced that, to meet minimum share price requirements
in connection with its NYSE AMEX listing application, it has today effected a
reverse stock split, with every four (4) shares of common stock of the Company
issued and outstanding being converted into one (1) share of common stock. The
shares will commence trading today on the OTC Bulletin Board and the Toronto
Stock Exchange on a post-reverse split basis. The reverse split was originally
approved by shareholders at the Annual Shareholders Meeting held on October
31, 2008 and subsequently ratified by shareholders at the recent Annual
Shareholders Meeting held on January 19, 2010. No fractional common shares
will be issued in connection with the reverse split. A holder of common
shares, who otherwise would have been entitled to receive a fractional share
as a result of the reverse split, will receive an amount in cash equal to
US$0.79 (the closing trading price on January 22, 2010) multiplied by such
fractional entitlement. Letters of transmittal have been sent to registered
shareholders to effect the exchange of their certificates representing
pre-reverse split shares for new certificates representing post-reverse split
shares. Shareholders owning shares via a broker or other nominee will have
their positions automatically adjusted and will not be required to take any
action in connection with the reverse split.

	    "We are pleased to be applying for this stock listing to move from the
OTC Bulletin Board to the NYSE AMEX," said Gifford Dieterle, Chairman and
Chief Executive Officer of Capital Gold. "This application for listing marks
an important strategic step with regard to raising our profile as a gold
production and exploration company, and improving our stock's liquidity as we
continue to make progress on achieving our corporate objectives."

	    John Brownlie, the Company's President and Chief Operating Officer,
commented: "It is an important milestone to have applied for a listing on the
NYSE AMEX. We believe that NYSE AMEX provides excellent exposure for gold
production and exploration companies, such as ours. This advancement
underscores our commitment to generating long-term value for our
shareholders."

	    "The timing to initiate the reverse split and the AMEX application was
carefully considered in conjunction with the recent upswing in the gold price
cycle. We at the Company believe we initiated the process at the appropriate
time for our shareholders and it is in the best interest of our stockholders
and the future growth of the Company," Brownlie added.
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	    About Capital Gold
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	    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 mine located near the town of Caborca in Sonora, Mexico. It
also owns and leases mineral concessions near the town of Saric, also in
Sonora, that are undergoing preliminary exploration for gold and silver
mineralization. Additional 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
forwardlooking 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
forwardlooking statements include comments regarding effect of the reverse
split, a national stock exchange listing, plant upgrades, operating
efficiency, estimated future gold production 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, strip ratio, tonnes mined, crushed or milled; delay or failure
to receive board, national exchange 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.

	    Any forecasts contained in this press release constitute management's
current estimates, as of the ate 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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	    /For further information: Kelly Cody, Investor Relations Manager, Capital
Gold Corporation, +1-212-344-2785, Fax: +1-212-344-4537,
[email protected]; or for Media Inquiries: Victor Webb or Madlene
Olson, both of Marston Webb International, +1-212-684-6601, Fax
+1-212-725-4709, [email protected] Web Site: http://www.capitalgoldcorp.com/