Exhibit 99.1

                                  PRESS RELEASE


FOR IMMEDIATE RELEASE


     Capital Gold Receives Commitment Letter From Standard Bank, PLC For a
    $12,000,000 Senior Project Finance Facility for El Chanate Gold Project


NEW YORK, November 15, 2005 - Capital Gold Corporation (OTC/BB:CGLD) is pleased
to announce that it has received a commitment letter from Standard Bank, PLC for
a Senior Project Finance Facility for up to US$12 million for the development of
its El Chanate open-pit gold mining project in Sonora, Mexico.

In making the announcement today, Gifford Dieterle, Chairman of Capital Gold
Corp., said "We are delighted to receive this commitment from Standard Bank.
Their ongoing support of the El Chanate project throughout this past year has
been tremendous, and we look forward to moving the El Chanate project toward
production."

The loan closing is subject to the negotiation, execution, and delivery of
definitive financing documentation, as well as the completion of certain
conditions, including raising the additional funds necessary for construction
and working capital. The loan is anticipated to close in January, 2006.

"This financing package will help transform Capital Gold into a producing mining
company," says Graeme Hutchison, Head of Mining Finance Americas for Standard
Bank. Standard Bank is an international bank with a focus in providing lending
and other services to companies active in the mining industry.

Further information about Capital Gold and the El Chanate project 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, construction cost estimates,
construction completion dates, equipment requirements and costs, production,
production commencement dates, grade, processing capacity, potential mine life,
results of feasibility studies, development, costs and expenditures. 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, tons mined, crushed or milled; delay or failure to receive board or
government approvals; timing and availability of external financing on
acceptable terms for equipment, construction, working capital and other
purposes; the availability of adequate power and water supplies; the
availability of adequate mining equipment; technical, permitting, 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.




The 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.


Contact:
Jeff Pritchard, VP-Corporate Relations                   Tel: (212) 344-2785
Capital Gold Corporation                                 Fax: (212) 344-4537
Email: investorrelations@capitalgoldcorp.com
Website:

Media Inquiries
Victor Webb/Madlene Olson                                Tel: (212) 684-6601
Marston Webb International                               Fax: (212) 725-4709
Email: marwebint@cs.com