AMENDMENT TO PROMISSORY NOTES

WHEREAS, California Gold Corp., a Nevada corporation (the “Obligor”), issued
those Promissory Notes (the “Notes”) listed on the attached Schedule A to
____________ (the “Payee”); and

WHEREAS, the Obligor and the Payee wish to amend the Notes to require their
mandatory conversion, without interest, at a conversion price of $0.025 per
share (the “Conversion Price”) upon the initial closing of the private placement
offering (the “PPO”) in which the Obligor is currently engaged.

NOW, THEREFORE, in consideration of the mutual promises set forth herein and for
other valuable consideration the receipt of which is hereby acknowledged, the
Obligor and the Payee hereby agree that the unpaid principal balance of the
Notes shall be converted in full upon the initial closing of the PPO at the
Conversion Price.  Additionally, the Payee hereby agrees to waive and forfeit
any and all interest accrued and accruable on the Notes.  All other terms and
conditions of the Notes remain unchanged.

IN WITNESS WHEREOF, this Amendment has been duly executed by the Obligor and
acknowledged by the Payee as of the __ day of October 2010.

 
CALIFORNIA GOLD CORP.
       
By:
  
 
Name:
James Davidson
 
Title:
President, Treasurer, Chief Financial Officer
   
and Director
         
  
   
Payee:

 
 

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Schedule A

 
 

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