Summary of CAPITAL GOLD CORP

Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

At the recommendation of the Compensation Committee and upon approval by the Board of Directors, on July 23, 2009, Capital Gold Corporation's (the "Company") executive officers were awarded cash bonuses as follows:

Executive Officer    Cash Bonus

Gifford Dieterle    $    187,500
John Brownlie       $    187,500
Jeff Pritchard      $    168,750
Chris Chipman       $    168,750
Scott Hazlitt       $     75,000

In addition, at the recommendation of the Compensation Committee and upon approval by the Board of Directors, on July 23, 2009, the Company amended the 2006 Equity Incentive Plan to provide for cashless exercises of options by participants under the Plan (the "Amendment"). A copy of the Amendment is attached hereto as Exhibit 10.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibits

10.1 Amendment 2009-1 to 2006 Equity Incentive Plan