5.37 Million Ounce Inferred Gold Resource At Paul Isnard

VANCOUVER, BC - Columbus Gold Corporation reported that the recently completed Phase I drilling at Columbus Gold's Montagne d'Or gold deposit has significantly increased the Inferred gold resource to 5.37 million ounces, representing an increase of 184% from the previous resource estimate. The updated resource estimate was prepared by independent consultants Coffey Mining of Toronto, Ontario. The Montagne d'Or deposit is one of numerous prospects and projects located within the large 149 km2 Paul Isnard property, which is 100% owned and controlled by Columbus Gold.

The Montagne d'Or deposit as delineated to date begins at surface and reaches an average vertical depth of 247 metres from surface. Utilizing a cut-off grade of 0.3 g/t gold yields 117.1 million tonnes at an average grade of 1.43 g/t gold for a total of 5.37 million contained Inferred ounces of gold. For comparison, a significantly higher cut-off grade of 1.0 g/t gold would still yield 58.1 million tonnes at an average grade of 2.22 g/t gold for a total of 4.15 million contained Inferred ounces of gold. See table below for various cut-offs provided.

Robert Giustra, CEO and Chairman of Columbus Gold, commented: "Phase I drilling has clearly demonstrated that the Montagne d'Or gold deposit has both large scale and good grade. Modelling by Coffey has also identified gaps within the deposit envelope where additional drilling has the potential to add ounces and where tighter drilling may upgrade some or all of the Inferred resources to the Indicated category. Additional expansion potential is also suggested by untested geochemical anomalies extending more than three kilometres along strike, by incompletely tested parallel zones of gold mineralization, and at depth. The deposit has potential to grow."