Phase II Drilling Commences at Columbus Gold's Stevens Basin Project 

VANCOUVER, BC - Columbus Gold Corporation reported that Phase II drilling has commenced at its Stevens Basin project, located in the Eureka Mining District on the Battle Mountain Gold Trend, Nevada, about 9 km (5.6 miles) southwest of Barrick Gold's Archimedes/Ruby Hill open pit gold mine, where joint venture partner Navaho Gold, can earn an initial 51% interest by completing minimum exploration expenditures.

Navaho reports that eight to ten RC holes, totaling approximately 1,200 m (3,937 ft), are planned in the current phase of drilling which is designed to follow-up the highly anomalous gold mineralization intersected in hole SB11-009 (15.2 m @ 0.18 g/t from 35 m depth) drilled by Navaho in Phase I drilling in mid-2011. The drilling will also test a further suite of structural features, a magnetic target with features analogous to the Archimedes/Ruby Hill deposit identified from interpretation of gravity data, and, further multi-element soil anomalies defined by sampling completed by Navaho in recent months.

Stevens Basin is an unusual gravel-filled semi-circular basin, approximately 10-13 km2 (6.2-8 miles) in area. Surrounding the basin are hills of Paleozoic sedimentary rocks which, along its northern margin, consist of mainly Devonian age limestone containing areas of altered and mineralized intrusive rock and siltstone float. In the area of drilling the target horizon is a calcareous siltstone unit inferred to dip off the outcropping limestone out under the gravel cover. Based on the conventional model for Carlin-style deposits, mineralization is expected to be best developed where the prospective host unit intersects controlling structures capable of introducing the mineralizing fluids.

The company's address is Suite 307 - 475 Howe Street, Vancouver, BC V6C 2B3, 604-634-0970, fax: 604-634-0971, email: [email protected].