Drilling Commences At Stevens Basin Project 

VANCOUVER, BC - Columbus Gold Corporation reported that partner Navaho Gold Ltd., has commenced drilling at Columbus Gold's Stevens Basin gold project located in Eureka Mining District of the Battle Mountain Gold Trend, Nevada. Navaho Gold can earn an initial 51% interest in Stevens Basin over a 3 year period by incurring exploration expenditures of $3 million and making cash and share payments to Columbus Gold.

The drill program is designed to commence testing surface gold mineralization defined by widespread gold in rock-chips (ranging up to 2.5 g/t) and a 760 metre long (2,500 feet), open-ended soil anomaly. The strong tenor of the geochemical anomaly and its trend, coincident with potential major structural features, make it a compelling prospect. A ground gravity survey and acquisition of airborne magnetic data has enabled a structural interpretation and the optimization and selection of drill sites. Stevens Basin is an unusual gravel-filled semi-circular basin, approximately 10-13 km2 (3.8-5.0 mi2) in area. Surrounding this basin are hills of Palaeozoic sedimentary rocks which, along its northern margin, consist of mainly Devonian limestone containing areas of altered and mineralized intrusive rock and siltstone float. The company's address is Suite 307, 475 Howe Street, Vancouver, BC V6C 2B3, 604-634-0970, fax: 604-634-0971, email: [email protected].