Initial Results of Phase II Drilling At 5.4 Million Ounce Montagne d'Or Gold Deposit

VANCOUVER - Columbus Gold Corporation reported on the progress of the Phase II diamond drilling campaign currently underway at its 5.37 million ounce Montagne d'Or Inferred gold deposit, Paul Isnard Project, French Guiana.

Drilling commenced in late November 2013 with one drill rig operating on one 12-hour work shift per day. Operations were suspended for the Christmas holidays and resumed in early January on a 24-hour continuous basis with two 12-hour shifts daily. Thirty-five (35) drill holes have been completed to date, for a total of 4,126 meters. A contract has been signed for a second drill rig, which is expected to arrive on site in May, with the aim of completing the 26,600-meter, 135 hole program by late summer, with two drills operating on a 24-hour basis.

The holes drilled to date in the current program are short holes at the northern base of the Montagne d'Or deposit, designed to test the near surface projection of the secondary Lower Favorable Zone (LFZ) and Footwall Zone (FWZ). Some of the holes were collared into the principal Upper Felsic Zone (UFZ) to reach the LFZ. Gold assay results have been received for the first 12 holes. All holes intersected sulphide-gold mineralized intervals.