Two Additional Targets At Eastside Gold Project

VANCOUVER, BC - Columbus Gold Corporation reported on activity at its 100%-owned Eastside Gold Project in Nevada.

Columbus Gold, along with its environmental consultant Stantec, submitted the Eastside Environmental Assessment (EA) to the United States Bureau of Land Management (BLM) on March 6, 2015. The BLM is currently reviewing the EA and it is anticipated that it will be made available for public comment in April 2015. The operating area being permitted for 2015 and 2016 drilling totals 248 hectares (615 acres) and includes construction of 18 km (11 mi) of new drill roads and 175-200 dedicated drill pads suitable for drilling of multiple holes from each drill pad. In practice, if additional road building and drilling in the operating area becomes necessary during the course of exploration, it can be quickly modified, as the entire operating area will have been cleared by the EA. Columbus anticipates final permits in the second quarter of 2015 and drilling to begin in the same quarter.

The total planned size of the drill program is 64,000 m (~210,500 ft) in 250 holes; Columbus is aiming to drill 45,000 m (~147,500 ft) in 185 holes by the end of 2015. Drilling is anticipated to commence in May/June 2015, initially with 2 drills and increasing to 3 drills in Q4 2015. The purpose of the drilling is to extend the area of known gold mineralization in the Original Target, and to infill gaps between widely spaced existing drill holes containing significant gold. The 2015 drilling will also test New Targets 4 and 6, and the northern half of New Target 1.

Sampling and mapping in late 2014 and early 2015 have developed two additional areas of interest (New Target 6 and New Target 7). Fifty samples of hydrothermally altered rock in New Target 6 contain traces of gold and silver, and very high values in pathfinder trace elements of arsenic (ranging from 30 to greater than 20,000 ppm As), and antimony (ranging from anomalous to 330 ppm Sb). The position of the New Target 6 geochemical anomaly, continuing immediately to the north along the strike of the Original Target, makes it a priority target for drilling. The hydrothermal alteration and anomalous geochemistry centered on the Original Target (when one also includes New Targets 1, 2, 4, and 6) is impressive with a current size of ~3.5 km long by ~1.5 km wide (~11,500 ft by ~5,000 ft).

Columbus' land position at Eastside was recently expanded from 607 to 725 BLM claims, and now totals ~5,870 hectares (14,500 acres) or 58.7 km2 (22.6 mi2). The new staking, both on the north and the south, was positioned to cover New Target 6 and New Target 7, and the pediment area of shallow gravel cover between New Targets 5 and 7. The claim block covers all rhyolite flow dome complexes with associated hydrothermal alteration, and any other nearby target, regardless of host rock, with significant gold values in surface sampling.

The Original Target at Eastside hosts a large area of shallow oxide gold mineralization still open to the south that measures about 1,600 m long and up to 600 m wide (5,280 ft by 1,980 ft).

The project has gold infrastructure for mining and processing; is 32 km (20 mi) west of Tonopah, Nevada, and lies 9.7 km (6 mi) north of paved highway US 95, the main road route from Las Vegas to Reno. A good gravel road from the highway, along with a major power transmission line both pass through the claim block. The current drilling area is on the east flank of the Monte Cristo Range and a portion of the claim block extends well into the adjacent flats, which would provide excellent operating sites. The valley is known to have shallow water available in the same aquifer, which provided water for milling the Tonopah ores in the early 1900's. The area is high desert with sparse vegetation, and year-round drilling is possible.