Summary Of Work On Eastside Gold Project

 

VANCOUVER, BC - Columbus Gold Corp. provided a summary of the drilling completed to date at its 100% controlled Eastside gold discovery in Nevada. Eastside is a district scale project consisting of 725 claims covering 57.7 sq. km (22.55 sq. miles), in an area of outstanding infrastructure. Significant gold values of up to 27.9 g/t have been obtained in surface sampling at Eastside and so far seven (7) large geochem anomalies have been identified, however drilling to date has been confined almost exclusively to one target (referred to as the Original Target), in an area of only approximately 1,250 X 800 meters, or about 1 sq. km., of the large 57.7 sq. km land package.

Thorough oxidation is remarkably deep at Eastside in certain areas, exceeding 300 meters in places. Preliminary metallurgy (see July 10, 2014 press release) indicates that gold at Eastside is amenable to cyanide leaching, whether oxide or sulfide.

The drilling currently underway at Eastside consists of 4,850 meters (16,000 feet) of diamond core drilling and 9,700 meters (32,000 feet) of RC rotary drilling. Drilling in the program currently in progress, has been widely dispersed throughout the Original Target to gain a better understanding of where to locate the better grades, however recently in May 2016 the program shifted focus to concentrate on: step-outs from Hole ES-96 where in April 2016 Columbus announced 35.1 meters of 4.1 g/t gold (including 19.8 meters of 6.91 g/t gold and 97.3 g/t silver); and steps-outs from Hole ES-80 where in September 2015 Columbus announced 152.4 meters of 0.71g/t gold (including 28.9 meters of 2.16 g/t gold and 2 meters of 10.88 g/t gold).

From 2011 to present, Columbus has drilled 111 holes in five phases, consisting of 28,360 meters (93,588 feet) of RC rotary drilling and 3,076 meters (10,150 feet) of diamond core drilling. Of the 111 holes, 100 intersected significant gold values.