Columbus Silver Drilling Update, Mogollon Silver-Gold Project, New Mexico

VANCOUVER, BC - Columbus Silver Corporation reported drilling progress from its 100% controlled Mogollon silver-gold project, Catron County, New Mexico.The Mogollon Project covers most of an extensive, silver-gold bearing epithermal vein field totaling more than 45 miles (72 km) of strike length of which only 3 miles (4.8 km) have been developed. The current drilling campaign consists of approximately 7,500-8,000 ft (2,286-2,438 m) in up to 14 diamond core holes and is designed to test the east-west trending Anna E and Independence-Ida May veins. There are two sets of veins at Mogollon which account for the majority of historical production, a north-south set represented by the Queen vein, hosting the former Consolidated Mine, and an east-west set represented by the Little Fanney and Last Chance veins, hosting former mines by the same name.Historical recorded production from these veins between 1905 and 1942 is reported to total 15,700,000 ounces silver and 327,000 ounces gold from approximately 1.7 million tons (1.5 million tonnes) of ore averaging 9 opt (308 g/t) silver and 0.18 opt (6.17 g/t) gold. The only drilling known to be carried-out in the Mogollon district occurred between 1981 and 1989 and was successful in outlining a partially delineated silver-gold deposit at the former Consolidated Mine in the Queen vein containing an historical resource of approximately 845,000 tons (767,000 tonnes) averaging 9.35 opt (320 g/t) silver and 0.15 opt (5.1 g/t) gold. There are dozens of mineralized and potentially mineralized veins at Mogollon that have never been drill tested providing potential for considerable resource expansion.The principal aim of the current drilling program is to test new veins, the Anna E and Independence-Ida May veins which have near-surface characteristics similar to the past producing Little Fanney and Last Chance veins but have only been explored by shallow workings or have had either limited or no drilling. In the current program, three holes were drilled at the Anna E vein and attempted to extend the significant mineralization drilled in 1984 {best assay 5 ft of 0.415 opt (14.2 g/t) gold and 15.49 opt (530 g/t) silver} for an additional 200 ft down the dip of the structure.These holes were not successful.Fifty feet wide zones of quartz, calcite, and fluorite veining were cut below the previous drill holes but initial assays show only anomalous gold and silver (best assay 4.5 ft of 0.019 opt (0.66 g/t) gold and trace values of silver). The Anna E vein remains open on strike, and the best values seem to be confined to a zone from near the surface down to about 250 ft of depth. The company's address is Suite 307, 475 Howe Street, Vancouver, BC V6C 2B3, 604-634-0970, fax: 604-634-0971, email: [email protected].