Columbus Intersects 2.42 g/t Gold Over 13.6 Meters  

VANCOUVER, BC - Columbus Gold Corporation reported the completion of Phase 1 drilling at the Eastside Gold Project, Nevada, where twelve holes totaling 7,405 feet were completed. The best result was in drill hole ES-4 which intersected 13.6 meters of 2.42 g/t Au at a depth of 157.6-171.2 m (45 feet of 0.070 opt Au from 520-565 feet), including 6 meters of 5.17 g/t from 165.2-171.2 (20 feet of 0.151 opt from 545-565 feet) and 1.5 meters of 12.90 g/t from 166.7-168.2 m (5 feet of 0.337 opt from 550-555 feet). The gold zone drilled in hole ES-4 is interpreted to be open in all directions.

The company has added thirty new claims to the north in order to cover possible strike extensions and is proceeding with a detailed mapping program in the area of ES-4, which will likely be followed with supplemental geophysical surveys. Subsequently, a Phase 2 drilling program will commence concentrating on extending the gold mineralization cut in ES-4, and also testing the undrilled margins of other rhyolite domes on the property.

Gold mineralization at the Eastside Project is localized in quartz veins and stockworks associated with a group of four separate rhyolite flow-dome complexes, each ranging from 400 to 700 meters in diameter. Gold is hosted both in the rhyolite and in the adjacent wall rocks, which consist of layers of Tertiary andesitic tuffs, andesitic lahars, and felsic tuffs and tuff breccias. The rhyolite itself, particularly where intrusive, is highly anomalous in gold. For example, drill hole ES-4 cut 400 feet of highly anomalous rhyolite (+100 ppb gold on average, ranging from 45-286 ppb Au over the entire 400 feet) before striking the best grades, reported above, in the adjacent andesitic tuffs. The company's address is Suite 307, 475 Howe Street, Vancouver, BC V6C 2B3, 604-634-0970, fax: 604-634-0971, email: [email protected].