Columbus Gold Corporation is happy to announce start of a Phase III drilling program at its Bolo gold project, located in, Nevada. Subject to underlying royalties, Bolo is 100% controlled by Columbus Gold. The present Phase III drilling program, consist of 914 meters in five angle, rotary drill holes, is designed to test for extensions of vital gold mineralization cut by rotary drill hole BL-23.

Gold mineralization at Bolo occur along and neighboring to two principal north-trending faults, known as the Mine and East fault, traceable for 4,878 m within the project area. BL-23 was drill at 45 degrees, basically perpendicular to the Mine Fault Zone, as determined by mapping, and encounter gold mineralization about 60 m upright below the surface. Outcrop sampling at, and close to, the Mine Fault Zone, up-dip above BL-23, shaped 28 samples grading from 1 to 5.18 gpt gold. The gold mineralization is classified as Carlin-type, like to many other significant gold deposits in Nevada.

Mr. Wallace is a VP of Columbus Gold's wholly own US operating subsidiary, Columbus Gold Corporation and a associate of Cordilleran exploration company, which is conducting examination and project production activities for Columbus on an exclusive basis.