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14 mars 2008
Columbus Gold Corporation Announces Closing Of Financing

Vancouver, British Columbia, Canada. March 14, 2008. Columbus Gold Corporation (CGT: TSX-V) ("Columbus Gold" or the "Company") is pleased to announce that it has closed a non-brokered private placement previously announced on March 7, 2008. The Company has raised an aggregate total of $640,000 through the issuance of 800,000 common shares. Each unit was sold at a price of 80 cents per common share. Each unit consists of one half share purchase warrant, with each whole warrant entitling the holder thereof to purchase one common share of the Company at a price of 90 cents at any time prior to September 12, 2009. All securities are subject to a four month hold period and will expire July 13, 2008.

The proceeds of the private placement coupled with the Company's current treasury totals $2,710,000, which will enable Columbus Gold to meet its projected exploration and working capital requirements through the end of 2009.

ABOUT COLUMBUS GOLD

Columbus Gold Corporation is a gold exploration and development company operating principally in Nevada. The Company has an experienced management group with a strong background in all aspects of the acquisition, exploration, development and financing of precious metal mining projects. Columbus controls a 100% interest, subject to royalties, in 23 gold projects strategically located along or near Nevada's most productive gold trends and 5 silver and copper projects located in Arizona and Utah. The Company's project activities are managed by Cordilleran Exploration Company ("Cordex"), owned and operated by John Livermore and Andy Wallace who have a long and successful history of gold discovery and mine development in Nevada.

The Company maintains active generative (prospecting) and evaluation programs and, as a key element of strategy, broadens exposure, minimizes risk and maintains focus on high priority prospects while seeking industry finance through joint ventures on selected projects. The Company currently has 14 of its projects joint ventured to industry partners which include Barrick Gold, Newmont Mining and Agnico Eagle Mines.


ON BEHALF OF THE BOARD,
Robert F. Giustra
President & CEO, Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information contact:

Ray Lagace
Investor Relations
604-638-3474
info@columbusgoldcorp.com
COLUMBUS GOLD CORPORATION
Suite 910 - 475 Howe Street
Vancouver, B.C. V6C 2B3
Tel: 604.689.2599 Fax: 604.689.3609
Toll Free: 1-866-689-2599
www.columbusgoldcorp.com
info@columbusgoldcorp.com
 

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