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2 mai 2008
Columbus Gold Acquires The Awakening Nevada Gold Property; Drilling Permitted

Vancouver, British Columbia, Canada. May 2nd, 2008. Columbus Gold Corporation (CGT: TSX-V) ("Columbus Gold" or the "Company") is pleased to announce that the Company has entered into an agreement (the "Agreement") to lease the Awakening gold property (the "Property") located 45 miles (72 km) north-northwest of Winnemucca, Nevada.

The Awakening District produced 26,262 ounces of gold from 1914-1963, largely from the Jumbo Mine. Gold mineralization on the east side of the district occurs with narrow quartz veins cutting Mesozoic shale and sandstone. The mines on the east side of the district are best known for small but often very high-grade "pockets" of gold ore; recent drilling however has identified a new type of discovery in the district with broad zones of low grade mineralization in quartz stockworks, potentially minable by open pit.

The Property was recently explored with a series of excavator trenches followed by the drilling of six rotary holes in January 2008 as reported below. Columbus confirmed the drill results by re-logging the drill holes and verifying the assay results, by both the duplicate assaying of pulps and also by assaying separate splits of cuttings taken at the rig. In addition, preliminary metallic screen assaying of cuttings, available from only one hole (ABZN), indicates the potential to significantly upgrade gold values in both high and low grade samples. Metallic screen assaying of the other holes is in progress.

The Awakening Property is centered in an area of considerable exploration. XCal is drilling at the Sleeper Mine to the northwest; Evolving Gold is planning a drill program to the west; and Newmont is earning into Fronteer's Sandman Project to the east-southeast.

Columbus Gold has 24 drill sites permitted and bonded. A geologic mapping and geophysical program is in progress. Drilling by Columbus is expected to start within six weeks, depending on drill availability.

Results from the six holes drilled in January are as follows:

Drill

Depth

Depth

Orientation

From

To

Interval

From

To

Interval

Au

hole

(ft)

(m)

 

(ft)

(ft)

(ft)

(m)

(m)

(m)

(g/t)

ABZD

540*

164.6

Vertical Hole

90

120

30

27.4

36.6

9.1

1.04

 

 

 

 

170

230

60

51.8

70.1

18.3

0.37

 

 

 

 

240

250

10

73.2

76.2

3.0

1.06

 

 

 

 

250

275

25

76.2

83.8

7.6

0.54

 

 

 

 

365

420

55

111.3

128.0

16.8

1.68

 

 

 

 

420

435

15

128.0

132.6

4.6

0.42

 

 

 

 

500

515

15

152.4

157.0

4.6

0.39

 

 

 

 

530

540

10

161.6

164.6

3.0

0.39

ABV

330*

100.6

Angle hole

145

180

35

44.2

54.9

10.7

1.45

 

 

 

 

195

240

45

59.5

73.2

13.7

0.70

 

 

 

 

305

315

10

93.0

96.0

3.0

0.35

ABZN

220

67.1

Vertical Hole

95

100

5

29.0

30.5

1.5

24.1

 

 

 

 

175

180

5

53.4

54.9

1.5

0.50

 

 

 

 

190

195

5

57.9

59.5

1.5

3.31

AMB

180

54.9

Vertical Hole

5

10

5

1.5

3.0

1.5

0.44

 

 

 

 

30

35

5

9.1

10.7

1.5

0.90

 

 

 

 

65

70

5

19.8

21.3

1.5

0.43

 

 

 

 

105

115

10

32.0

35.1

3.0

0.50

 

 

 

 

130

135

5

39.6

41.2

1.5

1.22

ABZ

170

51.8

Angle hole

155

160

5

47.3

48.8

1.5

2.44

APB

80

24.4

Angle hole

65

75

10

19.8

22.9

3.0

0.75

*Hole bottoms in subgrade but highly anomalous values.

Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical contents of this news release. Mr. Wallace is a partner of Cordilleran Exploration Company ("Cordex"), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.

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 24 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 major and junior mining companies.


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
 

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