The Awakening Property is located 72 kilometres (45 miles) north-northwest of Winnemucca, Nevada. The property is centered in an area of considerable exploration. XCal has been drilling at the Sleeper Mine to the northwest; Evolving Gold is active to the west; and, Newmont is earning into Fronteer's Sandman Project to the east-southeast. Subject to net smelter returns royalties, Columbus Gold controls a 100% interest in the property.

Geology
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.

Past Work
The Awakening Property was recently explored with a series of excavator trenches followed by the drilling of six rotary holes in January 2008 (see press release of June 25th, 2008 for drilling results). 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 indicated the potential to significantly upgrade gold values in both high and low grade samples.

In the summer of 2008, Columbus completed a 12 hole, 1,910 m (6,265 ft) initial drilling program at Awakening designed to assess the potential of the past drilling results which included a 16.8 m intercept grading 1.48 g/t (55 ft of 0.049 opt) gold. Gold mineralization in the area tested occurred in a 122 m (400 ft) thick bed of gently dipping, Mesozoic sandstone with sheeted quartz veins and stockworks paralleling bedding. The mineralized sandstone was covered by 30-60 m (90-200 ft) of barren shale and was not exposed at surface. Drilling encountered anomalous gold throughout the sandstone with intervals up to 7.6 m averaging 1.3 g/t (25 ft averaging 0.038 opt) gold. Occasional narrow zones of gold mineralization up to 8.7 g/t gold along 1.5 m (0.25 opt over 5 ft) were also encountered. A table with complete drill results can be viewed here:

www.columbusgoldcorp.com/i/pdf/Awakening_Phase_I_Drill_assays_2008.pdf

Planned Program
No further work is planned for the area drilled in the initial program at Awakening. However, district-wide mapping and sampling is continuing and drilling is planned for the Alabama Mine area with recorded production during the 1920's of approximately 13,600 tonnes grading approximately 17 g/t (15,000 tons grading 0.50 opt) gold. The Alabama Mine area forms part of the Awakening Property and contains a series of gently-dipping, stacked quartz veins occurring over a 60-75 m (200-250 ft) thick interval traceable for a strike length of 152 m (500 ft) with individual samples up to 13 g/t gold (0.38 opt). The flat vein set is associated with a zone of more steeply dipping veins traceable for 1,070 m (3,500 ft) with surface samples containing up to 20 g/t gold (0.58 opt).