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Awakening Project





The Awakening Property consists of 140 mineral claims, covering approximately 2,893 acres, located 45 miles (72 km) north-northwest of Winnemucca, Nevada. Subject to net smelter returns royalties, Columbus Gold controls a 100% interest in the property.

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 in June 2008.

Results from the six holes drilled in January 2008 are as follows:

Drill hole

Depth

Depth

Orientation

From

To

Interval

From

To

Interval

Au

 

(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

*Hole bottoms in subgrade but highly anomalous values.

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

*Hole bottoms in subgrade but highly anomalous values.

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

APB

80

24.4

Angle hole

65

75

10

19.8

22.9

3.0

0.75

ABZ

170

51.8

Angle hole

155

160

5

47.3

48.8

1.5

2.44

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

 


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