Columbus Exploration Corporation
TSX VENTURE : CLX

Columbus Exploration Corporation

April 19, 2013 09:00 ET

Columbus Exploration Terminates Option with Columbus Gold; Appoints New Director to the Board

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 19, 2013) - Columbus Exploration Corporation ("Columbus Exploration") (TSX VENTURE:CLX) (formerly Columbus Silver Corporation CSC: TSX-V) announces that it has terminated the option agreement with Columbus Gold Corp. previously announced on December 14, 2012 (the "Agreement"). The Agreement was subject to a number of conditions to be satisfied on or before June 30, 2013; due to increasingly volatile market conditions since executing the Agreement, Columbus Exploration's Board has determined that certain of these conditions, principally fundraising, are unlikely to be fulfilled in a timely fashion and has therefore decided to terminate.

Columbus Exploration will resume trading on the TSX Venture Exchange under the symbol CLX in due course.

Mr. Jim Greig, who was nominated to Columbus Exploration's Board as an independent director to assist with the Agreement, has accordingly stepped down from the Board. Mr. Joel Schuster, the Corporate Secretary and VP Legal of Columbus Exploration, has agreed to join the Board effective immediately. Mr. Schuster brings with him over a decade of experience in the legal sector working with public mining companies Columbus Exploration wishes Mr. Greig every success in the future and thanks him for his service to the company during this process.

ON BEHALF OF THE BOARD,

Robert F. Giustra, President, CEO, and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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