Columbus Gold Corporation
TSX VENTURE : CGT

Columbus Gold Corporation

November 23, 2010 09:03 ET

Columbus Gold Announces Acquisition of New Gold Project in Battle Mountain Gold Trend, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2010) - Columbus Gold Corporation (TSX VENTURE:CGT) (the "Company" or "Columbus Gold") is pleased to announce that its ongoing prospecting program has resulted in the acquisition of the Browns Canyon property, another highly prospective gold property in Nevada, bringing its total gold property portfolio to 23 projects. A property location map can be viewed at the following link:

http://www.columbusgoldcorp.com/i/nr/2010-11-23-map-bc.gif

The Browns Canyon Project is located approximately 20 km (12 miles) west of Barrick Gold's Archimedes open pit gold mine, in the highly prospective Battle Mountain Gold Trend known to contain over 100 million ounces of Gold with some two dozen gold mines throughout the trend.

Recent sampling on the property yielded gold values up to 3 g/t along a zone of silicification, sparsely exposed through cover, with a strike length of 2,000 meters. The mineralization is Carlin-style, hosted in Devonian and Mississippian limestones, shales and siltstones. Geologic mapping and further sampling is underway. Seven widely-spaced historic drill holes are present. Most of the strike length of the mineralized zone is untested by drilling. Drilling is warranted by the results to date and is planned for mid-2011.

ABOUT COLUMBUS GOLD

Columbus Gold Corporation is a gold exploration company pursuing early to advanced stage opportunities primarily in Nevada. The Company is an experienced project generator focused on advancing projects either through joint venture with industry partners or on its own where exploration risk is minimized and potential is particularly promising. Exploration and generative activities are managed by Cordilleran Exploration Company owned and operated by Andy Wallace who has a long and successful history of gold discovery and mine development in Nevada. The Company currently has 12 of its 23 projects joint ventured to major and junior mining companies, including Agnico-Eagle Mines Limited.

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 VP of Columbus Gold's wholly-owned US operating subsidiary, Columbus Gold (U.S.) Corporation and is the principal of Cordilleran Exploration Company ("Cordex"), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.

ON BEHALF OF THE BOARD,

Peter Kendrick, President

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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