Columbus Gold Corporation
TSX VENTURE : CGT
OTCQX : CBGDF

Columbus Gold Corporation

December 08, 2015 09:00 ET

France Issues Operating Permit for Gold Cyanide Plant in French Guiana

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 8, 2015) - Columbus Gold Corporation (TSX VENTURE:CGT)(OTCQX:CBGDF) ("Columbus") is pleased to report that the French government has authorized the use of cyanide at a gold mine in French Guiana. Columbus is operating four drill rigs at its 100% owned Montagne d'Or gold deposit, Paul Isnard Project, in French Guiana, with the aim of completing a Feasibility Study by the end of 2016. Nordgold (LSE:NORD LI) is earning a 50.01% interest by funding all expenditures at Montagne d'Or.

Robert Giustra, CEO of Columbus Gold, commented: "The authorization of cyanide use is a clear message from the French Government that it is committed to developing the vast gold potential of French Guiana. It's an essential and very positive development for Columbus, that greatly increases the level of confidence with respect to the development of our Montagne d'Or gold deposit."

ON BEHALF OF THE BOARD,

Robert F. Giustra, Chairman & CEO

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.

This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting Columbus': Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including: the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers and drill equipment; competition for mining properties; risks associated with exploration projects including, without limitation, the accuracy of interpretations; mineral reserve and resource estimates (including the risk of assumption and methodology errors and ability to complete a new resource estimate by the proposed target date or at all); the ability to meet proposed schedules for the completion of metallurgical tests; the ability to complete the feasibility study by the stated deadline or at all; dependence on third parties for services; non-performance by contractual counterparties; title risks; risks associated with Nord Gold N.V. electing not to exercise its option and make the related option payments and the ability to complete the feasibility study by the stated deadline or at all; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: that the design of the drill plan is appropriate for the site; general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies including, without limitation, drill rigs; and ongoing relations with employees, partners, optionees and joint venturers. The foregoing list is not exhaustive and Columbus undertakes no obligation to update any of the foregoing except as required by law.

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