Tolima Gold Announces Extension of Warrants

TORONTO, ONTARIO--(Marketwired - Dec. 5, 2013) -

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Tolima Gold Inc. ("Tolima" or the "Company") (TSX VENTURE:TOM) announced that, further to its press release on November 12, 2013, it has received approval from TSX Venture Exchange ("TSX-V") to extend the expiry date of 18,749,999 outstanding common share purchase warrants of the Company (the "March Warrants") from December 9, 2013 to March 23, 2016, and 19,250,000 outstanding common share purchase warrants from December 8, 2013 to December 5, 2016 (the "December Warrants", together with the March Warrants, the "Warrants").

The Company also intends to seek the approval of holders of the Warrants to decrease the exercise price to $0.15 per common share, in accordance with, and subject to, applicable TSX-V policies.

About Tolima Gold Inc.

Tolima is a gold exploration and development company with contractual interests in gold properties in Colombia. Tolima's mineral properties are the Remedios Project, located in the Remedios/Segovia mining district, including the San Pablo and Bartola mines, located in the Antioquia Department of Colombia; the Ancal/Marmato Project, located in the Marmato/Caramanta district in the Caldas and Antioquia Departments of Colombia; and the Nortol project, including the newly acquired Papayo property, located in the Northern part of the Tolima Department of Colombia. Tolima continues to explore opportunities for the acquisition of additional mining interests in prospective mining districts in Colombia.

Forward-Looking Statements

Certain statements in this press release that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of securities law.

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