Tolima Gold Inc. Retains Investor Relations Consultant

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2012) -

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Tolima Gold Inc. ("Tolima") (TSX VENTURE:TOM) announced today that it has engaged Contact Financial Corp. ("Contact Financial") to provide investor relations services to Tolima for an initial term of three months commencing January 15, 2012, subject to regulatory approval, which the parties may mutually agree to extend on a month-to-month basis thereafter, for a monthly fee of $6,000 plus reasonable out-of-pocket expenses. Tolima has also granted to Contact Financial stock options to purchase 300,000 common shares at an exercise price of $0.65 per share expiring on January 15, 2017. These options will vest quarterly over a 12-month period.

Contact Financial is a Vancouver-based strategic marketing and communications firm with experience in creating exposure for resource exploration and development companies to a variety of audiences. Contact Financial's services will include increasing awareness of Tolima within the financial community. The firm is owned and operated by Kirk Gamley.

Information Concerning Tolima

Tolima is a gold exploration and development company with contractual interests in gold properties in Colombia. Tolima's two material mineral properties are the Remedios Project, located in the Remedios/Segovia mining district in the Antioquia Department of Colombia, and the Marmato Project, located in the Marmato/Caramanta district in the Caldas and Antioquia Departments of Colombia. Tolima's interest in the Remedios Project also includes an underground mine in the development stage (the San Pablo Mine) and a gold processing and recovery plant located in the Remedios/Segovia district with capacity of approximately 100 tons per day, which Tolima intends to bring into operation and to expand current capacity. Tolima also has mining interests in the Nortol property, located in the Tolima Department of Colombia. Tolima is continuing to explore opportunities for the acquisition of additional mining interests in prospective mining districts in Colombia.