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To: Chunger who wrote (64548)	12/22/2010 9:38:16 AM
From: Veteran98	Read Replies (1) of 233807

Columbus Gold to move forward with Paul Isnard deal Ticker Symbol: C:CGT Columbus Gold to move forward with Paul Isnard deal Columbus Gold Corp (C:CGT) Shares Issued 37,094,518 Last Close 12/21/2010 $0.86 Wednesday December 22 2010 - News Release Mr. Robert Giustra reports COLUMBUS GOLD ACHIEVES IMPORTANT MILESTONE IN ACQUISITION OF 2 MILLION OZ. PAUL ISNARD GOLD PROJECT Columbus Gold Corp. has achieved an important milestone with respect to its proposed acquisition of the two-million-ounce Paul Isnard gold project in French Guiana, first announced in Stockwatch news dated Dec. 3, 2010. Pursuant to the agreement between the parties, Columbus Gold has received formal notice from the optionor Auplata SA ("Auplata") that it has completed its due-diligence respecting Columbus Gold and the proposed transactions contemplated between the parties and that it wishes to move forward to closing as soon as possible. Auplata's completion of due diligence marks the satisfaction of the first of the conditions precedent to the option agreement. The Paul Isnard Project includes the Montagne d'Or gold deposit. In 2008, SRK completed a Preliminary Assessment at Montagne d'Or and estimated a 43-101 compliant inferred resource of 2 million ounces gold from 33.2 mt grading 1.69 gpt, using a cutoff grade of 0.5 grams per tonne gold. The Montagne d'Or deposit is open in every direction laterally and at depth. Columbus Gold has commissioned an updated 43-101 resource estimate at Montagne d'Or which will be filed on SEDAR by mid-January. The work program planned by Columbus Gold will be focused on Montagne d'Or where infill drilling is planned to convert Inferred resources to Measured and Indicated categories, and holes drilled at greater depths and along strike are planned in order to increase the mineral resources. Numerous less developed gold prospects and untested geochemical anomalies which occur throughout the project area will also be evaluated. Columbus Gold has the option to earn a 100% interest in the Paul Isnard gold project (subject to underlying royalties). Columbus Gold's independent consultant and Qualified Person, John Prochnau (P. Geo), B.Sc. (Mining Engineering), M.Sc. (Geology), has reviewed and approved the technical content of this news release. We seek Safe Harbor. ? 2010 Canjex Publishing Ltd.

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