News Column

Columbus Gold Receives $2.2 Million Option Termination Refund

Mar 27 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/27/13 -- Columbus Gold Corp. (TSX VENTURE: CGT) ("Columbus Gold") announces the termination of the letter agreement with Columbus Copper Corporation (formerly Empire Mining) ("Columbus Copper") first announced in March 2012 (the "Columbus Agreement"). The Columbus Agreement granted a contingent option under which Columbus Gold could earn up to a 51% interest in Columbus Copper's Demirtepe property in Turkey. In connection with the termination, Columbus Gold has been repaid a $2,000,000 refundable deposit plus approximately $200,000 in interest and fees.

Columbus Gold now has approximately $4.4 million in cash on hand.

For additional information on the Columbus Agreement, please see Columbus Gold's news release of March 29, 2012.

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.



Contacts:
Columbus Gold Corp.
Investor Relations
604-634-0970 or 1-888-818-1364
604-634-0971 (FAX)
info@columbusgroup.com
www.columbusgroup.com





Source: Marketwire


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