Mr. Robert Giustra reports

COLUMBUS RECEIVES US$6 MILLION FOR A 5% MINORITY INTEREST IN ITS PAUL ISNARD GOLD PROJECT

Columbus Gold Corp. has sold a 5-per-cent minority interest in its 100-per-cent-owned Paul Isnard gold project in French Guiana to Nord Gold NV for $6-million (U.S.) (approximately $8.6-million). The $6-million (U.S.) payment is being made to Columbus immediately in the form of an advance; however, the formal acquisition and transfer of the 5-per-cent interest will not occur until Nordgold has financed completion of a feasibility study (anticipated for year-end) and achieved a minimum of $30-million (U.S.) in project expenditures, in order to earn an additional 50.01-per-cent interest in Paul Isnard (for a combined interest of 55.01 per cent). If Nordgold does not earn its initial 50.01-per-cent interest, then Columbus is required to refinance the advance.

Robert Giustra, chief executive officer of Columbus Gold, commented: "This transaction continues to demonstrate our enduring commitment to protecting our shareholders from dilution, with creative solutions for raising capital in challenging markets. Columbus is now fully funded through 2016."

There are currently four drill rigs operating at the Montagne d'Or gold project, where Nordgold is assuming operatorship this month. Utilizing a cut-off grade of 0.4 gram per tonne gold, the Montagne d'Or gold deposit currently hosts a pit-constrained gold resource of 3.9 million ounces indicated (83.2 million tonnes grading 1.45 g/t gold) and 1.1 million ounces inferred (22.4 million tonnes grading 1.55 g/t gold). A preliminary economic assessment was completed at Montagne d'Or in July, 2015.

The PEA is preliminary in nature. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. The PEA entitled "Amended NI 43-101 Technical Report, Preliminary Economic Assessment, Montagne d'Or Gold Deposit, Paul Isnard Project, Commune of Saint-Laurent-du-Maroni, NW French Guiana," dated July 31, 2015, is available under Columbus's profile on SEDAR.

Rock Lefrancois, PGeo (OGQ), chief operating officer for Columbus and qualified person under National Instrument 43-101, has reviewed this news release and is responsible for the technical information reported herein.

We seek Safe Harbor.