Mr. Robert Giustra reports

COLUMBUS SPIN-OUT ALLEGIANT RECEIVES CONDITIONAL LISTING APPROVAL; SHARE DISTRIBUTION RECORD DATE SET

Columbus Gold Corp. has obtained conditional approval from the TSX Venture Exchange to list Allegiant Gold Ltd. This was the last required condition to set the share distribution record date and to complete the spinout of Allegiant to Columbus shareholders. The share distribution record date is Jan. 19, 2018.

Only shareholders of record as at the share distribution record date will be entitled to receive shares of Allegiant in the spinout. Shareholders of record on Jan. 19, 2018, will receive one share of Allegiant for every five shares they own of Columbus. Shareholders who sell their Columbus shares prior to the share distribution record date will not be entitled to receive shares of Allegiant.

Shareholders of Columbus, as at the share distribution record date, are not required to do anything to obtain their Allegiant shares. Allegiant shares will be distributed by Columbus's registrar and transfer agent, Computershare Investor Services Inc. Columbus will issue a subsequent news release when it receives notice from TSX Venture Exchange regarding the date that Allegiant will commence trading.

About Columbus Gold Corp.

Columbus is a leading gold exploration and development company operating in French Guiana, France, and in Nevada. Columbus holds a major interest in the world-class Montagne d'Or gold deposit in French Guiana. A feasibility study for Montagne d'Or was filed in May, 2017, and the permitting process is currently under way. In Nevada, Columbus's 100-per-cent-owned subsidiary Allegiant Gold Ltd. controls 14 projects, including its flagship project, Eastside. Drilling is under way at Eastside and drill assays from Bolo are pending.

We seek Safe Harbor.