News Releases

Columbus Gold Corporation Grants Options

December 7, 2010

Vancouver, British Columbia, Canada. December 7, 2010 Columbus Gold Corporation (CGT: TSX-V) (the “Company”) announces that it has granted incentive stock options to Peter Kendrick, its recently-appointed President, to purchase up to an aggregate of 70,500 common shares exercisable on or before December 6, 2015 at a price of $0.50 per share.

Additionally, the Company announces that it has granted incentive stock options to certain of its officers, directors, consultants, employees, and service providers, to purchase up to an aggregate of 1,138,000 common shares exercisable on or before December 6, 2015 at a price of $0.50 per share. In accordance with TSX Venture Exchange rules, the aforementioned 1,138,000 stock options are subject to TSX Venture Exchange approval and approval at the Company’s next Annual General Meeting of Shareholders, the date of which meeting has not been set. These 1,138,000 options may not be exercised until such approvals are obtained, if at all.


Robert Giustra,
CEO & Chairman

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.

For more information contact:

Investor Relations
604-638-3474 or


This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”), respecting the approval of stock options. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation the ability to acquire necessary authorizations; that service providers to whom the Company has granted options may cease to be service providers on or before the date of the Company’s next annual general meeting; risks associated with exploration projects, ability to hold an annual general meeting in compliance with applicable law and stock exchange policy; the ability to obtain the required approvals at such meeting; the ability to obtain TSX Venture Exchange approvals in connection with the foregoing; dependence on third parties for services; non-performance by contractual counterparties; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: the Company’s ability to hold its meeting within applicable requirements; the Company’s ability to garner appropriate approvals at such meeting; the Company’s ability to obtain required TSX Venture Exchange approvals; general business and economic conditions; the timing and receipt of required approvals; that service providers granted options will continue to hold such positions on the date of the Company’s meeting; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive and we undertake no obligation to update any of the foregoing except as required by law.