Vancouver, B.C., December 20, 2013 - Columbus Gold Corp. (CGT: TSX-V) (“Columbus Gold”) announces that it has granted incentive stock options to certain of its directors, officers, consultants and employees to purchase up to an aggregate of 2,125,000 common shares at an exercise price of $0.35 per share. 1,200,000 of the options vest immediately. 775,000 of the options vest as to 1/3 on June 18, 2014 and 1/3 at the end of each of the next two 6 month periods. 150,000 of the options vest as to 50% on December 18, 2014 and the remaining 50% on December 18, 2015. All of the foregoing options expire on December 18, 2018.

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.

For more information contact:

Investor Relations
604-634-0970 or
1-888-818-1364
info@columbusgroup.com