Vancouver, British Columbia, Canada. January 25, 2011. Columbus Gold Corporation (CGT: TSX-V) (the “Company”) is pleased to announce the appointment of Akbar Hassanally as its Chief Financial Officer.

Early in his career, Mr. Hassanally audited junior mining companies at KPMG in Vancouver. Since 1995, he has been engaged as a mergers and acquisitions advisor, including on Wall Street with Credit Suisse First Boston and JP Morgan Chase, where he was responsible for conducting financial analysis and executing merger transactions in a variety of industries, including metals and mining. Mr. Hassanally holds a Bachelor of Arts Degree and a Diploma of Honors Standing (Economics) from the University of Western Ontario and has held the designation of Chartered Accountant.

“We are very pleased to have Akbar Hassanally accept this important appointment” stated Robert Giustra, Chairman. “His background on Wall Street in finance and his experience with financial modeling will be of great benefit to the Company as we aim to progress projects to the feasibility stage.”

Sean McGrath, the Company’s former Chief Financial Officer, has resigned his position to pursue other opportunities; the Company thanks Mr. McGrath for all his years of loyal service and wishes him all the best in his future endeavors.

The foregoing appointment is subject to TSX Venture exchange approval and to a standard probationary period.

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:

Peter Kendrick
President
604-638-3474 or
1-888-818-1364
info@columbusgoldcorp.com