Drilling Comences at Utah Clipper and Crestview Properties on the Battle Mountain Trend, Nevada

Vancouver, British Columbia, Canada. February 15, 2007. Columbus Gold Corporation (CGT: TSX-V) ("Columbus Gold" or the "Company") is pleased to announce that drilling has commenced on the Company's Utah Clipper and Crestview properties where joint venture partner Agnico Eagle Mines Limited (AEM: TSE & NYSE) is earning an initial 51% interest in the properties by undertaking staged annual exploration expenditures. Both properties are located directly adjacent to Barrick Gold's world-class Pipeline-Gold Acres gold mine complex, in the Cortez-Pipeline sector of the prolific Battle Mountain Gold Trend, Nevada.

The programs will consist of approximately 9,000 feet (2,743 metres) {6,000' (1,829 m) at Utah Clipper and 3,000' (914 m) at Crestview} of drilling in up to 8 deep holes and will target favorable "lower plate" stratigraphy in structurally prepared and fault-bounded environments hosting intrusive dikes and/or sills. Click here to view a map of the proposed drill plan:


Based upon historical drilling results, depth to the Roberts Mountains Thrust Fault and lower plate rocks in the area of the proposed drilling at Utah Clipper is approximately 1000' to 1200' (305 m to 366 m) deep and is believed to be approximately 400' to 500' (122 m to 152 m) deep in the locations of the proposed drilling at Crestview. Anticipated total depths of the proposed drill holes are expected to reach +1500 feet (+457 metres) so as to intersect a substantial thickness of lower plate Wenban Limestone and Roberts Mountains Formation, the host rocks at the nearby Gold Acres and Pipeline deposits.

Historic production at Utah Clipper includes silver and base metals from the Boss Mine and silver production from the Utah Camp and Clipper mines; past work includes limited modern exploration by Newmont, Goldfields, Noranda/Hemlo and Uranerz/Cameco in the late-1980's to mid-1990's. Historical exploration at Crestview includes surface sampling and four drill holes by Newmont in 1987 and five drill holes by ASARCO in 1994. The drill holes collared in the upper plate of the Roberts Mountains thrust fault and penetrated metamorphosed lower plate limestones and limy siltstones at depths of 400 to 500 feet (122 to 152 metres). The lower plate rocks were altered in several holes, and contained anomalous gold.

The principal geologic targets at Utah Clipper and Crestview, classical "Carlin" or "Pipeline" style bulk mineable, disseminated gold deposits or high grade, structurally controlled vein deposits in "lower plate" carbonates, have not been adequately tested by past work.

Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical contents of this news release. Mr. Wallace is a partner of Cordilleran Exploration Company ("Cordex"), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.


Columbus Gold Corporation is a gold exploration and development Company operating principally in Nevada. The Company has an experienced management group with a strong background in all aspects of the acquisition, exploration, development and financing of precious metal mining projects. Columbus controls a 100% interest, subject to royalties, in 20 gold projects strategically located along or near Nevada's most productive gold trends and 5 silver and copper projects located in Arizona and Utah. The Company's project activities are managed by Cordilleran Exploration Company ("Cordex"), owned and operated by John Livermore and Andy Wallace who have a long and successful history of gold discovery and mine development in Nevada.

The Company maintains active generative (prospecting) and evaluation programs and, as a key element of strategy, broadens exposure, minimizes risk and maintains focus on high priority prospects while seeking industry finance through joint ventures on selected projects. The Company currently has 11 of its projects joint ventured to major and junior mining companies.


Robert Giustra
President & CEO, Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information contact:

Ray Lagace
Investor Relations

Allegiant Gold Ltd.

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