Vancouver, B.C., December 20, 2006. Columbus Gold Corporation (CGT: TSX-V) (“Columbus Gold” or the “Company”) announces that in accordance with the Company’s stock option plan, it has granted incentive stock options to certain of its officers, employees and consultants to purchase up to an aggregate of 115,000 common shares exercisable on or before December 20, 2011 at a price of $1.40 per share.

ON BEHALF OF THE BOARD,
Robert F. 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
Direct: 604-638-3474
Toll Free: 1-866-689-2599

COLUMBUS GOLD CORPORATION
910 - 475 Howe Street
Vancouver, B.C. V6C 2B3

Tel: 604.689.2599 Fax: 604.689.3609
Toll Free: 1.866.689.2599
info@columbusgoldcorp.com

www.columbusgoldcorp.com