Vancouver, British Columbia, Canada. October 11, 2007. Columbus Gold Corporation (CGT: TSX-V) (“Columbus Gold” or the “Company”) is pleased to announce that it has received Exchange approval to the re-pricing of certain outstanding options to purchase up to an aggregate of 186,250 common shares in the capital of the Company previously granted to certain directors, officers, employees and consultants at exercise prices of $1.40, $1.45 and $1.68 to an exercise price of $1.25 in order to more closely reflect the current trading range of the Company’s common shares.

About Columbus Gold

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 23 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 12 of its projects joint ventured to major and junior mining companies.

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
604-638-3474
info@columbusgoldcorp.com