Vancouver, B.C., August 15, 2008. 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 directors, officers, employees and consultants to purchase up to an aggregate of 2,257,500 common shares exercisable on or before August 15, 2013 at a price of $0.50 per share. The issuance of the options is subject to approval by the board of directors.


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