Vancouver, B.C., April 20, 2011. Columbus Gold Corp. (CGT: TSX-V) (“Columbus Gold”) is pleased to announce that it has amended its fixed stock option plan. The plan, the last amendment of which was approved by shareholders at Columbus Gold’s AGM on March 23, 2009, has been amended to allow Columbus Gold to issue up to 7,000,000 incentive stock options to its directors, officers, employees, consultants, and other qualified optionees. The amendment to the plan requires shareholder approval at Columbus Gold’s Annual General Meeting, scheduled for May 25, 2011, and TSX Venture Exchange approval.


ON BEHALF OF THE BOARD,

Robert 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
Senior Vice-President
604-638-3474 or
1-888-818-1364
info@columbusgoldcorp.com

This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”), respecting the approvals of Columbus Gold’s amended stock option plan. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation that either shareholders of Columbus Gold or the TSX Venture Exchange will not approve the plan. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions that shareholders and the TSX Venture Exchange will find the amended plan acceptable and will approve same. The foregoing list is not exhaustive and we undertake no obligation to update any of the foregoing except as required by law.