Vancouver, BC, Canada, December 3^rd, 2019. Columbus Gold Corp. (CGT: TSX, CGTFF: OTCQX) (“Columbus”) is pleased to report on a very positive decision from the French government for the development of the gold mining industry in French Guiana, where Columbus is currently advancing its gold projects.

In 2014, the French government had authorised the construction and operation of a cyanide processing pilot plant on the outskirts of Cayenne, the capital of French Guiana, to treat gravity ore concentrates from various gold mines in French Guiana (news release dated February 28, 2014).  On November 22, 2019, the French government authorised the start up of a cyanide processing plant at Dieu-Merci, a gold mine site located 100 kilometres west of Cayenne.  Construction of the plant was approved by the State services in 2015, and with all permits in place, hot commissioning will commence soon for a start of processing slated for early 2020.  The plant will have a capacity of 300 tonnes per day with extraction of 90% of the gold by cyanidation.

This decision is based on several recent independent French agency reports (BRGM, Ineris) that have studied the risks and best practices of cyanide extraction technology for gold.  The reports conclude that the main risks are related to the transport and storage of the product and that cyanide technology offers a maturity and a robustness superior to any other existing alternative.  Cyanide technology is used at two major gold mines in neighbouring Suriname.

Rock Lefrançois, President & CEO of Columbus Gold, commented: “This recent development is a major step and a clear message that the French government is committed to developing the gold mining industry in French Guiana.”

About Columbus

Columbus is French Guiana’s leading gold exploration and development company with a portfolio of high-quality projects in a highly prospective and underexplored segment of the Guiana Shield.  Its objective is to discover major economic gold deposits that can be developed following the highest international standards for Responsible Mining.  The Company is signatory to the International Cyanide Management Code.  Columbus holds a major interest in the world-class Montagne d’Or mine development project.  It is also advancing the Maripa gold exploration project, where past drilling had returned excellent near surface results, including 36 metres of 4.3 g/t gold.  

ON BEHALF OF THE BOARD,

Rock Lefrançois
President & CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
info@columbusgold.com

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include but are not limited to statements and information regarding: its plans, or modifications thereunder, to develop Montagne d’Or ; the construction and development plans for the Montagne d’Or gold mine, including anticipated timing thereof; the satisfaction of additional requirements to the construction of the Montagne d’Or gold mine, including but not limited to, the submission and processing of mine permit applications; the timing and rendering of a decision regarding the development of the gold mining industry in French Guiana; and the earning into of the Maripa gold exploration project and related exploration objectives and plans. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in the Annual Information Form of Columbus Gold Corp., available on SEDAR under Columbus’ profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Columbus undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.