Nordgold Acquires ~9% Stake in Columbus Gold; Appointment of New Director

VANCOUVER, BC--(Marketwired - October 14, 2014) - Columbus Gold Corp. (TSX VENTURE: CGT) (OTCQX: CBGDF) reports that Nord Gold N.V. (LSE: NORD LI) ("Nordgold") has acquired ~9% of Columbus Gold in open market purchases during the period from September 2013 to August 2014 and Mr. Oleg Pelevin, Director of Strategy and Corporate Development for Nordgold, has been appointed to Columbus Gold's board of directors.

Robert F. Giustra, Chairman & CEO of Columbus Gold stated "We're very pleased with the opportunity to benefit from the exclusive insight that comes with the world's fastest growing gold company being a major shareholder and holding a board seat. As Director of Strategy and Corporate Development, Mr. Pelevin has played an instrumental role in Nordgold's success; his unique knowledge and experience are clearly valuable assets for Columbus Gold shareholders." 

Mr. Oleg Pelevin holds the position of Director of Strategy and Corporate Development at Nordgold. He has been with Nordgold since its founding in 2007 as the gold mining division of OJSC Severstal, one of the world's leading vertically integrated steel companies. During his tenure, Nordgold has grown aggressively from an ambitious upstart to a major gold producer, and now operates nine gold mines in four countries. In 2013, Nordgold achieved 924,000 ounces of gold production and generated US$1.3 billion in revenue, earning it the distinction of being the world's fastest growing gold company.

The foregoing appointment is subject to TSX Venture exchange approval.

ON BEHALF OF THE BOARD,

Robert F. 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.