Columbus Energy Limited Enters Into Option Agreement to Acquire 60% of Polish Coal Mine

Columbus Energy Limited (TSX VENTURE:CEL) ("Columbus") is pleased to announce it
has acquired a six month exclusive option to carry out a due diligence/mine
study to acquire 60% of the Barbara-Chorzow Coal mine in Upper Silesia Poland
from Przedsiebiors Uslug Gorniczych Greenway ("Greenway"), a local company whose
directors and shareholders are well known in the Polish coal mining industry.


Provided Columbus is satisfied with the outcome of the due diligence/mine study
particularly with the capital cost of reactivating the existing mine, and
regulatory approval, it is the intention of Columbus to exercise the option.


Under the terms of the option agreement Columbus will be responsible for
securing 100% of the capital expenditure 40% of which will be paid back by
Greenway from initial production. No cash or shares will be issued on the
exercise of the option agreement.


The mine, which closed in 1994, left the biggest seam (seam 816) intact due to
economic constraints.


Greenway is the legal owner of a 13.4 square kilometre exploration concession
over the existing mine area. Conditions to convert this exploration concession
to an exploitation concession include the drilling of an exploration hole to 945
meters, the hole is presently at 915 meters. The exploitation application is
presently being prepared.


Upon exercise of the option, a bankable feasibility study will be undertaken
which should take 12 months to complete. Re-commissioning and construction work
to access seam 816 will take approximately 27 months.


In the initial due diligence on the mine, Columbus and Greenway have relied on
published reports and technical studies.


The mine infrastructure of Barbara-Chorzow has not been dismantled and the
shafts headframe and winding gear remain in place.


Dr. Larry Thomas, B.Sc., Ph.D, C.Eng. FIMMM, C. Geol., FGS of Dargo Associates
of the United Kingdom has been retained to provide a NI 43-101 report on the
project. The contents of this news release is based upon the information
received so far and has been approved by Dr. Thomas, the Columbus qualified
person.


Columbus continues to evaluate the potential in recommissioning other existing
coal mines in Upper Silesia, Poland.


Douglas Scheving, Director

FOR FURTHER INFORMATION PLEASE CONTACT: 
Columbus Energy Limited
Douglas W. Scheving
Director and Corporate Secretary
604 684 7619