Columbus Energy Limited ("the Company") Closes Private Placement

   Columbus Energy Limited (TSX VENTURE: CEL) -

The Company is pleased to announce that it has completed its non-brokered private placement and successfully raised $1,430,482.50 by issuing 28,609,650 units.

The securities are subject to a hold period and may not be traded until April 14, 2011, except as permitted by Canadian securities legislation and the TSX Venture Exchange.

The Company will pay finders' fees totaling $111,466.62 in connection with the private placement.

This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government approvals, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements.

Neither 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.

Contacts: Columbus Energy Limited Douglas W. Scheving Director and Corporate Secretary [phone] [phone] (FAX)