WSP to Complete Environmental Impact Assessment (EIA) on Columbus Gold's Montagne d'Or gold Deposit

WSP to Complete Environmental Impact Assessment (EIA) on Columbus Gold's Montagne d'Or gold Deposit
  
 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 2, 2014) - Columbus Gold Corporation (TSX-VENTURE:CGT) ("Columbus Gold") is pleased to announce that WSP has won the tender to complete an environmental impact assessment (EIA) on Columbus Gold's Montagne d'Or gold deposit, Paul Isnard Project, French Guiana. Proposal to prepare the EIA were received by 6 of the initial 10 companies invited to bid.

WSP will complete a preliminary environmental assessment by the end of 2014 to support a preliminary economic assessment ("PEA") planned for Q1 2015. Submission of a comprehensive EIA to the French government Ministry for Ecology, Sustainable Development and Energy, is targeted for Q1 2017 in connection with the planned completion of a final bankable feasibility study ("BFS").

WSP is one of the world's leading professional services firms with 17,000 employees working in more than 300 offices located in 30 countries, on 5 continents. For over 30 years, WSP's personnel have been providing environmental services to improve the sustainability, acceptability and profitability of mining projects. WSP has conducted environmental studies of gold mining projects in many countries and regions, including France and French Guiana. The WSP team of environmental and social experts involved in the Paul Isnard project includes specialists provided by GéoPlus Environnement, the second largest consulting firm specialized in the mining sector in France, and BIOTOPE, the most important consulting firm in France specialized in ecological expertise which has a regional office in Cayenne, French Guiana.

All studies are being funded by Nord Gold N.V. (LSE: NORD LI) ("Nordgold") as part of a 3 year minimum US$30 million exploration and development program pursuant to which Nordgold can earn a 50.01% interest in Montagne d'Or and certain Paul Isnard mineral claims, by completing a BFS.

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.

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 Columbus Gold's: proposed drilling programs; projected funding of drilling programs by Nord Gold N.V. pursuant to the terms of the option agreement and the related completion of a bankable feasibility study and general exploration plans. 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: the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers and drill equipment; competition for mining properties; risks associated with exploration projects, mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; risks associated with Nord Gold N.V. electing not to exercise its option and make the related option payments; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: that the design of the drill plan is appropriate for the site; general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies including without limitation drill rigs; and ongoing relations with employees, partners, optionees and joint venturers. The foregoing list is not exhaustive and Columbus Gold undertakes no obligation to update any of the foregoing except as required by law.

Columbus Gold CorporationInvestor Relations604-634-0970 or [e-mail]