Colombia Crest Gold Announces Private Placement Financing

Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX
VENTURE:CLB)(PINKSHEETS:ECRTF)(FRANKFURT:EAT) reports that it has arranged a
non-brokered private placement of units (each a "Unit") at the price of $0.025
per Unit to raise gross proceeds of $281,000. Each Unit will be comprised of one
common share and one transferable share purchase warrant. Each warrant will
entitle the holder to purchase one additional common share at the price of $0.05
for one year after Closing, $0.10 during the second year after Closing and $0.15
during the third year after Closing. The Company will not be proceeding with the
proposed private placement announced on April 19, 2013. 


Proceeds from the financing will be used for general working capital. The
Company has agreed to pay finders' fees in respect of a portion of the financing
in accordance with the policies of the TSX Venture Exchange. The proposed
private placement and finder's fees are subject to TSX Venture Exchange
acceptance. All shares issued pursuant to the offering, and any shares issued
pursuant to the exercise of warrants will be subject to a four-month hold period
from the Closing date. 


About Colombia Crest Gold Corp.

Colombia Crest Gold Corp. is focused on systematically exploring, developing and
monetizing promising new gold projects in Colombia. The Company is currently
carrying on exploration programs at the Fredonia and Venecia projects where it
has optioned over 27,700 hectares located approximately 40 km south of the city
of Medellin, in Antioquia Province. The properties are positioned within the
Middle Cauca Belt, the most prolific gold belt in Colombia with more than 500
years of gold mining history and several new gold discoveries. 


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FOR FURTHER INFORMATION PLEASE CONTACT: 
Colombia Crest Gold Corp.
Hans Rasmussen
President and CEO
604-684-7160 or Cellular: 801-554-2074
[e-mail]


Colombia Crest Gold Corp.
Chelsea Jones
Corporate Communications
Cellular: 604-354-2435
[e-mail]
www.ColombiaCrestGold.com