Colombia Crest Gold Commences Drill Program at Arabia Target

Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX
VENTURE:CLB)(PINKSHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce that the
first-ever drill program has commenced at the Arabia porphyry gold targets,
Antioquia Department, Colombia. A total of 5,000 metres of diamond core drilling
is planned for this first phase of drilling on two targets: Arabia 1 covers 400
by 800 metres and Arabia 2 covers 300 by 400 metres. The two large target areas
were identified in late 2011 based on geophysics, alteration mapping, soil and
rock chip assay information (announced December 6, 2011 - View Map:
http://www.colombiacrestgold.com/properties/colombia/geology2). 


"This is a very exciting time for our team - we started this grass-roots
exploration program one year ago at the close of a $6.4 million private
placement - unlike our neighbors we started with no prior exploration or
historic mining - all our results have been generated by our Medellin-based
technical team," commented Hans Rasmussen, President and CEO. "After just one
year we are ready to drill test our first two large porphyry gold targets at
Arabia!" 


(Hans Rasmussen's recent update:
http://www.colombiacrestgold.com/_resources/videos/CLB_1080p)


The Colombia Crest Technical Team has extensive experience drilling and
discovering porphyry-style gold deposits: during the drill program, our
technical team will be on-site, selecting each drill hole location and angle.
Visually, the on-site geologists will be able to examine the core as it comes up
from the drill and determine which cores have the best type of mineralization -
these visual observations will allow in-field modifications to each drill hole,
for example, holes can be extended or the angle changed based on alteration
related to gold mineralization, the abundance of copper minerals like
chalcopyrite, etc. 


The Company executed a drill contract with Canadian Drill Corporation (instead
of previously announced Energold) because of drill rig availability and
experience in the region drilling other similar targets. Canadian Drill
Corporation will employ a single man-portable drill rig during this initial
5,000 metres, leaving the door open to add rigs later on as the results warrant.
They are using water recycling technology to minimize consumption during
drilling.


About Colombia Crest Gold Corp.

Colombia Crest Gold Corp. is focused on systematically exploring, developing and
monetizing promising new gold projects in Colombia as well as realizing the
potential of its 100 percent-owned San Simon project in Bolivia. The Company
employs a team of seasoned geologists, each with 20+ years of experience
exploring and discovering this type of porphyry deposit around the world,
including Argentina, Peru, Ecuador, Mexico, Alaska, Indonesia, and Eastern
Europe. 


Grassroots Exploration is the lifeblood of discovery; rewards for investors will
be realized based on assets that are delivered through good science employed by
a world-class exploration team. The porphyry gold-copper assets that result from
grassroots discoveries have the potential to yield $500M to over $2B value to a
mining company. 


Along with a strong working capital position, the Company will accelerate the
exploration programs at the Fredonia and Venecia projects where it has optioned
over 34,000 hectares (81,600+ acres) located in the Cauca River Valley. Situated
approximately 40 km south of the city of Medellin, in Antioquia Province, the
properties are positioned within the Middle Cauca Belt, which is 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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