Columbus Gold Corporation ("Columbus Gold") reports the signing of a contract with Coffey Mining Pty Ltd ("Coffey") to complete a new NI 43-101 compliant resource estimate of Columbus Gold's Montagne d'Or gold deposit, as a result of reservations expressed by SRK Consulting (U.S.), Inc. ("SRK"), and supported by Mine Development Associates, respecting certain methodologies previously employed by Coffey in their NI 43-101-compliant 2012 technical report on Montagne d'Or (see May 5th, 2014 press release).
Although SRK's reservations were not expressed in a NI 43-101 compliant report, in the interest of providing timely public disclosure, Columbus Gold issued the May 5th press release, indicating that it had not yet had the opportunity to obtain comment from Coffey on their choice of methodologies used in their resource estimate and that it would provide conclusive clarity on the matter by obtaining comment from Coffey and commissioning a new independent NI 43-101 compliant resource update.
Pursuant to the terms of the contract signed with Coffey, it is anticipated that a new resource estimate can be announced during the month of June. The resource estimate will also include assays from the current Phase II drilling campaign received as at May 24th, 2014.
ON BEHALF OF THE BOARD,
Robert F. Giustra, Chairman & CEO