VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 8, 2016) - Columbus Gold Corp. (TSX:CGT)(OTCQX:CBGDF) ("Columbus") applauds the Board of Directors of Eastmain Resources Inc. for taking swift action to address the concerns of Columbus and other concerned shareholders.
Robert Giustra, CEO of Columbus, stated, "It is a victory for shareholders everywhere when blockages are removed so that investments can be set on a course to realizing their full potential."
The agreement reached by Eastmain for a strategic investment by Integra Gold Corp., the management changes, the highly capable revised slate of director nominees put forward by Eastmain and Integra, and the plans for advancement of the Eau Claire deposit have addressed all of the concerns that were raised by Columbus in its initial news release from March 28, 2016. As a result, Columbus has reached an agreement with Eastmain and Integra to withdraw its dissident action.
About Columbus
Columbus Gold is a gold exploration and development company operating in French Guiana and Nevada. At its 100% owned Paul Isnard Project in French Guiana, Columbus is developing the Montagne d'Or Gold Deposit, which hosts a NI-43-101 in-pit gold resource of 3.9 million ounces Indicated and 1.1 million ounces Inferred (83.2 million tonnes @ 1.45 g/t gold, and 22.4 million tonnes @ 1.55 g/t gold, respectively, at a 0.4 g/t cut-off ), with considerable expansion potential in parallel zones, on strike and at depth.
In Nevada, Columbus Gold is advancing its 100% owned Eastside oxide, gold discovery, 32km west of Tonopah. Eastside has district scale potential. A drilling program is underway. Columbus also has controlling interests in 12 other gold projects in Nevada.
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