Completion of Public Hearings for Columbus Gold’s Montagne d’Or Gold Project; Support for Development of Montagne d’Or Remains Widespread

VANCOUVER, Aug. 07, 2018 - Columbus Gold Corp. (CGT: TSX, CGTFF: OTCQX) (“Columbus”) is pleased to provide a permitting update for the Montagne d'Or gold mine project located in French Guiana, France. As required by French legislation, public hearings for Montagne d’Or were organized by the French National Commission of Public Debate (CNDP). They were completed on July 7^th, 2018. In total, 14 public information meetings and workshops were held at various locations around French Guiana.

The next phase of the public consultation process is for the CNDP to create a report based on all the opinions, questions, commentaries and contributions received from stakeholders during the public hearings. The report is due to be published no later than September 7^th, 2018. Following the publication of the report, the Montagne d'Or joint venture (Columbus 44.99% and Nordgold 55.01%) will have three months to make a public announcement regarding its plans, or modifications thereunder, to develop Montagne d’Or.

Like most mining projects, there is some NGO opposition to Montagne d’Or, which was expressed during the public hearings. However, Montagne d’Or has received widespread support from numerous local socio-economic groups, three out of the four local workers' trade unions, and a majority of the elected representatives of French Guiana, including Rodolphe Alexandre, the President of French Guiana, whom publicly stated: “I’ve always said that I support the gold mining sector… replacing illegal mining by legal mining”. Click here to view the complete press interview in French:

www.columbusgold.com/i/nr/2018-08-07-alexandre.mov

Other elected representatives of French Guiana that have expressed support for Montagne d’Or include Denis Galimot, a Vice President of French Guiana, Lénaïck Adam, one of two Delegates of the National Assembly representing French Guiana in the lower house of Parliament of France, Georges Patient, a Senator representing French Guiana in the upper house of the Parliament of France, and Léon Bertrand, Mayor of the city of Saint-Laurent du Maroni, where the Montagne d’Or project is located. Other notable individuals that have expressed support include:

• Paulin Bruné - Former Delegate of the National Assembly, representing French Guiana in the lower house of the Parliament of France and current President of the local Federation of the Republican Party.
  
• Thara Govindin - President of the Movement of French Entrepreneurs (MEDEF), French Guiana Chapter.
  
• Paul Dolianki - Mayor of the Municipality of Apatou (the closest community to Montagne d’Or) and Vice-President of the Organization of Municipalities of West French Guiana.
  
• Michel Chaya - Vice-President of the Chamber of Commerce and Industry of French Guiana.
  
• Jean Gontrand - Elected representative of the Organization of Municipalities of West French Guiana, Member of the Port Commission of West French Guiana, and Counselor of the City of Saint-Laurent du Maroni (Montagne d’Or is located within the jurisdiction of Saint-Laurent du Maroni).
  
• Monique Guard - President of “Citoyens Citoyennes” – A collective movement advocating for social causes in French Guiana.
  
• Gauthier Horth - Elected Councilor of French Guiana (CTG).
  
• Bernard Sellier - Deputy Mayor of Saint-Laurent du Maroni.
  
• Valentine Bonifacie - President of “Les Premières de Guyane”, incubator for innovative entrepreneurs.
  
• Barbara Bartebin - Deputy Mayor of Saint-Laurent du Maroni.

With the permitting process well underway, Columbus is turning its attention towards other opportunities in French Guiana that could establish Columbus as a dominant player in an emerging gold mining district.

ABOUT COLUMBUS GOLD
Columbus is a leading gold exploration and development company operating in French Guiana, France. Columbus holds a major interest in the world-class Montagne d'Or gold deposit in French Guiana. A Feasibility Study for Montagne d'Or was filed in May 2017, and the permitting process is currently underway.

ON BEHALF OF THE BOARD,

Robert F. Giustra
Chairman

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
info@columbusgold.com

Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as "forward-looking statements". The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include but are not limited to statements and information regarding: the current or future support of elected officials and other individuals for the development and construction of the Montagne d’Or gold mine; the construction and development plans for the Montagne d’Or gold mine, including anticipated timing thereof; the satisfaction of additional requirements to the construction of the Montagne d’Or gold mine, including but not limited to, the completion of a public consultation process; and the submission and processing of mine permit applications. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in the Annual Information Form of Columbus Gold Corp., available on SEDAR under Columbus’ profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Columbus undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.