Mr. Robert Giustra reports

COLUMBUS GOLD ENTERS INTO FORMAL JV WITH NORDGOLD TO DEVELOP THE MONTAGNE D'OR GOLD DEPOSIT IN FRENCH GUIANA

Effective on Sept. 14, 2017, Columbus Gold Corp. signed a shareholder agreement, and entered into a formal joint venture, with Nord Gold SE outlining the rights and obligations of each joint venture partner with respect to the management and development of the Montagne d'Or gold deposit, located in French Guiana.

Columbus Gold retains a 44.99-per-cent interest and Nordgold a 55.01-per-cent interest in Compagnie Miniere Montagne d'Or (the French subsidiary joint venture company holding the Montagne d'Or gold deposit). Columbus Gold appointed two nominees, and Nordgold appointed three nominees, to the five-person board of directors of the JV company. Under the terms of the shareholder agreement, while Nordgold is operator, Columbus Gold will be fully free carried and not required to consider contributing to spending at Montagne d'Or until such time as the board of the JV company makes a decision to construct the mine. The deadline to make a mine construction decision is Dec. 18, 2017.

"The Montagne d'Or project is a very exciting asset and plays an important part in Nordgold's growth pipeline," said Igor Klimanov, development projects director of Nordgold. "We are pleased to have obtained a controlling stake and we will now take the lead on driving its development."

"We are very pleased to have entered into the JV stage with a partner that recognizes the world-class nature of the Montagne d'Or gold deposit," said Robert Giustra, chairman and chief executive officer of Columbus Gold. "We look forward to developing Montagne d'Or with one of the world's fastest-growing gold mining companies to create long-lasting benefits for our many stakeholders."

About Columbus Gold Corp.

Columbus holds a major interest in the Montagne d'Or project in French Guiana, which hosts a world-class gold deposit with a recently completed feasibility study. Columbus is presently evaluating a number of mine construction financing options. In Nevada, Columbus is advancing its Eastside gold discovery. Eastside has outstanding infrastructure for mining and processing, and metallurgical testing indicates that gold and silver at Eastside are amenable to cyanide leaching, whether oxide or sulphide.

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