CLB Colombia Crest Gold Corp

Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX
VENTURE:CLB)(PINK SHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce that it
has more than doubled its mineral title holdings to 32,215.7 hectares from the
original 15,065.8 hectares. This is the result of five Applications for mineral
concession contracts being given Technical Study status by the Colombian
government. The rights to all five properties are held by the Company under its
Fredonia Agreement with Grupo de Bullet as described in its news release dated
August 18, 2010. 


"This is a huge and very strategic addition to our Fredonia land holdings - with
the current moratorium on new Applications, the Colombian government has
accelerated its granting of Technical Study status to exploration companies with
existing Applications," commented the Company's President and CEO Hans
Rasmussen. "The benefit of Technical Study status is that we now know the
geographic limits of our mineral properties - we can begin to study surface
areas with both geologic mapping and geochemical sampling. As announced on
August 25, 2011, we are working diligently to attain the required mineral title,
or concession Contract status, on those areas that we consider have the best
chance for porphyry-style gold-copper mineralization. This recent advance to
Technical Study status on five properties is a major step forward. The Company
is well funded to be able to pursue drilling permits for and to drill our best
targets as soon as the required concession contracts and subsequent drill
permits are issued." 


Additionally, the Company has notified Grupo de Bullet that it has elected to
abandon 13 mineral concessions and return them to Bullet pursuant to the
original Fredonia Agreement, which originally provided the Company with rights
in respect of 29 mineral concessions. In detail, Colombia Crest has returned
five Applications, five Technical Studies and three Contracts, all of which
related to concessions which the Company considers to have a low probability for
discovery of porphyry style gold-copper mineralization. The concessions retained
by Colombia Crest now include four Contracts, nine Technical Studies and three
mineral Applications, for a total of 16 concessions.


"Our technical and legal teams have been working diligently to evaluate which of
the original 29 concessions have the highest probability for discovery," stated
Hans Rasmussen. "Because there is a fee paid to the government and legal fees to
hold Technical Study and Contract-level mineral concessions, we have been
focused on the task of exploring only the best concessions. Our new holdings
cover a core area that we believe has the highest chance for discovery of
porphyry-style gold-copper mineralization." 


On April 11, 2011, the Company announced that after combining the geophysical
data with the Company's geochemical database, nine new, high-quality porphyry
gold-copper targets have been identified; seven at the Fredonia property and two
at Venecia. The target areas, each of which covers between three and ten square
kilometres, have already been prioritized for follow-up field work. Subsequent
to receiving the final geophysical data, the Company contracted Patterson, Grant
and Watson in Toronto to complete an independent geophysical interpretation
whereby 13 porphyry targets were identified independently. While some of the 13
new targets overlap with the original nine, the Company's geologic team has used
all of these targets to prioritize mineral concessions and to begin field review
of each. 


While reconnaissance field work is continuing on the 20+ target areas mentioned
above, soil sampling, mapping and rock chip sampling of any available outcrop
has begun on the Arabia porphyry target. Once assay results have been received,
Colombia Crest will move forward to permit targeted drill sites on Arabia. 


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. Industry
experts with three decades of gold discoveries lead the management and technical
teams at Colombia Crest Gold. 


With its strong working capital position, the Company will accelerate the
exploration programs at the Fredonia and Venecia projects in Colombia. These
projects cover over 34,000 hectares in the Middle Cauca Belt, which is the most
prolific gold belt in Colombia with more than 500 years of mining history and
several new gold discoveries. 


The Company is focused on grass-roots discovery of porphyry-style gold-copper
resources, like Titiribi (Sunward Resources), La Cantera (Bellhaven Copper and
Gold) and Quebradona (AngloGold-Ashanti), which are all located in close
proximity to our Fredonia and Venecia Colombian projects. 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,
Mexico, Alaska, Indonesia, and Eastern Europe.


If you would prefer to receive news releases via email please contact Colombia
Crest (info@colombiacrestgold.com) and specify "Colombia Crest news" in the
subject line.

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