Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX
VENTURE:CLB)(PINK SHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce that the
Venecia project concession was signed on September 22, 2011 to Contract status
by the governor of Antioquia Province. Venecia is an earn-in agreement with
Colombian Mines Corp. where Colombia Crest has the right to earn up to 75%
interest in the 1,985 hectare Venecia Property. The Venecia property was
acquired for its strategic location and geologic potential - it lies within and
is surrounded by several concessions that are part of the Fredonia earn-in
agreement, which Colombia Crest has optioned from Grupo de Bullet.


"The signing of Venecia means that we have the right to drill on the concession
(pending Provincial approvals), which holds the majority of the newly discovered
Arabia porphyry gold system," reported Hans Rasmussen, President & CEO. "Our
field crews are currently doing an extensive soil sampling, rock chip sampling
and geologic mapping program over Arabia. Based on their recent observations,
Arabia is now believed to have multiple porphyry gold-copper systems emplaced in
an area that covers at least two kilometres east-west by one kilometre
north-south. Results from the current field program will be used to guide our
drilling program."


The Venecia project was selected as part of Colombia Crest's project generation
program which is focused on large-scale porphyry-gold properties in the
300-kilometre long, prolific Middle Cauca Belt of Colombia. The belt extends
from AngloGold-Ashanti's 16.2 million ounce La Colosa gold project through
Colombia Crest's Fredonia and Venecia projects to the north of Medellin. The
Venecia concession adjoins the western edge of the La Mina concession, where
Bellhaven Copper and Gold recently announced a one million ounce gold resource.
Venecia lies approximately 10 kilometres south of Sunward Resources 8.3 million
ounce Titiribi project and 20 km north of AngloGold Ashanti/B2Gold's Quebradona
gold-copper porphyry project, where drill intercepts of up to 380 metres of 1.15
grams per tonne gold have been reported. Located about 40 kilometres south of
Venecia, the Middle Cauca Belt also hosts the 500 year-old Marmato mining
district with recently-announced NI 43-101 compliant resources of over 12
million ounces gold (see Gran Colombia's website for the NI 43-101 report). 


Paved and gravel roads provide excellent year-round access to the Property from
Medellin (2 hours) and Venecia (15 minutes). Adequate supplies of power and
water are situated on and near the property, and an adequate workforce is
readily available from the nearby towns of Venecia, Fredonia and Bolombolo. The
primary surface use of the property is agricultural, consisting of cattle
grazing, coffee plantations and citrus groves.


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. The Company
employs a team of seasoned geologists, each with 20+ years of experience
exploring and discovering this type of porphyry gold-copper deposit around the
world, including Argentina, Mexico, Alaska, Indonesia, and Eastern Europe.


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. 


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.


Please visit the Company's website at http://www.ColombiaCrestGold.com.
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