CLB Colombia Crest Gold Corp

Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX
VENTURE:CLB)(PINKSHEETS:ECRTF)(FRANKFURT:EAT) wishes to announce that effective
today, the Company has concluded its option to purchase agreement for the 1,985
hectare Venecia Project with Colombian Mines Corporation (TSX VENTURE:CMJ) for
reasons of cash flow and maximizing exploration properties held by Colombia
Crest.


As announced on August 1, 2013, as a result of a US$25,000 partial cash payment
originally due March 30, 2013 that had been extended, as previously announced,
and was due in July, Colombia Crest was given a notice of default of the Venecia
Agreement and was provided 30 days, to rectify the default. The Company was not
able to meet this obligation and has decided instead to prioritize its funding
and exploration efforts on the Fredonia Project and the evaluation of the
Machacala Project, Peru (news release dated August 16, 2013). 


"As announced on August 1st, we did everything in our power to raise the funds
needed to meet this obligation in order to continue with work on Venecia,"
commented President and CEO Hans Rasmussen. "In 2012, we did an aggressive
6,500-metre drill program and despite a new porphyry gold-copper discovery at
the Arabia Target area, the market didn't reward us - given the market's support
for near-term production and high-grade gold resources, we have decided to focus
our limited resources on the evaluation of Machacala, and consider ways to
explore or monetize our various concessions that are still held under the
Fredonia Agreement in Colombia."


About Colombia Crest Gold Corp.

Colombia Crest Gold Corp. is focused on systematically exploring, developing and
monetizing promising new gold projects in the Americas. The Company is currently
evaluating the Machacala Project, Peru and is reviewing its Fredonia Project,
Colombia, which comprises over 13,000 hectares under option located
approximately 40 km south of the city of Medellin, in Antioquia Province. The
Colombia properties are positioned within the Middle Cauca Belt, the most
prolific gold belt in Colombia with more than 500 years of gold 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Colombia Crest Gold Corp.
Hans Rasmussen
President and CEO
Office: 604-684-7160
Cellular: 801-554-2074
hans@colombiacrestgold.com


Colombia Crest Gold Corp.
Chelsea Jones
Corporate Communications
Cellular: 604-354-2435
chelsea@colombiacrestgold.com
www.ColombiaCrestGold.com

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