CLB Colombia Crest Gold Corp

Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX
VENTURE:CLB)(PINKSHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce that is has
signed a 2,000 metre minimum diamond drilling contract with AK Drilling
International, S.A.S., adding to its existing 3,000 metre drill program with
Canadian Drill Corporation to drill a total of 5,000 metres. With a second drill
rig, the Company will accelerate the completion of its previously announced
5,000-metre, Phase I drill program within the Arabia Porphyry Complex. To
facilitate a second rig, the Colombian environmental agency, Corantioquia,
granted the Company its water pumping permit on July 13. The permit allows water
to be pumped from local creeks to supply diamond drilling operations over a
period of 14 months. 


"Based on drill core logs from our first five holes at Arabia, we are eager to
add a second drill rig to accelerate the program," commented Hans Rasmussen,
President and CEO. "We are really pleased by our visual observations of the
core. All holes drilled to date exhibit intense hydrothermal alteration and
disseminated sulfide mineralization suggesting the core intersects porphyry
style disseminated gold mineralization. Each hole we drill improves our
understanding of the size, zonation and intensity of the gold-rich porphyry
copper system. The water pumping permit required about five months to process,
and is essential for the addition of the second diamond drill rig to accelerate
the program."


AK Drilling is currently mobilizing a Sandvik DE710 track mounted diamond drill
rig with capacity to drill 680 metres of HQ sized core and 1,000 metres of NQ
sized core. The addition of the powerful track mounted rig will significantly
boost meterage and accelerate progress towards the initial goal of 5,000 metres
of drilling. AK Drilling also plans to mobilize a Hydracore 4000 man portable
rig once available to test areas unreachable by existing roads. 


The Arabia area is located just 10 kilometres west of Bellhaven Copper and
Gold's (TSX VENTURE:BHV) La Mina project and 15 kilometres south of Sunward
Resources' (TSX VENTURE:SWD) Titiribi project. The Arabia Porphyry targets lie
partially on a concession that is held under the Venecia Agreement with
Colombian Mines Corporation ((TSX VENTURE:CMJ) see news release dated April 5,
2011) and partially on one of the 18 concessions held under the Fredonia
Agreement with Grupo de Bullet (see news release dated August 25, 2011). 


Changes to Mineral Title on Fredonia Project

The Company has notified Grupo de Bullet that as it has completed evaluation of
15 mineral concessions, covering 4,488 hectares, and releases them from the
Grupo de Bullet joint venture pursuant to the original Fredonia Agreement. The
concessions retained by Colombia Crest following its reduction under the
Fredonia Agreement now include four Contracts of Concession and 14 Technical
Studies for a total of 18 exploration concessions covering 29,000 hectares. 


Appointment

Apollos Management LLC ("Apollos"), which has been providing corporate
communication services to the Company, has now also been appointed to handle the
Company's investor relations activities. 


Apollos is an Oregon based company owned by Daniel Fish, who has almost 30 years
of experience in the investment banking and advertising businesses, including as
a registered investment advisor with several major U.S. banks and investment
firms. Mr. Fish holds a B.Sc. in Communications from the University of Oregon.
On behalf of Apollos, he will be responsible for the dissemination of corporate
data packages, broker presentations, broker communications, mining analyst
communications, attending trade shows and handling all shareholder enquiries
regarding the Company.


For its services, Apollos will receive US$10,000 per month payable in arrears.
Apollos or the Company may terminate the agreement at any time on 30 day's
written notice. The arrangement with Apollos is subject to acceptance by the TSX
Venture Exchange. 


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 deposit around the world,
including Argentina, Peru, Ecuador, Mexico, Alaska, Indonesia, and Eastern
Europe. 


Along with a strong working capital position, the Company will accelerate the
exploration programs at the Fredonia and Venecia projects where it has optioned
over 34,000 hectares (81,600+ acres) located in the Cauca River Valley. Situated
approximately 40 km south of the city of Medellin, in Antioquia Province, the
properties are positioned within the Middle Cauca Belt, which is the most
prolific gold belt in Colombia with more than 500 years of gold-mining history
and several new gold discoveries. 


Forward-Looking Statements

This press release contains or refers to forward-looking information, including
statements regarding exploration results, potential mineralization, exploration
plans and timing of the commencement of drilling, and is based on current
expectations that involve a number of business risks and uncertainties. Factors
that could cause actual results to differ materially from any forward-looking
statement include, but are not limited to, delays in obtaining or failures to
obtain required governmental, environmental or other project approvals,
political risks, uncertainties relating to the availability and costs of
financing needed in the future, changes in equity markets, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of
projects and the other risks involved in the mineral exploration and development
industry. Forward-looking statements are subject to significant risks and
uncertainties, and other factors that could cause actual results to differ
materially from expected results. Readers should not place undue reliance on
forward-looking statements. These forward-looking statements are made as of the
date hereof, and the Company assumes no responsibility to update them or revise
them to reflect new events or circumstances other than as required by law.


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 www.ColombiaCrestGold.com.

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