Colombia Crest Gold Receives High-Grade Sample Results at El Retiro Target

Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX
VENTURE:CLB)(PINKSHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce the
discovery of high-grade stream sediment sample results collected from the El
Retiro target area, in the eastern portion of the Fredonia project, Middle Cauca
Belt, Colombia. A total of 16 samples were collected over about 35 square
kilometres. The sample results showed from below detection to 839 parts per
billion gold (0.84 grams per tonne). The results indicate five distinct
drainages with anomalous gold eroding from a bedrock lode-gold source - all
targets for follow up sampling. Each basin represents approximately two square
kilometres in aerial extent. The Company now has both disseminated porphyry
style and high-grade vein style gold targets on the same property.


"These samples are very promising gold grades for stream sediment sample
results, guiding us to further explore this area of the Fredonia project this
year. We saw occurrences of high-grade vein gold in this portion of the Fredonia
Project (up to 8.25 grams per tonne gold; see news release, December 20, 2010),
and these new results indicate the mineralized area is much larger than
previously thought," commented Hans Rasmussen, President and CEO. "Stream
sediment sampling is our most effective first-pass tool in this area of Colombia
because it allows our crews to samples large areas efficiently. Stream sediments
are basically the eroded, dispersed version of the same rock coming from
upstream somewhere - the next step is to find the bedrock source of the gold."


Fredonia Project

Over the past year, the Company has mainly focused on exploring the Arabia
target where geophysics combined with outcropping gold-mineralized porphyry rock
gave the team a starting point on the property. Because the phase 1 drilling has
been completed at Arabia, the geologic team now has time to evaluate some of the
other targets in the 30,000 hectare Fredonia land package, including the
Garrucha target and the newly-sampled El Retiro target area described above. 


In the eastern sector of the Fredonia project, named El Retiro, rock chip
samples taken in 2010 from a 0.8 metre channel sample returned values up to 8.25
grams per tonne gold and up to 47.5 grams per tonne silver. Gold mineralization
occurs in quartz veins, hosted in Paleozoic meta-sedimentary rocks of the
Cajamarca Complex. The area was first identified by Grupo de Bullet personnel
(announced August 18, 2010 - Option Agreement) where they had observed
small-scale artisan mining along several vein-structures in the area. Numerous
veins in outcrop were also identified for follow-up on future field campaigns.
As a first pass, stream sediment sampling is the most effective tool in this
evaluation phase because of its efficiency at evaluating such a large area
fairly quickly. Based on the results above, additional stream sediment sampling
will continue, along with rock chip sampling on new mineralized outcrops that
might exist.


At Garrucha porphyry target, a second pass of stream-sediment sampling program
was completed and results yield anomalous gold up to 98 parts per billion
showing a clear anomalous area on the north-east part of the concession 7350-B.
Multivariate statistics have been applied to data indicating a probable Cu-Mo-Au
porphyry mineralization style. These are coincident with magnetic anomalies and
will lead to additional field work, e.g. soil sampling and rock chip sampling,
trenching and eventually drilling if warranted. These anomalies are located less
than five kilometres south of the La Mina project, currently being explored by
Bellhaven Copper and Gold (TSX VENTURE:BHV).


Sample Analysis

All stream sediment samples were sent to the AcmeLabs Prep Laboratory in
Medellin, Colombia. The chosen preparation method was direct in-situ sample
sieving up to -200 ASTM mesh (75 microns) to avoid lab crushing. About 100 grams
of sediment sample was sent to lab in Colombia for drying. After drying, sample
was re-sieved using the same mesh (to avoid lumps) and the fine fraction was
sent to AcmeLabs in Vancouver, Canada for analysis using 15 grams of pulp sample
by the analytical package code 1F-MS, which corresponds to ICP mass spectroscopy
(multi element package of 37 elements including gold, silver, base metals and
pathfinder elements); gold detection limits are 0.2 parts per billion to 100
parts per million. The ICP multi-element analysis uses aqua regia digestion
prior to analysis.


The technical information in this news release has been reviewed and approved by
John Bolanos, a Qualified Person in accordance with National Instrument 43-101
Standards of Disclosure for Mineral Projects.


About Colombia Crest Gold Corp.

Colombia Crest Gold Corp. is focused on systematically exploring, developing and
monetizing promising new gold projects in Colombia. The Company employs a team
of seasoned geologists, many with 20+ years of experience exploring and
discovering porphyry deposits around the world, including Argentina, Peru,
Ecuador, Mexico, Alaska, Indonesia, and Eastern Europe. 


The Company is currently carrying on exploration programs at the Fredonia and
Venecia projects where it has optioned over 30,000 hectares located
approximately 40 km south of the city of Medellin, in Antioquia Province. The
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
hans@colombiacrestgold.com


Colombia Crest Gold Corp.
Dan Fish
Manager, Corporate Communications
Direct: 1-888-228-4305
dan@colombiacrestgold.com
www.ColombiaCrestGold.com
Colombia Crest Gold Corp. (TSXV:CLB)
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