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 it has
reached a second Amended Fredonia Agreement with Grupo de Bullet to earn a 75%
interest in its Colombian mineral exploration concessions. The original Fredonia
Agreement with Grupo de Bullet ("Bullet") is described in the news release of
August 18, 2010. Colombia Crest will also open up funding to raise $300,000 at a
purchase price of $0.015 per Unit to fund continued operations and property
payments, as further detailed below.


To date, Colombia Crest has earned a 50% interest in the Fredonia group of
concessions. The next milestone is to reach 75% interest ownership. The original
Agreement required a bankable feasibility study by March 28, 2019 to reach the
75% ownership. Under the newly Amended Agreement, Bullet has agreed to allow
Colombia Crest to earn 75% by spending a minimum of US$5 million and by reaching
a minimum of one million ounces of gold in the measured and indicated status, or
complete the feasibility study before 2019. This Amended Agreement gives
Colombia Crest a much clearer milestone to deliver. 


"The flexibility and rapid response time of Grupo de Bullet in working to amend
this agreement has been a true testament to their understanding of these
difficult markets and their commitment to helping their partners in Colombia,"
commented Hans Rasmussen, President and CEO. "This amended agreement gives us
the flexibility to add ounces over time and achieve a realistic milestone by
2019."


As part of the Fredonia land package, the Company wishes to also announce that
it has returned concession 7340 to Grupo de Bullet - it consists of about
1,999.6 hectares. Therefore, under the Fredonia Agreement with Grupo de Bullet
SA, Colombia Crest now retains the rights to explore 9 concessions, which
includes six Technical Studies and three Contracts, covering approximately
13,123 hectares.


Venecia Project, Colombia

On April 2, 2013, Colombia Crest announced that it had reached an Amended
Agreement for the 1,985 hectare Venecia Project with Colombian Mines Corporation
(TSX VENTURE:CMJ) whereby cash payments could be spread out over the remainder
of 2013. However, as a result of a US$25,000 cash payment not met in July,
Colombia Crest was given a notice of default of the Venecia Agreement and was
provided 30 days from July 29, 2013, to rectify the default or the Venecia
Agreement will be terminated.


"We will do everything in our power to raise funds in the next 30 days to meet
this cash payment obligation and others that are coming in Colombia," commented
Hans Rasmussen, President and CEO. "Our intention is to meet our contractual
obligations with Colombian Mines Corporation and Grupo de Bullet, despite the
headwinds created by an oversold junior exploration equity market. Our assets in
Colombia have the same intrinsic value now has they had two years ago when we
began exploring, but the market sentiment has changed considerably in that time.
Thus, we feel that persistence is the only solution and that soon the markets
will recover."


Private Placement Financing

In order to meet certain expenditure requirements in Colombia, including the
Venecia Concession payment described above, the Company reports that it will
pursue a non-brokered private placement of units (each a "Unit") at the price of
$0.015 per Unit to raise gross proceeds of $300,000. Each Unit will be comprised
of one common share and one transferable share purchase warrant. Each warrant
will entitle the holder to purchase one additional common share at the price of
$0.05 for one year after Closing, $0.10 during the second year after Closing and
$0.15 during the third year after Closing. 


Proceeds from the financing will be used mainly for maintaining the Company's
Colombian concessions. The Company will pay finders' fees in respect of a
portion of the financing in accordance with the policies of the TSX Venture
Exchange. The proposed private placement and finder's fees are subject to TSX
Venture Exchange acceptance. All shares issued pursuant to the offering, and any
shares issued pursuant to the exercise of warrants will be subject to a
four-month hold period from the Closing date. 


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 is currently
carrying on exploration programs at the Fredonia and Venecia projects where it
has optioned over 15,000 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.


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

FOR FURTHER INFORMATION PLEASE CONTACT: 
Colombia Crest Gold Corp.
Hans Rasmussen
President and CEO
Office: 604-684-7160 or 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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