Debt Settlement With Columbus Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 2, 2015) - Columbus Exploration Corporation (TSX VENTURE:CLX) announces that it has entered into an agreement with Columbus Gold Corporation pursuant to which Columbus Exploration will transfer to Columbus Gold its Mogollon Project in consideration for the cancellation of debts owed by Columbus Exploration to Columbus Gold of $437,642. The transaction is subject to the approval of the TSX Venture Exchange, which will require Columbus Exploration to obtain disinterested shareholder approval of the transaction.

ON BEHALF OF THE BOARD,

Robert F. Giustra

President, CEO, and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.