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Columbus Gold Announces Positive Bankable Feasibility Study for Montagne d'Or Gold Project, French Guiana

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/20/17 -- Columbus Gold Corp. (TSX: CGT)(OTCQX: CBGDF) ("Columbus") is pleased to announce the results of the independent Bankable Feasibility Study prepared in accordance with National Instrument 43-101 ("NI 43-101") for its Montagne d'Or Gold Project ("Montagne d'Or" or "Project") located in French Guiana. The NI 43-101 Technical Report will be filed on SEDAR within 45 days of the date of this news release. The Bankable Feasibility Study was finalized on-time under an accelerated three-year timeline which required among other things, substantial drilling, completion of three resource estimates, a preliminary economic assessment (PEA), numerous associated technical reports, community consultations, and comprehensive environmental studies.

Columbus has retained a third-party consultant to review the Bankable Feasibility Study and underlying resource and reserve models.

Robert Giustra, CEO of Columbus, commented: "The completion of the Bankable Feasibility Study is a major milestone in the advancement of what is clearly a significant gold deposit with substantial potential. With the base-case and fundamental underlying economics now well understood, that potential is being immediately pursued with further exploration drilling, which is already underway on strike east and west, with one hole completed at depth beneath the pit. In addition, a near-term program is being considered to infill drill the higher-grade portion of nearly 1 million resource pit constrained, Inferred ounces."

Mr. Giustra further stated: "In parallel with additional drilling, Columbus is evaluating a number of indications of interest it has received to fund mine construction, the next logical step for the development of the Montagne d'Or deposit."

Bankable Feasibility Study Highlights


--  Net Present Value ("NPV") of US$370 million (approx. C$500 million at
    1.35 USDCAD exchange rate) after tax (at a 5% discount rate);
--  Internal Rate of Return ("IRR") of 18.7% after tax, at an assumed gold
    price of US$1,250 per ounce ("oz");
--  Reserves calculated at a gold price of US$1,200/oz;
--  Proven & Probable Mineral Reserves of 2,745,000 oz gold ("Au") (54.1
    million tonnes ("Mt") at 1.58 grams per tonne ("g/t") Au), a subset of
    the Measured and Indicated Resources of 3,850,000 oz Au (85.1 Mt at 1.41
    g/t Au, using a cut-off grade ("CoG") of 0.4 g/t and a US$1,300/oz Au
    price);
--  Life-of-mine ("LOM") production of approximately 2,572,000 oz Au;
    214,000 oz per year, over a 12-year mine life, using an average overall
    gold recovery of 93.8% that results in an average LOM Total Cash Cost of
    US$666/oz and LOM All-In Sustaining Costs ("AISC") of US$779/oz;
--  Average annual gold production of 237,000 oz over the first ten years of
    mine life at an average grade of 1.73 g/t Au that results in an average
    AISC of US$749/oz;
--  Total Net Initial Capital Costs (including pre-stripping and
    contingency, less surplus tax credit refunds) of US$361 million (table
    below for Capital Costs breakdown), with an After-tax Payback Period of
    4.1 years, and LOM Sustaining Capital Costs of US$231 million. LOM
    contingency rate of 9.5% is included in the estimate; and
--  Estimated employment during the peak of construction of 900 jobs, and
    the creation of 658 permanent direct jobs, not counting service
    providers' personnel working exclusively for the Project, and up to an
    estimated 3,000 indirect jobs during operation. Most of the mine
    personnel will be employed from within French Guiana.

Project Enhancement Opportunities

Following an evaluation of the Bankable Feasibility Study, Columbus believes the following improvements to the Project can be made:


--  Certain Capital Costs can be optimized, subject to sourcing improved
    budget quotations from suppliers.
--  SRK has identified Inferred Resources located within the resource pit of
    960,000 oz Au (20.2 Mt at 1.484 g/t Au, using a CoG of 0.4 g/t Au and a
    US$1,300/oz Au price). Infill drilling has the potential to convert some
    of these Inferred ounces to higher resource classification. Columbus and
    Nordgold are considering undertaking 4,300 meters (m) of infill
    drilling, at an estimated cost of US$1.5 million. The drilling is being
    assessed for commencement in Q2 2017 subject to obtaining the required
    drilling permits.
--  There is a potential to lower the CoG used for reserves if gold prices
    increase, and with optimization of operating costs used in the CoG
    calculations. This has the potential to convert some additional Measured
    and Indicated Resources within the current designed pit into Proven and
    Probable Reserves.
--  Columbus is looking into opportunities to refine the pit designs which
    could have the potential to increase reserves.
--  On February 13, 2017, Columbus announced commencement of an exploration
    drilling program at Montagne d'Or. The program consists of 36 core
    holes, for a total of 5,520 m, designed as a first pass investigation of
    exploration targets on strike of, and in very close proximity of the
    currently defined reserves. Four targets will be tested: 1) four widely-
    spaced drill hole fences will test the west strike extent of the deposit
    up 1.25 kilometers west of the current resource; 2) the Gustave
    geochemical anomaly located 500 m east of the Montagne d'Or deposit
    where a historical drill hole intersected 3.5 m of 31.94 g/t; 3)
    potential mesothermal quartz-gold vein systems within 1,000 m north of
    the deposit; and, 4) one hole under the deposit to test the down-dip
    extent of the principal mineralized zones. See link for news release of
    February 13, 2017:
    www.columbusgoldcorp.com/s/NewsReleases.asp?ReportID=778413

Bankable Feasibility Study Metrics



----------------------------------------------------------------------------
Mine and Operating Metrics
----------------------------------------------------------------------------
Reserves (calculated at US$1,200 Au) (oz)                          2,745,000
LOM Payable Gold (oz)                                              2,572,000
Average Annual Production, LOM (oz)                                  214,000
Average Annual Production, Years 1-10 (oz)                           237,000
LOM (years)                                                               12
Strip Ratio                                                              4.5
Average Grade, LOM (g/t)                                                1.58
Average Grade, Years 1-10 (g/t)                                         1.73
Mining Cost (US$/t mined)                                              $2.44
Mining Cost (US$/t processed)                                         $13.01
Processing Cost (US$/t)                                               $11.49
Site G&A/Other (US$/t processed)                                       $4.27
----------------------------------------------------------------------------

----------------------------------------------------------------------------
All-in Sustaining Costs ("AISC")                     US$000's         US$/oz
----------------------------------------------------------------------------
  Mining                                              704,040            274
  Processing                                          621,830            242
  Site G&A/Other                                      233,052             90
----------------------------------------------------------------------------
Direct Cash Costs                                  $1,558,922           $606
----------------------------------------------------------------------------
Royalties                                             153,374             60
----------------------------------------------------------------------------
Indirect Cash Costs                                  $153,374            $60
----------------------------------------------------------------------------
Total Cash Costs                                   $1,712,296           $666
----------------------------------------------------------------------------
Sustaining Capital Costs                              231,120             90
Closure/Reclamation                                    60,659             24
----------------------------------------------------------------------------
Sustaining Costs                                     $291,780           $113
----------------------------------------------------------------------------
AISC - LOM (includes closure/reclamation)(i)       $2,004,076           $779
----------------------------------------------------------------------------
AISC - Years 1-10                                  $1,775,285           $749
----------------------------------------------------------------------------
(i) LOM AISC excluding closure/reclamation -
 US$756/oz.
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Capital Costs                                                       US$000's
----------------------------------------------------------------------------
Mine Construction Capital Costs                                      443,000
Add: Pre-stripping                                                    52,000
Add: Contingency                                                      40,000
----------------------------------------------------------------------------
Total Initial Capital Costs Before Surplus Tax
 Credit Refunds                                                      535,000
Less: Initial Capital Costs Surplus Tax Credit
 Refunds                                                           (174,000)
----------------------------------------------------------------------------
Total Net Initial Capital Costs After Surplus
 Tax Credit Refunds                                                 $361,000
Sustaining Capital                                                   231,000
Closure/Reclamation Capital                                           61,000
----------------------------------------------------------------------------
Total LOM Capital                                                   $653,000
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Economics (based on US$1,250 Au)                                    US$000's
----------------------------------------------------------------------------
After-tax NPV at 5%                                                  370,000
After-tax IRR                                           18.7%
Pre-tax NPV at 5%                                                    507,000
Pre-tax IRR                                             22.2%
After-tax Payback Period From Start of
 Production (years)                                       4.1
After-tax Free Cash Flow                                             660,000
----------------------------------------------------------------------------
Note: EURUSD Exchange Rate is US$1.05:EUR1.00.

The Bankable Feasibility Study was funded by Nord Gold SE ("Nordgold") pursuant to which it has earned a 50.01% interest in the Project. Nordgold was required to spend a minimum of US$30 million and complete a Bankable Feasibility Study by March 13, 2017. Nordgold has met the minimum spending requirement and delivered the Bankable Feasibility Study to Columbus by the March 13, 2017 deadline. Nordgold acquired an additional 5% interest in the Project (for a total interest of 55.01%) pursuant to a share purchase agreement dated January 12, 2016. Nordgold has delivered a notice of option exercise to Columbus to acquire its total 55.01% interest in the Project.

Mineral Resource Estimate

The Mineral Resource Estimate is supported by 349 diamond core and reverse circulation drillholes. The drilling was completed in two main campaigns. A previous property owner drilled 56 holes between 1996 and 1998. Columbus completed an additional 293 holes from 2011 to March, 2016. The Columbus drilling was accompanied by an industry standard Quality Assurance/Quality Control program providing good confidence in the sampling, sample preparation and analytical results.

The Mineral Resource is confined mainly within a grade shell which encloses anomalous gold mineralization at a 0.3 g/t Au threshold. The grade estimation was conducted in eight domains. Four rock groups were used and each rock group was estimated independently both internal and external to the grade shell using only samples from the same domain. An Inverse Distance Weighting Squared algorithm was used for the grade estimations. Industry standard validation methods were used to evaluate the results. The Mineral Resources are classified according to CIM Guidelines into Measured, Indicated and Inferred categories based mainly on average drillhole spacing.

The Montagne d'Or Mineral Resource Statement is presented in the table below. The resource is confined within a Whittle™ optimization pit shell and a CoG of 0.4 g/t Au is applied. The pit shell and CoG assumes open-pit mining methods and is based on a mining cost of US$2/t mined, milling cost of US$15/t ore, administration cost of US$1/t ore, a gold price of US$1,300/oz, 95% gold recovery, gold refining cost of US$8/oz, and 5% net smelter return (NSR) royalty. A 45 degrees pit shell slope was used for bedrock and a 35 degrees pit shell slope was used for saprolite. The reported Mineral Resources include material from all estimation domains.

Montagne d'Or Mineral Resource Statement as of July 1, 2016



----------------------------------------------------------------------------
                                  Au CoG      Tonnes          Au   Contained
Classification                     (g/t)         (M)       (g/t)    Au (Moz)
----------------------------------------------------------------------------
Measured                             0.4        10.3       1.804        0.60
----------------------------------------------------------------------------
Indicated                            0.4        74.8       1.350        3.25
----------------------------------------------------------------------------
M & I                                0.4        85.1       1.405        3.85
----------------------------------------------------------------------------
Inferred                             0.4        20.2       1.484        0.96
----------------------------------------------------------------------------

--  The Montagne d'Or Mineral Resource Statement was prepared by SRK
    Consulting (U.S.), Inc. in accordance with NI 43-101, with an effective
    date of July 1, 2016.
--  Mineral Resources that are not Mineral Reserves do not have demonstrated
    economic viability. The estimate of Mineral Resources may be materially
    affected by environmental, permitting, legal or other relevant issues.
    The Mineral Resources have been classified according to the CIM
    Definition Standards for Mineral Resources and Mineral Reserves in
    effect as of the date of this news release.
--  All figures were rounded to reflect the relative accuracy of the
    estimates.
--  Metal assays were capped where appropriate.
--  Mineral Resources are reported based on a CoG of 0.4 g/t Au, and are
    reported inside a conceptual pit shell based on appropriate mining and
    processing costs and metal recoveries for oxide and sulphide material.
--  CoGs are based on a mining cost of US$2/t, milling cost of US$15/t,
    administration cost of US$1/t, a gold price of US$1,300/oz, 95% gold
    recovery, gold refining cost of US$8/oz, and 5% NSR royalty.
--  In accordance with NI 43-101, the Technical Report to be filed on SEDAR
    will only incorporate Measured and Indicated Resources in its
    calculations, and will exclude Inferred Resources.
--  Moz = million ounces.

Mineral Resource Sensitivity

The Mineral Resources are presented at a range of CoGs, subdivided by resource classification. All resources are confined within the Whittle™ optimization pit shell.

Mineral Resource Sensitivity (1)



------------------------------------------------------------
                   Measured and Indicated
------------------------------------------------------------
                        Tonnes             Au             Au
        Cut-off            (M)          (g/t)          (Moz)
------------------------------------------------------------
            0.3           91.5          1.332           3.92
        0.4 (2)           85.1          1.405           3.85
            0.5           76.6          1.511           3.72
            0.6           68.1          1.631           3.57
            0.7           60.4          1.757           3.41
            0.8           53.5          1.886           3.24
            0.9           47.7          2.014           3.09
            1.0           42.6          2.141           2.93
------------------------------------------------------------
                          Inferred
------------------------------------------------------------
                        Tonnes             Au             Au
        Cut-off            (M)          (g/t)          (Moz)
------------------------------------------------------------
            0.3           21.4           1.42           0.98
        0.4 (2)           20.2          1.484           0.96
            0.5           18.6          1.571           0.94
            0.6           17.1          1.664           0.91
            0.7           15.6          1.758           0.88
            0.8           14.2          1.856           0.85
            0.9           12.9          1.957           0.81
            1.0           11.8          2.052           0.78
------------------------------------------------------------
(1) Tonnes and grade have been rounded to reflect the level of expected
accuracy.
(2) Base resource case CoG.

Mineral Reserve Estimate

Mineral Reserves were determined based on a gold price of US$1,200/oz Au. Reserves stated are as of September 1, 2016. The ore material is converted from Mineral Resources to Mineral Reserves based on positive Project cash flow results, pit design and geological classification of Measured and Indicated Resources.

Montagne D'Or Mineral Reserve Estimate as of September 1, 2016



-------------------------------------------------------------
                                                    Contained
Class                              Mt    Au (g/t)    Au (Moz)
-------------------------------------------------------------
Proven Reserves                  8.25        1.99        0.53
Probable Reserves               45.87        1.50        2.22
-------------------------------------------------------------
Proven and Probable             54.11        1.58        2.75
-------------------------------------------------------------

--  The ore reserves were estimated by Bret C Swanson, BE (Min) MMSAQP
    #04418QP, a Qualified Person.
--  Mineral Reserves have an effective date of September 1, 2016. All
    Mineral Reserves in this table are Proven and Probable Mineral Reserves.
    The Mineral Reserves are not in addition to the Mineral Resources, but
    are a subset thereof.
--  Mineral Reserves are reported at varied cut-offs dependent on
    lithological rock types, economics and estimated metallurgical recovery.
    Felsic Tuffs have CoG of 0.617 g/t Au, Granodiorites have a CoG of 0.622
    g/t Au, Mafics have a CoG of 0.665 g/t Au, Saprolite and Saprock have a
    CoG of 0.552 g/t Au.
--  Associated metallurgical recoveries have been estimated as 93.8% for
    Felsic Tuffs, 95.2% for Granodiorites, 91.3% for Mafics and 96.4%
    Saprolite/Saprock.
--  Full mining recovery assumed.
--  Reserves have no additional dilution added to that that inherent in the
    selective mining unit of 5 m x 5 m x 5 m diluted mine block model.
--  Reserves are based on a US$1,200/oz Au price and an exchange rate of
    US$1.10:EUR1.00.
--  Reserves are converted from resources through the process of pit
    optimization, pit design, production schedule and supported by a
    positive cash flow model.
--  Rounding as required by reporting guidelines may result in summation
    differences.

Mining and Processing

Mining

The Montagne d'Or mine will be an open pit mine operation. The conversion of Mineral Resources to Mineral Reserves resulted in a diluted Mineral Reserve Estimate of 54.1 Mt at a grade of 1.58 g/t Au, resulting in a contained total of 2.75 Moz Au in situ prior to metallurgical recovery.

The ultimate open pit design has been separated into eight mine design phases for sequenced extraction for the mining production schedule, and has a stripping ratio of 4.5 to 1 (waste to ore tonnage). The mine production schedule is based on feeding the ore processing facility operating at a rate of 4.5 Mt per year, however, ore is mined in excess this rate so that marginal low-grade can be stockpiled (and processed at the end of the mine life). The mining plan consists of two years of limited pre-stripping (prior to ore processing start-up), ten years of open pit mining, and two years of low-grade ore stockpile re-handling to feed the mill.

Two waste rock dumps, the West Dump and Central Dump, are located north of the open for placement of waste material. These are near the open pit to reduce the waste haulage cycle times for trucks.

Because of the significant rainfall, terrain and saprolite, a mixed mining equipment fleet mining was planned. The initial fleet was planned to consist of two (6.7 m3 capacity) excavators loading a fleet of nine (40 t) articulated dump trucks ("ADTs"). The ADTs will be used for pioneering excavation and most of the saprolite mining. As the open pit expands a larger mining fleet will be introduced consisting of three (12.0 m3 capacity) excavators and 17 (91 t) rear dump trucks to perform most of the bulk mining production.

Processing

The process plant design criteria were derived from the metallurgical test work results. The Project adopted a robust metallurgical flowsheet designed for optimum recovery with minimum operating costs, and utilizes unit operations that are well proven in the industry. The plant layout provides ease of access to all equipment for operating and maintenance requirements whilst maintaining a compact footprint to minimize environmental impact.

The key specific criteria for the plant design were:


--  4.5 Mt per year (12,330 t per day) throughput based on the design ore
    blend;
--  Mill utilization of 91.3% ; and
--  Sufficient instrumentation and automation to enable stable process
    operations and to facilitate safe operation.

The Montagne d'Or plant has been designed to treat the range of ore types and blends that will be mined over the life of the Project. The treatment plant design incorporates the following unit process operations:


--  Primary jaw crushing;
--  A crushed ore surge bin with a dead stockpile;
--  A single stage semi-autogenous grinding circuit with recycle crushing
    circuit to produce an 80% passing 75 micron grind size;
--  Gravity concentration and removal of coarse gold from the milling
    circuit recirculating load;
--  Pre-leach thickening;
--  Leach/carbon-in-leach circuit incorporating a leach tank and six carbon-
    in-leach tanks with carbon for gold adsorption;
--  An elution circuit treating loaded carbon, electrowinning and gold
    smelting to produce dore;
--  Tails wash thickener;
--  A sulphur dioxide/air cyanide destruction circuit to reduce the tailings
    weak-acid dissociable cyanide concentration to below 10 parts per
    million; and
--  Tailings pumping to the tailings storage facility.

The Project is approximately 120 km by road from the nearest major settlement, Saint-Laurent-du-Maroni, which has good transport links, communications services and with connection to the regional power grid. A 106 km, 90 kilovolts overhead powerline is planned to connect the site to the existing power grid.

Sensitivity

Gold price sensitivity shows that the after-tax Project NPV 5% changes approximately US$1.24 million for every US$1 change in gold price, either upwards or downwards.

Sensitivity Analysis at Various Gold Price Points



--------------------------------------------------
     Gold Price            [email protected]%           IRR
      (US$/oz)         (US$ millions)       (%)
--------------------------------------------------
         971           $0 (Breakeven)       5.0
        1,200                307           16.8
  1,250 (Base Case)          370           18.7
        1,300                433           20.4
        1,400                557           23.7
        1,500                681           26.7
--------------------------------------------------

Discount rate sensitivity is important due to the remote location of the Project, in a jurisdiction that has little organized mining activity. Discount rate sensitivity shows that the after-tax Project NPV is positive as currently designed, up to an 18.5% discount rate.

Sensitivity Analysis at Various Discount Rates



----------------------------------------
                           [email protected]%
    Discount Rate      (US$ millions)
----------------------------------------
         0%                  660
   5% (Base Case)            370
         10%                 185
         15%                 63
         20%                (19)
----------------------------------------

The Project is also sensitive to the EURUSD exchange rate as operating costs are approximately 77% Euro-based while Capital Costs are approximately 66% Euro-based. The remaining costs are mainly USD-based. EURUSD exchange rate sensitivity shows that the after-tax Project NPV 5% changes approximately US$12 to 13 million for every 100 basis point change in the exchange rate, either upwards or downwards.

Sensitivity Analysis at Various EURUSD Rates



--------------------------------------------------
                           [email protected]%           IRR
     EURUSD Rate       (US$ millions)       (%)
--------------------------------------------------
        0.95                 497           23.0
        1.00                 434           20.9
  1.05 (Base Case)           370           18.7
        1.10                 304           16.4
        1.16                 235           14.0
--------------------------------------------------

Operating Costs and Capital Costs

Based on an exchange rate of US$1.05:EUR1.00, the Project has total operating costs of US$28.76/t processed and LOM Capital Costs of US$827 million including final closure and reclamation. An overall contingency rate of approximately 9.5% has been applied to capital items. Some of the major assumptions underlying the cost estimates are:


--  Diesel Fuel: EUR1.24/litre (preproduction phase), EUR1.14/litre
    (production phase).
--  Grid Power: EUR0.113/kilowatt-hour (production phase).

Operating Cost Summary



---------------------------------------------
Operating Costs in 000's           US$ @ 1.05
---------------------------------------------
Mining                                704,040
Process                               621,830
Site G&A                              230,677
---------------------------------------------
Total Operating Costs              $1,556,547
---------------------------------------------
Operating Cost Unit Rates         US$/t Proc.
---------------------------------------------
Mining ($/t mined)                       2.44
Mining ($/t processed)                  13.01
Process                                 11.49
Site G&A                                 4.27
---------------------------------------------
Total Operating Costs                  $28.76
---------------------------------------------

Life-of-Mine Capital Costs (US$000's)



---------------------------------------------
Description                        US$ @ 1.05
---------------------------------------------
Initial Capital Costs
Preproduction Costs                    52,003
Mining                                 69,047
TSF/Process/Infrastructure            403,991
Water Management                       10,150
---------------------------------------------
Total Initial Capital                $535,191
---------------------------------------------
Sustaining Capital Costs
Mining                                 61,208
Process                                     -
Infrastructure                         13,477
TSF                                   151,282
Water Management                        5,154
---------------------------------------------
Total Sustaining Capital             $231,120
---------------------------------------------
Total Capital Costs
Preproduction Costs                    52,003
Mining                                130,255
TSF/Process/Infrastructure            403,991
Infrastructure (Sustaining)            13,477
TSF (Sustaining)                      151,282
Water Management                       15,304
---------------------------------------------
Subtotal Capital Costs               $766,312
---------------------------------------------
Closure/Reclamation                    60,659
---------------------------------------------
Total LOM Capital Costs              $826,971
---------------------------------------------

Qualified Persons

The technical report, entitled "NI 43-101 Technical Report, Bankable Feasibility Study, Montagne d'Or Project, French Guiana, Effective Date: March 6, 2017," will be filed on SEDAR within 45 days of the date of this news release. The scientific and technical data contained in this news release pertaining to the Project has been reviewed and approved by the following Qualified Persons under NI 43-101 who consent to the inclusion of their names in this press release: Peter Clarke, BSc Mining, MBA, Peng, APEGBC#13473, SRK Consulting (U.S.), Inc. and David Gordon, BAppSc Engineering Metallurgy, FAusIMM, Lycopodium Minerals Pty Ltd, both of whom are independent of Columbus.

In this news release, the Qualified Person for the Mineral Resource Estimate is Bart A. Stryhas, PhD, CPG, AIPG#1034 of SRK Consulting (U.S.), Inc., and the Qualified Person for the Mineral Reserve Estimate is Bret C. Swanson, BEng Mining, MAusIMM, MMSAQP #01418QP.

Rock Lefrancois, Chief Operating Officer for Columbus and Qualified Person under National Instrument 43-101, has reviewed this news release and is responsible for the information reported herein related to the exploration drilling program currently underway at Montagne d'Or.

ON BEHALF OF THE BOARD,

Robert F. Giustra

Chairman & CEO

Forward-Looking Statements

This news release includes certain forward-looking statements concerning future performance and operations of Columbus and its subsidiaries and its mineral project, including the expected price of metals, the estimation of Mineral Resources and Mineral Reserves including potential increases in estimates and conversion of Inferred Mineral Resources, potential lowering of the CoG used for reserves that in turn would potentially convert Measured and Indicated Resources into Proven and Probable Reserves, potential increases to reserves by refining the pit design, and potential expansion of the deposit upon completion of the exploration drilling program currently underway at the Project), plans for a proposed infill drilling program and its estimated cost and start date and the availability of permits for such program, the expected timing to file the NI 43-101 Technical Report on SEDAR, the expected potential of the Project, anticipated opportunities to enhance the Project based on the bankable feasibility study results, planned drill targets for the exploration drilling program currently underway at the Project, the expected design of the mining operation, expected processing methods and estimated recoveries, the realization of Mineral Resources and Reserve estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, and the realization of the expected economics of the Project, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results.

Forward-looking statements are based on the current beliefs, opinions and expectations of management at the time such statements are made. Forward-looking statements involve risks and uncertainties and there are other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including: that a mine construction decision will be made by Columbus and Nordgold, that all necessary permits for mine construction or otherwise will be approved and granted on a timely basis for the Project, that skilled personnel and contractors will be available as mine construction and subsequent operations move forward, that the price of gold will be at levels that render the Project economic, that Columbus will successfully raise the capital (through debt, equity or other means) required to fund its proportionate share of expenditures for the Project in order to construct the mine, realize on the Mineral Resource and Mineral Reserve Estimates, realize on current mine plans, and prevent dilution of Columbus' 50.01% proportionate interest in the Project as provided for in the form of shareholders' agreement to be entered into with Nordgold pursuant to Nordgold's acquisition of a 55.01% interest in the Project, that the assumptions contained in the NI 43-101 Technical Report to be filed on SEDAR within 45 days after the date of this news release will be accurate and complete, the speculative nature of mineral exploration and development, changes in project parameters and/or economic assessments as plans continue to be refined, uncertainties of project cost overruns or unanticipated costs and expenses, the ongoing cooperation of Columbus and Nordgold, uncertainties inherent in conducting operations in a foreign country, fluctuating metals prices, general business, economic, competitive, political and social uncertainties, actual results of future or current exploration activities, possible variations of mineral grade or recovery rates, the failure of plant, equipment or processes to operate as anticipated, and other risks associated with the development and operation of a mining project generally.

Actual events or results may differ materially from those projected in the forward-looking statements. As such, we caution the reader against placing undue reliance on any forward looking statements or information included herein. The foregoing list is not exhaustive and Columbus undertakes no obligation to update any of the foregoing except as required by applicable law.

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@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, will discuss how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He will discuss how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...