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Colombia Crest Gold Engages Torrey Hills For Investor Relations Services


October 16, 2012

VANCOUVER, BC - Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX-V: CLB; Pink Sheets: ECRTF; Frankfurt: EAT) announces that it has engaged San Diego-based Torrey Hills Capital, Inc. ("Torrey Hills"), to provide increased investor relations services through investor roadshow meetings, public relations and online media in the US and Canada. 

Torrey Hills is a leading financial investor and public relations firm specializing in small and micro-cap companies, primarily in the natural resource sector.  Torrey Hills will work to increase awareness through setting up three full-day meetings per month with its established network of investment professionals, investment advisors, and money managers focused on the micro-cap market.  Development of a Colombia Crest profile and Company updates will be showcased on the Torrey Hills website, www.babybulls.com, providing exposure to a large audience of proven micro-cap investors.

The terms of the agreement for investor relations services are on a month-by-month basis at a monthly rate of US$7,000.  In addition, the agreement includes incentive stock options, which Colombia Crest will grant at a later date to purchase 200,000 common shares of the Company (“Options”) with the purchase price set by the Board of Directors for a period of two years from the date of grant.  These options will be vested over a one-year period with 50,000 options becoming exercisable every three months.  The Options are subject to the terms of the Company's stock option plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange.  Based on the terms of the agreement, either party may cancel the agreement given that a 30-day written notice is provided.

Torrey Hills currently has no direct or indirect interest in the securities of Colombia Crest, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced Options.  The appointment of Torrey Hills as an investor relations consultant of Colombia Crest and the granting of Options remains subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.

About Torrey Hills Capital

Torrey Hills Capital, Inc. is a leading financial investor and public relations firm focused on small and micro-cap companies which trade in the United States, Canada, and Australia.  Their marketing activities articulate their clients’ key investment attributes, strategic direction, and financial expectations, all of which combine to ensure that their market value fully reflects past achievements and future opportunities. Torrey Hills focuses on a limited number of companies in order to provide comprehensive coverage, including unique investment related features not available anywhere else.

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 Simón project in Bolivia. Industry experts with three decades of gold discoveries lead the management and technical teams at Colombia Crest Gold. 

These projects cover over 30,973 hectares in the Middle Cauca Belt, which is the most prolific gold belt in Colombia with more than 500 years of  mining history and several new gold discoveries. Over the past 10 years 60+ million ounces of gold have been discovered in the Middle Cauca Belt, making it one of the fast growing gold belts in the world.

The Company is focused on grass-roots discovery of porphyry-style gold-copper resources, like Titiribí (Sunward Resources), La Mina (Bellhaven Copper and Gold) and Quebradona (AngloGold-Ashanti), which are all located in close proximity to our Fredonia and Venecia Colombian projects.  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, Mexico, Alaska, Indonesia, and Eastern Europe.

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.

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.

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 more information, please contact:

Hans Rasmussen, President and CEO                                                    
Colombia Crest Gold Corp.                                                                         
Office: 604.684.7160                                                                                      
E-mail: hans@colombiacrestgold.com                                                  

Dan Fish, Investor Relations
Colombia Crest Gold Corp.
Direct: 1-888-228-4305
E-mail:  dan@colombiacrestgold.com

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