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Colombia Crest Gold Appoints Peter Ellsworth as VP Exploration

 

May 1, 2012 - VANCOUVER, BC - Colombia Crest Gold Corp. (“Colombia Crest”; the “Company”) (TSX-V: CLB; Pink Sheets: ECRTF; Frankfurt: EAT) is pleased to announce the appointment of Peter Ellsworth as Vice President ("VP") of Exploration, based out of Medellín, Colombia.  Additionally, Walter Lienhard will assume the newly appointed role of VP Business Development Latin America, with a focus on property acquisition and monetization of existing projects.

Peter Ellsworth is a geologist with 27 years of mineral exploration and mining experience across North and South America. His expertise ranges from corporate leadership, project management, and natural resource exploration and development throughout the precious metals, base metals, diamond and industrial minerals sectors.  Previously as VP Exploration for Trident Gold Corp. in Colombia, he identified and acquired bulk-mineable gold exploration projects, directed property evaluation, due diligence and spearheaded qualified technical reports.  Early in his career working as Staff Geologist for Newmont Exploration Ltd, he was involved in the discovery of the Gaby porphyry gold deposit in Ecuador and more recently he built and directed the team that successfully drilled the Alpacocha porphyry copper deposit in southern Peru.  Consulting on various international projects, his client list comprises over 25 public and private companies.  Mr. Ellsworth holds a M.Sc in Geology from the University of Montana and a B.Sc in Geology from Montana State University and is bilingual in English and Spanish.

"We are now at a stage where we can position Pete in this high performing role situated in Medellin, Colombia within close proximity to our properties.  Pete’s insight into various angles of the business, from junior exploration to major mining, gives him the proper perspective for advancing our projects," stated Hans Rasmussen, President and CEO of Colombia Crest.  “The technical team and I are thrilled to welcome Pete during this exciting time as we drill our highest priority gold targets."

Peter Ellsworth will also serve as the Qualified Person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Mr. Lienhard obtained his B.Sc Degree in Geology from the University of Arizona and has over 25 years of exploration experience working with major mining companies.  Due to his previous positions where Mr. Lienhard was involved with all phases of exploration and management of operations in Latin America, he will be a tremendous asset in heading the Company’s business development in that area.

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. 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, Peru, Ecuador, Mexico, Alaska, Indonesia, and Eastern Europe. 

Along with a strong working capital position, the Company will accelerate the exploration programs at the Fredonia and Venecia projects where it has optioned over 34,000 hectares (81,600+ acres) located in the Cauca River Valley. Situated approximately 40 km south of the city of Medellín, in Antioquia Province, the properties are positioned within the Middle Cauca Belt, which is the most prolific gold belt in Colombia with more than 500 years of gold-mining history and several new gold discoveries. 

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 prefer to receive news releases via email please contact info@ColombiaCrestGold.com.

 

For more information, please contact:

Hans Rasmussen, President and CEO
Colombia Crest Gold Corp.
Office: 604-684-7160
E-mail: hans@colombiacrestgold.com

Benjamin Curry
Progressive Investor Relations
Direct: 604-689-2881
E-mail:  ben@progressive-ir.com

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