Colombia Crest Gold Announces Private Placement Financing

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/22/13 -- Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX VENTURE:CLB)(PINKSHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce that it has arranged a non-brokered private placement of units (each a "Unit") at the price of $0.05 per Unit to raise gross proceeds of $146,000. 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 $0.10 for one year after Closing, $0.15 during the second year after Closing and $0.20 during the third year after Closing.

Proceeds from the financing will be used for general working capital. The Company has agreed to pay finder's 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 employs a team of seasoned geologists, many with 20+ years of experience exploring and discovering porphyry deposits around the world, including Argentina, Peru, Ecuador, Mexico, Alaska, Indonesia, and Eastern Europe.

The Company is currently carrying on exploration programs at the Fredonia and Venecia projects where it has optioned over 27,700 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.

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