Tolima Gold Inc. Announces Appointment and Resignation of Director

TORONTO, ONTARIO--(Marketwired - June 4, 2013) - Tolima Gold Inc. ("Tolima" or the "Company") (TSX VENTURE:TOM) announces that Mr. Peter Simeon has been appointed to the board of directors of Tolima. Tolima also announces that Mr. Wally Rudensky has stepped down from board effective May 31, 2013.

Mr. Simeon is a partner with the law firm Wildeboer Dellelce LLP and practices in the areas of corporate/commercial and securities law, with an emphasis on corporate finance, mergers and acquisitions and structured products.

"We are pleased to welcome Mr. Simeon to the board of Tolima and thank Mr. Rudensky for his contributions to the company," said Jaime Lopez, Chief Executive Officer of Tolima.

In connection with his appointment to the board, Tolima has granted 200,000 stock options to Mr. Simeon. The stock options are exercisable at a price of $0.10 and expire five years from the date of grant.

Information Concerning Tolima

Tolima is a gold exploration, development and production company with interests in mining properties in Colombia. Tolima's properties include the Remedios Project, located in the Remedios/Segovia mining district in the Antioquia Department of Colombia, with over 11,500 hectares of exploration ground, two mines (the "San Pablo" and "Bartola" mines) and an operating gold processing and recovery plant located in the area of "San Pablo" with a capacity of 100 tons per day; the ANCAL Project, located in the Marmato/Caramanta district of the Caldas and Antioquia Departments of Colombia, including more than 28,000 hectares of exploration ground; and the NORTOL project, located in the Tolima Department of Colombia, including more than 48,000 hectares of exploration ground and the "Papayo" mine.