Colombia Crest Gold Accelerates Drill Program at the Arabia Target

Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (tsx venture:CLB)(pinksheets:ECRTF)(frankfurt:EAT) is pleased to announce that is has signed a 2,000 metre minimum diamond drilling contract with AK Drilling International, S.A.S., adding to its existing 3,000 metre drill program with Canadian Drill Corporation to drill a total of 5,000 metres. 

With a second drill rig, the Company will accelerate the completion of its previously announced 5,000-metre, Phase I drill program within the Arabia Porphyry Complex. 

To facilitate a second rig, the Colombian environmental agency, Corantioquia, granted the Company its water pumping permit on July 13. 

The permit allows water to be pumped from local creeks to supply diamond drilling operations over a period of 14 months.

"Based on drill core logs from our first five holes at Arabia, we are eager to add a second drill rig to accelerate the program," commented Hans Rasmussen, President and CEO. "

We are really pleased by our visual observations of the core. 

All holes drilled to date exhibit intense hydrothermal alteration and disseminated sulfide mineralization suggesting the core intersects porphyry style disseminated gold mineralization. 

Each hole we drill improves our understanding of the size, zonation and intensity of the gold-rich porphyry copper system.

The water pumping permit required about five months to process, and is essential for the addition of the second diamond drill rig to accelerate the program."

AK Drilling is currently mobilizing a Sandvik DE710 track mounted diamond drill rig with capacity to drill 680 metres of HQ sized core and 1,000 metres of NQ sized core. 

The addition of the powerful track mounted rig will significantly boost meterage and accelerate progress towards the initial goal of 5,000 metres of drilling. 

AK Drilling also plans to mobilize a Hydracore 4000 man portable rig once available to test areas unreachable by existing roads.

The Arabia area is located just 10 kilometres west of Bellhaven Copper and Gold's CA:BHV -1.92%  La Mina project and 15 kilometres south of Sunward Resources' CA:SWD -0.67%  Titiribi project. 

The Arabia Porphyry targets lie partially on a concession that is held under the Venecia Agreement with Colombian Mines Corporation ((tsx venture:CMJ) see news release dated April 5, 2.011) and partially on one of the 18 concessions held under the Fredonia Agreement with Grupo de Bullet (see news release dated August 25, 2.011).

Changes to Mineral Title on Fredonia Project

The Company has notified Grupo de Bullet that as it has completed evaluation of 15 mineral concessions, covering 4,488 hectares, and releases them from the Grupo de Bullet joint venture pursuant to the original Fredonia Agreement. 

The concessions retained by Colombia Crest following its reduction under the Fredonia Agreement now include four Contracts of Concession and 14 Technical Studies for a total of 18 exploration concessions covering 29,000 hectares.

Apollos Management LLC ("Apollos"), which has been providing corporate communication services to the Company, has now also been appointed to handle the Company's investor relations activities.

Apollos is an Oregon based company owned by Daniel Fish, who has almost 30 years of experience in the investment banking and advertising businesses, including as a registered investment advisor with several major U.S. banks and investment firms. 

Mr. Fish holds a B.Sc. in Communications from the University of Oregon. 

On behalf of Apollos, he will be responsible for the dissemination of corporate data packages, broker presentations, broker communications, mining analyst communications, attending trade shows and handling all shareholder enquiries regarding the Company.

For its services, Apollos will receive US$10,000 per month payable in arrears. 

Apollos or the Company may terminate the agreement at any time on 30 day's written notice. 

The arrangement with Apollos is subject to acceptance by the TSX Venture Exchange.