Columbus Gold Corp. Early Warning News Release

VANCOUVER, British Columbia, June 18, 2018 (GLOBE NEWSWIRE) -- Columbus Gold Corp. ("Columbus Gold") has filed an early warning report advising of a change in its holdings in Allegiant Gold Ltd. AUAU ("Allegiant").

On June 15, 2018, Columbus Gold disposed of 1,650,000 common shares of Allegiant (3.5% of the issued and outstanding common shares of Allegiant) and following the disposition Columbus Gold now directly has ownership and control of 3,533,496 common shares of Allegiant, representing less than 10% of the issued and outstanding common shares of the Allegiant.

The purpose of the disposition was to provide Columbus Gold with working capital. It may acquire or dispose of common shares of Allegiant in the future.

This press release is issued pursuant to the early warning requirements of National Instrument 62-104 and National Instrument 62-103, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Issuer's documents on the SEDAR website at www.sedar.com.

ON BEHALF OF THE BOARD,

Robert F. Giustra

Chairman

For more information or a copy of the Early Warning Report contact:

Investor Relations

(604) 634-0970 or

1-888-818-1364

info@columbusgold.com