Columbus Exploration Announces Shares for Debt Agreements

VANCOUVER, BC--(Marketwired - January 12, 2015) - Columbus Exploration Corporation (TSX VENTURE: CLX) announces that it has entered into agreements to issue 352,590 shares to its directors to settle outstanding directors' fees totaling an aggregate of $42,000. The issuance of the shares will not result in a change of control of Columbus Exploration, will be subject to a four-month hold period from the date of settlement, and will be subject to the approval of the TSX Venture Exchange.

The shares are being issued in respect of fees accrued to the end of 2014. Effective January 1, 2015, the directors of Columbus Exploration have agreed to temporarily stop being paid or accruing directors' fees.

ON BEHALF OF THE BOARD,

Robert F. Giustra

President, CEO, and Director

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.