VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov 9, 2012) - Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX VENTURE:CLB)(ECRTF)(FRANKFURT:EAT) announced today that its board of directors has approved the grant of incentive stock options to an officer of the Company for the purchase of up to 250,000 common shares of Colombia Crest at a price of $0.25 per share expiring November 8, 2017.
Further to the Company''s news release dated October 16, 2012, incentive stock options have also been granted to Torrey Hills Capital, Inc., a public relations firm, for the purchase of up to 200,000 common shares of the Company at a price of $0.25 per share expiring November 8, 2014. These options are vested over a one-year period with 50,000 options becoming exercisable every three months commencing February 8, 2013.
These incentive options as announced are subject to acceptance by the TSX Venture Exchange.
Any shares issued to directors and officers pursuant to the exercise of options granted to them will be subject to a four month hold period commencing on the date of the grant. Shares issued to other optionees on the exercise of such options will not be subject to any hold period.
About Colombia Crest Gold Corp.
Colombia Crest Gold Corp. is focused on systematically exploring, developing and monetizing promising new gold projects in Colombia as well as realizing the potential of its 100 percent-owned San Simón project in Bolivia. The Company employs a team of seasoned geologists, each 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 30,973 hectares located approximately 40 km south of the city of Medellín, in Antioquia Province. The properties are positioned within the Middle Cauca Belt, which is 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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