Colombia Goldfields defines multiple large gold targets around Marmato



    TORONTO, Sept. 20 /CNW/ - Colombia Goldfields Ltd (or the "Company")
(TSX: GOL/OTCBB: CGDF) is pleased to provide an update on the Caramanta
Exploration Project which surrounds its Marmato Mountain Development Project
in Colombia.
    The Company has acquired an additional exploration property and carried
out sampling programs that have defined a cluster of five distinct gold
targets in the 32,000 hectares surrounding Marmato. The largest of the
anomalies is Oro Fino, eight kilometers north of Marmato, where the Company
has defined a large anomaly of coincident gold, copper and molybdenum in rock
outcrop and soil samples. Mineralization is hosted by multiple gold and
gold-copper-moly porphyry intrusions in metamorphic basement rocks.
    The gold anomaly at Oro Fino is 5.0 km long by 1.5 to 2.3 km wide,
coincident with a copper anomaly 3.5 km long by 1.8 km wide, and a molybdenum
core. Gold values in 1,220 rock samples measure up to 10.3 g/t, with five
outliers between 13.3 and 74.6 g/t. The maximum copper value in rock samples
is 8,207 ppm (0.82%), and the maximum molybdenum value is 6,100 ppm (0.81%).
    The other anomalies are El Salto, Pacora, Campana and San Bartolome. In
December 2006 the Company announced a new gold discovery at El Salto, 3.5 km
north of Marmato, with an average of 0.94 g/t gold in rock channel and chip
samples taken from an area of artisan open pit mine workings covering about
260 m by 260 m. El Salto lies within a much larger area of anomalous gold
defined by reconnaissance rock and soil sampling covering at least 1.6 km by
2.0 km. A program of systematic soil and rock sampling has just been completed
to define the extent of mineralization away from the old artisanal mine
workings. Results are currently pending.
    Pacora and Campana are one kilometer northeast and east of Oro Fino
respectively, and San Bartolome is 4 km east of Marmato. At Pacora preliminary
rock chip sampling has given anomalous gold values (greater than 0.1 g/t) over
an area of about 2.3 km in diameter with values up to 4.90 g/t gold. At
Campana the area of anomalous gold is about 1.0 km in diameter and 56% of the
samples have values greater than 0.1 g/t gold. San Bartolome covers an area of
3.0 km with 41% of the rock chip sampling having values between 0.1 and 1.0
g/t gold. Programs of additional soil and rock sampling are planned for all of
these areas.
    Colombia Goldfields' President and Chief Executive Officer, Randy Martin,
stated, "This is a very important and exciting development for Colombia
Goldfields. We have now defined five gold projects near Marmato, none of which
has yet been drilled. These results confirm our expectations that a cluster of
gold targets, potentially forming a major gold district, surrounds our core
development project at Marmato Mountain. In particular, the size of the Oro
Fino anomaly is very impressive."
    An airborne magnetic and radiometric survey is planned to start before
year end to cover all of the Company's mining titles in the Caramanta and
Marmato areas, including the Marmato Gold Development Project and the Oro
Fino, El Salto, Pacora and other exploration targets. This will be followed by
initial programs of diamond drilling on Oro Fino and at El Salto.
    Dr Stewart D. Redwood, Vice President of Exploration of the Company, is
the qualified person as defined by National Instrument 43-101 and has reviewed
the content of this press release. He is a Fellow of the Institute of
Materials, Minerals and Mining (FIMMM) of the UK, a professional association
and designation recognized by the Canadian regulatory authorities. The Company
samples were prepared by BSi Inspectorate (ISO 9001:2000 and 9002:2004
certified) at sample preparation facilities in Medellin, Colombia, and Reno,
Nevada. They were assayed for gold by fire assay with AAS finish and analyzed
for silver and a suite of multi-elements by ICP at their laboratory in Reno,
Nevada. Gold samples higher than 3.0 g/t were rerun by fire assay with
gravimetric finish. Blank, standard and duplicate samples are routinely
inserted for quality assurance and control.

    About Colombia Goldfields
    -------------------------
    Colombia Goldfields Limited, though its subsidiaries Compania Minera de
Caldas S.A. and Gavilan Minerals S.A., is developing a multi-million ounce
gold resource in Colombia's historic Marmato Mountain gold district.
    Colombia Goldfields is traded in the US under the symbol CGDF, on the
Toronto Stock Exchange under the symbol GOL, and in Germany with the symbol
C2B.

    Click here to view a map of the Marmato and Caramanta Concession:
    http://files.newswire.ca/476/Marmato.doc


    Disclaimer

    This release contains forward-looking statements that are based on the
beliefs of Colombia Goldfield's management and reflect Colombia Goldfield's
current expectations as contemplated under section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities and Exchange Act of
1934, as amended. When used in this release, the words "estimate, "project,"
"believe," "anticipate," "intend," "expect," "plan," "predict," "may,"
"should," "will," "can," the negative of these words, or such other variations
thereon, or comparable terminology, are all intended to identify
forward-looking statements. Such statements reflect the current views of
Colombia Goldfields with respect to future events based on currently available
information and are subject to numerous assumptions, risks and uncertainties,
including, but not limited to, risks and uncertainties pertaining to
development of mining properties, changes in economic conditions and other
risks, uncertainties and factors, which may cause the actual results,
performance, or achievement expressed or implied by such forward looking
statements to differ materially from the forward looking statements.




For further information:

For further information: Company Contact: Randy Martin, President & CEO,
Colombia Goldfields Ltd. (OTC BB: CGDF), 8 King Street East, Suite 208,
Toronto, Ontario, M5C 1B5, T: (416) 203-3856, F: (416) 361-0883,
info@colombiagoldfields.com, www.colombiagoldfields.com; U.S. Investor
Relations: Michelle Roth, Roth Investor Relations, Inc., Tel. (732) 792-2200,
Email: michelleroth@rothir.com; Canadian Investor Relations: Martti Kangas,
The Equicom Group, Toronto, ON, (416) 815-0700 x 243

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COLOMBIA GOLDFIELDS

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