Colombia Goldfields Ltd. Announces TSX Review Extended



    TORONTO, June 3 /CNW/ - Colombia Goldfields Ltd. (the "Company") (TSX:
GOL / OTCBB: CGDF) on June 2, 2009, was advised by the Toronto Stock Exchange
("TSX") that the TSX has extended its review of the eligibility of the common
shares of the Company for 30 days.

    About Colombia Goldfields

    Colombia Goldfields Ltd., through its subsidiaries Compania Minera de
Caldas S.A. and Gavilan Minerals S.A., is developing what we believe is 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 under the symbol
C2B.

    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. In
particular, there is no assurance that a definitive agreement will be executed
or that the proposed transaction will be completed.





For further information:

For further information: J. Randall Martin, Vice Chairman and CEO,
Colombia Goldfields Ltd., (TSX: GOL / OTC BB: CGDF), 8 King Street East, Suite
208, Toronto, Ontario, M5C 1B5, T: (416) 361-9640, F: (416) 361-0883,
info@colombiagoldfields.com, www.colombiagoldfields.com

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COLOMBIA GOLDFIELDS

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