Colombia Goldfields Receives Conditional Toronto Stock Exchange Listing Approval

    TORONTO, June 7 /CNW/ - Colombia Goldfields today announced that it has
received the conditional approval of the Toronto Stock Exchange ("TSX") to
list its common shares on the senior exchange. The conditional approval is
subject to the Company undertaking and completing a financing of at least
US$7 million and submitting all required documentation prior to September 4,
    Colombia Goldfields President and CEO, J. Randall Martin said, "The TSX
listing will allow Colombia Goldfields access to a wider range of
shareholders, particularly North American investors. We look forward to the
Company's listing on the world's pre-eminent mining and resource exchange."

    About Colombia Goldfields

    Colombia Goldfields Limited, through our Colombian subsidiaries Cia
Minera de Caldas S.A. and Gavilan Minerales S.A., is developing a
multi-million ounce gold resource in Colombia's historic Marmato Mountain gold
district through a program of mineral property acquisitions, community
resettlement and exploration.

    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: 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,,; Martti Kangas, The
Equicom Group, Toronto, ON, (416) 815-0700 x 243

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