Columbus Energy Announces Cost Reduction Program and Resignations

Vancouver, British Columbia--(Newsfile Corp. - June 6, 2014) - Columbus Energy Limited (TSXV: CEL) has begun a cost reduction program as follows:

The Board of Directors has been reduced by three.

Mr. Houston's resignation was announced on May 26, 2014.

Robert Laslett has resigned as Director and Chairman effective May 29, 2014. Mr. Laslett has served on the Board of Directors since October 2012.

Douglas Scheving has resigned as Director, Chief Financial Officer, and Corporate Secretary effective May 31, 2014. Mr. Scheving has been a Director since October 1996.

In addition to the reduction in the number of Directors the Company has closed its European office, allowed the Investor Relations contract with Grenfell Consultants to expire, and cut the fees paid to officers by 50%. These and other measures are expected to reduce company operating costs by 67%.

The Company thanks Mr. Laslett and Mr. Scheving for their contributions to the Company.

Jack BesMargian has been appointed Chief Financial Officer and Corporate Secretary.

"Jack BesMargian"
Jack BesMargian
Director, Corporate Secretary

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Contact Information:
Columbus Energy Limited
Jack BesMargian
Director and Corporate Secretary
Phone 604 684 7619