Columbus Silver Corporation: Mogollon Silver-Gold Project Review Previously Unreported Significant Drilling Results

VANCOUVER, BRITISH COLUMBIA, May 27 (MARKET WIRE) --
Columbus Silver Corporation (TSX VENTURE: CSC) ("Columbus Silver") is
pleased to announce a number of significant unreported drilling results
following review of drilling data from its 100% controlled Mogollon
silver-gold project, Catron County, New Mexico.

The drilling was carried-out by St. Joe Minerals, Cordex and John
Livermore in three programs between 1982 and 1988 and consisted of 40,000
ft (12,192 m) of drilling in 53 rotary and core holes which were
successful in outlining a partially delineated silver-gold deposit in the
Queen vein containing approximately 845,000 tons (767,000 tonnes) with an
average grade of 9.35 ounces per ton ("opt") (320 grams per tonne
("gpt")) silver and 0.15 opt (5.1 gpt) gold. Significant intercepts of
gold and silver were also encountered in a number of other veins
including Anna E, Last Chance, South Fork, Mascot and Graveyard. In
addition, dozens of mineralized and potentially mineralized veins that
have never been drill tested provide potential for considerable resource
expansion in an epithermal vein system totaling more than 45 miles (72
km) of strike length and only 3 miles (4.8 km) have been developed. A
property map is available at:

www.columbussilvercorp.com/i/pdf/nr/mogollon-2009-05-26-map.pdf

Significant intercepts of the drilling include:

On the Consolidated area of the Queen vein:

- Hole MGR-38 33 feet, true width, of 0.13 opt gold and 6.4 opt silver
10 meters, true width, of 4.4 gpt gold and 219 gpt silver

- Hole MGR-35 7 feet, true width, of 0.207 opt gold and 15.26 opt silver
2.1 meters, true width, of 7.1 gpt gold and 523 gpt silver

- Hole MGR-08 11 feet, true width, of 0.139 opt gold and 10.85 opt silver
3.4 meters, true width, of 4.7 gpt gold and 372 gpt silver

- Hole MGR-13 10 feet, true width, of 0.179 opt gold and 11.42 opt silver
3.0 meters, true width, of 6.1 gpt gold and 391 gpt silver

On the south portion of the Queen vein:

- Hole MGR-02 25 feet of 0.23 opt gold and 1.18 opt silver
7.6 meters of 7.9 gpt gold and 40 gpt silver

- Hole MGR-32 10 feet of 0.17 opt gold and 10.91 opt silver
3 meters of 5.8 gpt gold and 374 gpt silver

On the Clifton area of the Queen vein:

- Hole MGR-18 6 feet, true width, of 0.45 opt gold and 19.57 opt silver
1.8 meters, true width, of 15.4 gpt gold and 671 gpt silver

On the Anna E. vein:

- Hole MGR-30 5 feet of 0.415 opt gold and 15.49 opt silver
1.5 meters of 4.7 gpt gold and 372 gpt silver

On the South Fork vein of the East Block:

- Hole M-2 6 feet of 0.085 opt gold and 4.83 opt silver
1.8 meters of 2.9 gpt gold and 165 gpt silver

A complete list of significant results is available at:

www.columbussilvercorp.com/i/pdf/nr/mogollon-2009-05-26-dr.pdf

The Mogollon district, located 75 miles (120 km) northwest of Silver City
in southwest New Mexico, covers an extensive, silver-gold bearing
epithermal vein field with historic production, largely from the Little
Fanney and Last Chance mines during the period 1905 to 1925, and the
Consolidated Mine from 1937 to 1942, of 15,700,000 ounces silver and
327,000 ounces gold from approximately 1.7 million tons (1.5 million
tonnes) of ore. Mining ceased in 1942 due to the wartime cessation of all
gold and silver mining in the United States.

The Mogollon silver-gold deposits are classic epithermal veins which
demonstrate good continuity of grade and thickness for strike lengths of
up to 4,000 ft (1,219 m) in the Little Fanney and Last Chance mines and
through a remarkably consistent, elevation-controlled vertical range of
about 1,000 ft (305 m). There are two sets of veins at Mogollon, an
east-west set represented by the productive Little Fanney and Last Chance
veins, and a north-south set represented by the Queen vein developed in
the Consolidated Mine.

The initial Columbus Silver drilling program will focus on testing the
east-west trending Gold Dust, Independence-Ida May and Anna E veins and
confirmation, delineation and expansion of the silver-gold deposit in the
Queen vein. The highly prospective east-west veins have near-surface
characteristics similar to the historically productive Little Fanney and
Last Chance veins but have only been explored by shallow workings above
the highly predictable Mogollon productive zone.

The historic figures presented herein are not NI 43-101 compliant. They
should not be relied upon and Columbus Silver does not treat them as
current.

QUALITY ASSURANCE/QUALITY CONTROL

Assays were determined by fire assay by the principal assayer Skyline
Labs in Tucson, Arizona, with check assays performed at Rocky Mountain
Geochemical Laboratory in Reno, Nevada, the fire assay lab of the Dee
Gold Mine in Carlin, Nevada, and at Silver City Testing Laboratory in New
Mexico. Ore grade samples were routinely checked at multiple labs, with
checks on both original assay pulps and separate splits taken at the
drill site.

Andy Wallace is a Certified Professional Geologist (CPG) with the
American Institute of Professional Geologists and is the Qualified Person
under NI 43-101 who has reviewed and approved the technical content of
this news release. Mr. Wallace is a VP of Columbus Silver's U.S.
subsidiary and a partner of Cordilleran Exploration Company ("Cordex"),
which is conducting exploration and project generation activities for
Columbus Silver.

ABOUT COLUMBUS SILVER

Columbus Silver is a silver exploration and development company operating
in the Western United States possessing an experienced management group
with a strong background in all aspects of the acquisition, exploration,
development and financing of mining projects.

Columbus Silver's project activities are managed on an exclusive basis by
Cordex, owned and operated by John Livermore and Andy Wallace who have a
long and successful history of discovery and mine development in the
United States. Columbus Silver maintains active generative (prospecting)
and evaluation programs and currently controls a 100% interest in 6
silver properties in Utah, Arizona, New Mexico and Nevada.

ON BEHALF OF THE BOARD,

Robert F. Giustra, President & CEO, Director

This release contains forward-looking information and statements, as
defined by law including without limitation Canadian securities laws and
the "safe harbor" provisions of the US Private Securities Litigation
Reform Act of 1995 ("forward-looking statements"), respecting the
Company's exploration plans. Forward-looking statements involve risks,
uncertainties and other factors that may cause actual results to be
materially different from those expressed or implied by the
forward-looking statements, including without limitation the ability to
acquire necessary permits and other authorizations; environmental
compliance; cost increases; availability of qualified workers;
competition for mining properties; risks associated with exploration
projects, mineral reserve and resource estimates (including the risk of
assumption and methodology errors); dependence on third parties for
services; non-performance by contractual counterparties; title risks; and
general business and economic conditions. Forward-looking statements are
based on a number of assumptions that may prove to be incorrect,
including without limitation assumptions about: general business and
economic conditions; the timing and receipt of required approvals;
availability of financing; power prices; ability to procure equipment and
supplies; and ongoing relations with employees, partners and joint
venturers. The foregoing list is not exhaustive and we undertake no
obligation to update any of the foregoing except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Columbus Silver Corporation
Ray Lagace
Investor Relations
604-638-3474 or Toll Free: 1-866-689-2599
info@columbussilvercorp.com
www.columbussilvercorp.com

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