Colombia Goldfields Ltd. Appoints Two New Directors.

LAS VEGAS -- Colombia Goldfields Ltd. (OTCBB:CGDF) is pleased to announce the following;

On June 14, 2005, our board of directors appointed Hernando Molina Velez and Thomas Ernest McGrail to serve as members of the board of directors. Also on June 14, 2005, our board of directors appointed Luis Gabriel Correa Ocampo to serve as a Vice President of Exploration. We did not enter into any employment agreement with Mr. Ocampo.

Messrs. Velez, McGrail, and Ocampo have not had any material direct or indirect interest in any of our transactions or proposed transactions over the last two years. A description of the business experience of Messrs. Velez, McGrail, and Ocampo is set forth below.

Hernando Molina Velez. Mr. Velez graduated from the University of Antioquia, specializing in International Trade. Mr. Velez currently acts as legal counsel and as a financial trade advisor for several International and National companies since 2000. Mr. Velez is a director for the following companies based in Colombia: Cerveceria Union, Ganaderia Union S.A., EEPP (Empresas Publicas) de Medellin, Fondo Ganadero of Antioquia, Curtimbres Copacabana and Cataluna. For the last ten years, Mr. Velez has held the position of National Executive Director of the Association of Leaders of Marketing of Colombia.

Luis Gabriel Correa Ocampo. Mr. Ocampo graduated from EAFIT University in 1999. Mr. Ocampo has six years of experience in surface exploration and drilling, reserve calculations, mining management and design. Mr. Ocampo's prior experience includes research with the Sedimentology and Stratigraphy group of EAFIT University (1999 - 2000). Mr. Ocampo has conducted exploration and exploitation of marble deposits (2000 - 2003) as well as coal exploration drilling at Cerrrejon S.A, a large coal deposit (2003 - 2004). Mr. Ocampo currently is employed by Cia Servicios Logisticos as its Chief Geologist.

Thomas Ernest McGrail. Mr. McGrail has an extensive background of over 27 years in mining development and operation. He is a graduate of the Technical University of Nova Scotia with a Bachelor of Engineering (Mining) and a graduate from Dalhousie University with a Bachelor of Science in Engineering From January 2002 to the present, Mr. McGrail has served as construction manager for Minera Cerro Quema. Mr. McGrail's responsibilities include obtaining all appropriate government approvals prior to commencing mining operations and participating in the feasibility study. Also from January 2002 to the present, Mr. McGrail acts as a consultant to Minerales de Copan for a project located in Honduras. From April 2001 to July 2002, Mr. McGrail served as general manager for Desarrollo Minera de Nicaragua, S.A. and also acted as the interim general manager for this company on a mining project from August 2004 to October 2004. Mr. McGrail served as president and general manager of HEMCO de Nicaragua, S.A. from June 1999 to April 2001.