Columbia Metals Corporation Limited: Jojoba Gold Project Update.

TORONTO -- Columbia Metals Corporation Limited (TSX VENTURE:COL) - The company is pleased to announce recent activities at Columbia's 100% owned Jojoba Gold Project in Magdalena de Kino, Sonora, Mexico.

The La Jojoba Property comprises 4 claims (528.9 hectares) located some four kilometres west of Columbia's Lluvia de Oro gold processing plant. The La Jojoba Property claims contain several gold occurrences which have been intermittently explored in an attempt to discover sufficient resources to support a stand-alone-operation. The Northeast Deposit (Zone), the most extensively explored to date is said to contain a Measured and Indicated (M+I), in situ, gold resource of some 7 million tonnes averaging 0.87 grammes per tonne gold (g/T Au) (200,000 troy ounces) above a cut-off grade of 0.40 g/T. (NI 43-101 compliant, Blakestad et all, 2005.)

The La Jojoba Northeast Zone is a bulk-tonnage gold deposit, believed to be amenable to economic development by large-scale mining techniques. The La Jojoba property has been subject of intense exploration by several companies prior to its acquisition by Columbia Metals Corporation Ltd. in April 2005. A total of 290 drill holes, aggregating 19,255 metres of drilling have been completed on the property. According to a resource analysis by Mr. G. Giroux, P. Eng., independent qualified person, a range of tonnage and gold grade of Measured plus Indicated mineral resources have been determined to be as follows:

Au Cut-off  Tonnes Greater Than   Grade at Cut-off
 (g/T)            Cut-off           (g/T Au)        Contained  Cu (%)
------            Au (g/T)          --------         Oz Au     ------
                  --------                          ---------
  0.25         10,590,000             0.682         232,208     0.06
  0.30          9,050,000             0.752         218,808     0.06
  0.35          7,910,000             0.813         206,759     0.06
  0.40          7,070,000             0.865         196,623     0.07
  0.45          6,270,000             0.922         185,864     0.07
  0.50          5,510,000             0.984         174,319     0.07

During this reporting period, Rodney Blakestad, J.D., C.P.G., an independent qualified person under the provisions of National Instrument 43-101, commenced oversight of a soil sampling program to obtain near-surface geochemical information at potentially mineralized zones to the east and south of the Northeast Zone of the La Jojoba property.

In addition to commencement of the soil sampling program, Mr. Blakestad has initiated permitting for road improvements throughout the property and permitting for drilling and metallurgical bulk sampling at the Northeast Zone. Three near surface areas, requiring mininimal stripping and amenable to excavator extraction have been identified as potential sites metallurgical bulk sampling. Bulk sampling will be accomplished in 2006 by excavation of approximately 150 tonnes of near-surface gold mineralized material. The bulk sample program will provide important information about the amenability of mineralization at the Northeast Zone to inexpensive heap leach extraction of gold.

Road improvement work will commence in early January to facilitate access throughout the property and to facilitate additional field work anticipated for 2006.

Additional metallurgical sample material will be obtained from HQ-diameter drill cores, drilling of which, will follow receipt of the permits currently in preparation. The core drilling program will entail approximately 1,250 meters of large diameter core obtained by oriented-core drilling techniques for metallurgical and detailed geological purposes. An additional 750 meters are anticipated to define gold mineralization in areas where previous drilling was not deep enough to fully evaluate the mineralized envelope and to in-fill several gaps in drilling coverage. It is anticipated that the results of the 2006 drilling campaign will provide sufficient new information to complete a scoping study leading to a re-calculation of the mineral resources to establish a basis for Proved and Probable mineral resource categories under provisions of NI 43-101.

This news release was prepared by Rodney Blakestad J.P., C.P.E and John Steers, P.Eng., VP Exploration for Columbia Metals Corporation Limited.

Shares Outstanding: 44,568,577

The TSX Venture Exchange has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release.

Columbia Metals Corporation Limited (TSX VENTURE:COL)