Colombia Crest Gold Corp. Announces Share Consolidation and Name Change

February 1, 2019 - VANCOUVER, BRITISH COLUMBIA: Colombia Crest Gold Corp. (the "Company") (TSXV:CLB; Pink Sheets: ECRTF; Frankfurt: EAT) announces its intention to consolidate its common shares ("Shares") on a 3-old-for-1-new-share basis (the "Consolidation"). In connection with the Consolidation, the board of directors of the Company has decided to change the Company's name to "ATEX Resources Inc." (the "Name Change").

The Consolidation and the Name Change were approved by the Company’s shareholders at the Company’s annual general and special meeting held on December 6, 2018. As part of the Consolidation, the 9,608,854 Shares currently issued and outstanding will be reduced to approximately 3,202,951 post- Consolidation Shares. No fractional shares will be issued under the Consolidation. Each fractional share following the Consolidation that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. The exercise or conversion price and the number of shares issuable under any of the Company's outstanding stock options and convertible instruments, as applicable, will be proportionately adjusted upon completion of the Consolidation. A letter of transmittal will be sent to registered shareholders providing instructions to surrender the certificates evidencing their Shares for replacement certificates representing the number of post-Consolidation Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing Shares prior to the Consolidation will be deemed for all purposes to represent the number of Shares to which the holder thereof is entitled as a result of the Consolidation.

The Consolidation is subject to the approval of the TSX Venture Exchange (the "TSXV") and the pre- Consolidation Shares will continue to be traded on the TSXV under the current trading symbol "CLB" until the effective date of the Consolidation and Name Change. Upon receipt of TSXV approval for the Consolidation, the Company will provide further details, including the effective date of the Consolidation and Name Change, and the commencement date for trading of the Shares on a post-Consolidation basis under the Company's new name and trading symbol. The Company's CUSIP and ISIN numbers will change upon the completion of the Consolidation and Name Change.

About Colombia Crest Gold Corp.

The Company is a minerals exploration company focused on the acquisition, development and monetization of projects throughout the Americas.

On behalf of Columbia Crest Gold Corp.

William Jung, CFO

For more information contact:

Email: [email protected] (604) 684-7160

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