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Columbus Silver Corporation (TSX VENTURE: CSC) ("Columbus Silver" or the "Company") is pleased to provide the following drilling progress report from its 100% controlled Mogollon silver-gold project, Catron County, New Mexico. The Mogollon Project covers most of an extensive, silver-gold bearing epithermal vein field totaling more than 45 miles (72 km) of strike length of which only 3 miles (4.8 km) have been developed.

The current drilling campaign consists of approximately 7,500-8,000 ft (2,286-2,438 m) in up to 14 diamond core holes and is designed to test the east-west trending Anna E and Independence-Ida May veins.

There are two sets of veins at Mogollon which account for the majority of historical production, a north-south set represented by the Queen vein, hosting the former Consolidated Mine, and an east-west set represented by the Little Fanney and Last Chance veins, hosting former mines by the same name. Historical recorded production from these veins between 1905 and 1942 is reported to total 15,700,000 ounces silver and 327,000 ounces gold from approximately 1.7 million tons (1.5 million tonnes) of ore averaging 9 opt (308 g/t) silver and 0.18 opt (6.17 g/t) gold.

The only drilling known to be carried-out in the Mogollon district occurred between 1981 and 1989 (see press release of May 26, 2009) and was successful in outlining a partially delineated silver-gold deposit at the former Consolidated Mine in the Queen vein containing an historical resource of approximately 845,000 tons (767,000 tonnes) averaging 9.35 opt (320 g/t) silver and 0.15 opt (5.1 g/t) gold.

There are dozens of mineralized and potentially mineralized veins at Mogollon that have never been drill tested providing potential for considerable resource expansion. The principal aim of the current drilling program is to test new veins, the Anna E and Independence-Ida May veins which have near-surface characteristics similar to the past producing Little Fanney and Last Chance veins but have only been explored by shallow workings or have had either limited or no drilling.

Based on the historical production data from the former Consolidated, Little Fanney and Last Chance mines and on the drilling programs completed at Consolidated in the 1980's, the high-grade silver and gold mineralization in the Mogollon District is present in broad zones of quartz and calcite veins and silicified breccias cut by stockwork quartz veinlets along faults. Stoping widths in the past producing mines range from 5 to 25 ft, averaging about 9 to 11 ft. Historical production on the Last Chance and Fanney veins occurred mostly below an elevation of approximately 6,950 ft. These two productive veins did not extend to the surface, being marked only by cracks along faults with occasional barren quartz veins up to a few inches wide. The current drilling program was therefore designed to penetrate the target veins below the 6,900 ft elevation with angle holes drilled from surface from 500 to 800 ft in depth.

In the current program, three holes were drilled at the Anna E vein and attempted to extend the significant mineralization drilled in 1984 (best assay 5 ft of 0.415 opt (14.2 g/t) gold and 15.49 opt (530 g/t) silver) for an additional 200 ft down the dip of the structure. These holes were not successful. Fifty feet wide zones of quartz, calcite, and fluorite veining were cut below the previous drill holes but initial assays show only anomalous gold and silver (best assay 4.5 ft of 0.019 opt (0.66 g/t) gold and trace values of silver). The Anna E vein remains open on strike, and the best values seem to be confined to a zone from near the surface down to about 250 ft of depth.

So far, four angle core holes have been completed in the area of the Independence-Ida May veins. All holes have been logged geologically, the mineralized parts of the core sawn in half, and submitted for assay to Skyline Laboratories in Tucson. No assay results have been received on these holes. The first three holes were spread along 2,400 ft of the strike of the Ida May vein and placed to cut the vein at about 6,850 ft of elevation. These three holes cut wide zones of quartz veining and stockworks in silicified breccia (up to 75 ft wide) in the Ida May structural zone, but individual quartz veins within this broad zone are only about 2-2.5 ft in width. The fourth hole cut the Ida May structure at about 6,700 ft in elevation, again cutting a broad zone of veining and silicification, but with considerably more quartz overall and one individual vein zone that reached 9 ft in width. The next two holes are planned to test the Ida May vein at this elevation, as the mineralization seems to be strengthening with depth based on visual observations.

Columbus Silver plans to release full results when the first 9 holes of the program are completed and assayed.

A Mogollon Property map is available at:

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

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

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 the principal 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, which has 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 8 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 1-888-818-1364 info@columbussilvercorp.com www.columbussilvercorp.com