TOM Amilot Capital Inc

Tolima Gold Inc. (TSX VENTURE:TOM) announced today that its Executive Chairman,
Andrew DeFrancesco, has purchased an aggregate of 250,000 common shares of the
Company between September 17th, 2012 and October 26th, 2012 at an average price
of CDN$0.32 per share, on the open market. 


In addition, John Martin, Chief Financial Officer of the Company, has purchased
an aggregate of 50,000 common shares of the Company on October 19th, 2012 at an
average price of CDN $0.27 per share, on the open market. 


About Tolima Gold Inc. 

Tolima is a gold exploration, development and production company with interests
in mining properties in Colombia. Tolima's properties include the Remedios
Project, located in the Remedios/Segovia mining district in the Antioquia
Department of Colombia, with over 11,500 hectares of exploration ground, two
mines (the "San Pablo" and "Bartola" mines) and an operating gold processing and
recovery plant located in the area of "San Pablo" with a capacity of 100 tons
per day; the ANCAL Project, located in the Marmato/Caramanta district of the
Caldas and Antioquia Departments of Colombia, including more than 28,000
hectares of exploration ground; and the NORTOL project, located in the Tolima
Department of Colombia, including more than 48,000 hectares of exploration
ground and the "Papayo" mine, which is being rehabilitated. Tolima is continuing
to explore opportunities for the acquisition of additional mining interests in
prospective mining districts in Colombia. 


Additional information on Tolima Gold can be found on its website at
www.tolimagold.com and by reviewing its profile on SEDAR at www.sedar.com. 


Cautionary Statement on Forward-Looking Information: 

This news release contains certain "forward-looking statements" including, for
example, the ability of Tolima to achieve formal assignment and registration of
its mining properties and the ability to carry out exploration activities. Such
forward-looking statements involve risks and uncertainties, both known and
unknown. The results or events depicted in these forward-looking statements may
differ materially from actual results or events. In addition to other factors
and assumptions which may be identified herein, assumptions have been made
regarding and are implicit in, among other things: receipt of government and
third party approvals in respect of transferring assets, the state of the
capital markets; tax issues associated with doing business internationally, the
ability to successfully manage the political and economic risks inherent in
pursuing mineral exploration opportunities in Colombia; and the ability to
obtain qualified staff, equipment and services in a timely and cost efficient
manner to develop the business. Any forward-looking statement speaks only as of
the date of this news release and, except as may be required by applicable
securities laws, Tolima does not intend, and disclaims any duty or obligation
to, update or revise any forward-looking statements, whether as a result of new
information, future events or results or otherwise. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tolima Gold Inc.
Lisa-Marie Iannitelli
Toronto
+1 647 476 7577
lm@tolimagold.com


Tolima Gold Inc.
Marcela Ospina
Colombia
+57 4 444 7479
mospina@tolimagold.com
www.tolimagold.com

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