Tolima Gold Inc. ("Tolima" or the "Company") (TSX VENTURE:TOM) announced that it
has made an application to the TSX Venture Exchange ("TSX-V") to extend the
expiry date of 18,749,999 outstanding common share purchase warrants of the
Company (the "March Warrants") from December 9, 2013 to March 23, 2016, and
19,250,000 outstanding common share purchase warrants from December 8, 2013 to
December 5, 2016 (the "December Warrants", together with the March Warrants, the
"Warrants") and decrease the price at which the Warrants are exercisable to
$0.15 per common share, with all other terms and conditions of the Warrants
remaining the same. The application is subject to the approval of the TSX-V.


The March Warrants were originally issued in connection with the private
placement (the "Private Placement") of 37,500,000 units (the "Units") of the
Company on March 23, 2011, with each Unit being comprised of one common share of
the Company and one-half of one common share purchase warrant. The exercise
price of the March Warrants is currently $0.60.


The December Warrants were originally issued in connection with a financing as
part of a reverse take-over that took place on October 31, 2011 (the "Reverse
Take-Over Financing"). The 19,250,000 common share purchase warrants of Tolima
Gold Inc. resulting from the Reverse Take-Over Financing are governed by a
warrant indenture dated December 5, 2011. The exercise price of the December
Warrants is currently $0.85.


About Tolima Gold Inc.

Tolima is a gold exploration and development company with contractual interests
in gold properties in Colombia. Tolima's mineral properties are the Remedios
Project, located in the Remedios/Segovia mining district, including the San
Pablo and Bartola mines, located in the Antioquia Department of Colombia; the
Ancal/Marmato Project, located in the Marmato/Caramanta district in the Caldas
and Antioquia Departments of Colombia; and the Nortol project, including the
newly acquired Papayo property, located in the Northern part of the Tolima
Department of Colombia. Tolima continues to explore opportunities for the
acquisition of additional mining interests in prospective mining districts in
Colombia. 


Forward-Looking Statements

Certain statements in this press release that are predictive in nature, that
depend upon or refer to future events or conditions, or that include words such
as "expects", "anticipates", "intends", "plans", "believes", "estimates", or
similar expressions, are forward-looking statements within the meaning of
securities law. 


Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tolima Gold Inc.
Andrew DeFrancesco
(416) 362-4441


Tolima Gold Inc.
Lisa-Marie Iannitelli
(416) 362-4441

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