First Colombia Gold Corporation Announces New CEO

NASHVILLE, Tenn., Oct. 17, 2014 (GLOBE NEWSWIRE) -- First Colombia Gold Corp. (OTCQB:FCGD) announced today the resignation of Dr. E. Robert Gates as its CEO and member of the board. With the resignation of Dr. Gates, First Colombia Gold is pleased to announce that Mr. Jason Castenir will become its new CEO and Chairman of the Board, effective immediately.

Mr. Castenir brings a wealth of experience and knowledge to First Colombia Gold Corp. and had previously been serving as a consultant and advisor to the company and was instrumental in the company's recent oil and gas acquisition. Throughout his professional career Mr. Castenir has successfully run and led numerous companies in a wide variety of sectors including import/export, manufacturing and direct sales. In the past several years, Mr. Castenir has served as a private business consultant aiding companies of all sizes address their capitalization needs, improve their balance sheet and cash flow, and has been an industry leader in implementing effective growth and development strategies for small and medium sized companies.

"I am pleased to have been selected by the board to lead First Colombia Gold Corp as they continue to implement their growth plan," says Mr. Castenir. "I have really enjoyed my time working with a wide range of companies and helping them achieve their growth and expansion goals and reach new levels of profitability. I look forward to implementing these same proven systems and strategies to take First Colombia Gold Corp to even greater heights."

Company president Clarence Parks stated, "We are thrilled to have Mr. Castenir take the helm of First Colombia Gold. Mr. Castenir has been instrumental in assisting the company with its latest acquisition, and he has a very strong, established network of contacts and colleagues that will prove invaluable to move our company forward and assist our company with our current operations and future acquisitions. He has a broad range of business experience and leadership qualities, along with a conviction and drive to grow and develop this company. This exceptional skill set makes him a highly qualified and exemplary leader who can take First Colombia Gold to the next level as a premier growth and development company."

Shareholders can continue to monitor the drilling progress as it develops through the Company's website and social media outlets.

About First Colombia Gold

First Colombia Gold Corp. is a capital company focused on acquiring, developing and advancing natural resource, energy, and real estate projects in Europe, North America, and South America. Our business model is to acquire undervalued assets combining potential for building asset values and cash flow through leverage to improved operational efficiencies and development.

Our current activity focus is on oil and gas production in Kentucky as well as precious metal exploration in Montana.

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This release contains forward-looking statements that are based on beliefs of First Colombia Gold Corp. management and reflect First Colombia Gold Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of First Colombia Gold Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, First Colombia Gold Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company's filings with the SEC including 10k, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance First Colombia Gold Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations form the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.

CONTACT: First Colombia Gold info@firstcolombiagold.comSource:First Colombia Gold Corp.