Tolima Gold Restructures Terms of Divestiture of Interest in Colombia Gold Properties to Wolverine Minerals

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TOLIMA GOLD INC. ("Tolima") (TSX VENTURE:TOM) is pleased to announce today that
it has restructured the terms of its proposed divestiture of mining concessions
and other assets in Colombia (the "Properties").


Pursuant to a share purchase agreement dated December 4, 2013 (the "Original
Agreement") among Remedios Gold Holdings S.A. ("Remedios Gold"), Remedios Gold
S.A.S. ("Remedios SAS"), Herbo Assets S.A. ("Herbo") and Tolima Gold (Barbados)
Corp., each of which are subsidiaries of Tolima (collectively, the "Sellers")
and Wolverine Minerals Corp. ("Wolverine") (TSX VENTURE:WLV), Wolverine agreed
to acquire up to an 80% interest in Remedios Gold from Herbo. In connection with
the Original Agreement, Wolverine provided Herbo $700,000 by way of a loan (the
"Loan") secured against 51% of the shares of Remedios Gold. 


Under the amended terms (the "Transaction"), Wolverine will purchase a 90%
interest in Remedios Gold from Herbo in consideration of an aggregate of
$1,200,000 ($700,000 of which will be paid by forgiveness of the Loan and
$500,000 of which will be paid on closing). On closing, a 90% interest in
Remedios Gold will be transferred to Wolverine, with 30% held in escrow subject
to the completion of work commitments of $2,000,000. For each $1,000,000 in work
commitments, a 15% interest in Remedios Gold will be released to Wolverine. As
additional consideration, Wolverine will grant the Sellers a 2.5% net smelter
return royalty (the "Royalty") on production from the five mining concessions,
covering a total area of over 524 hectares, in the Remedios/Segovia mining
district in Antioquia, Colombia, that contains an existing mine. An additional
mining property may be added to the Transaction subject to satisfaction of
certain conditions. If such property is added, Wolverine has agreed to pay Herbo
an additional $500,000 and issue 500,000 common shares of Wolverine, subject to
compliance with applicable securities laws. The additional mining property would
be subject to the Royalty. The Transaction also includes a three kilometer area
of interest provision. Wolverine will also be granted a right of first refusal
to purchase the Royalty from time to time.


The parties are working to finalize the form of definitive agreement for the
Transaction. Completion of the Transaction will be subject to a number of
conditions, including the approval of the TSX Venture Exchange. 


Information Concerning Tolima

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
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.


Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect
the expectations of management of Tolima regarding the Transaction.
Forward-looking statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans, expectations or intentions
regarding the future, and include discussion of what the parties must do to
complete the Transaction. Such statements are subject to risks and uncertainties
that may cause actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given that any of
the events anticipated by the forward-looking statements will occur or, if they
do occur, what benefits Tolima will obtain from them. These forward-looking
statements reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be incorrect. A
number of risks and uncertainties could cause actual results to differ
materially from those expressed or implied by the forward-looking statements,
including: (1) the occurrence of any events that prevent the parties from
performing the acts necessary to complete the Transaction; (2) failure to obtain
the approval of the TSX Venture Exchange; (3) current economic conditions and
the state of mineral exploration and mineral prices in general; and (4) other
factors beyond the parties' control. These forward-looking statements are made
as of the date of this news release and Tolima assumes no obligation to update
these forward-looking statements, or to update the reasons why actual results
differed from those projected in the forward-looking statements, except in
accordance with applicable securities laws. Additional information about Tolima
and these and other assumptions, risks and uncertainties, are available in its
public filings with Canadian securities regulators, available under its profile
on SEDAR at www.sedar.com.


Neither 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.


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


Tolima Gold Inc.
Lisa-Marie Iannitelli
(416) 362-4441
Amilot Capital (TSXV:TOM)
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