Gran Colombia Gold files the amended National Instrument 43-101 Technical Report for its project in Segovia; Does not modify previous information on mineral reserves and resources; Removes some immaterial or excessive appendices from a previously filed technical report



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TORONTO, July 09, 2019 – Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today that, following a review by staff of the Ontario Securities Commission, it was issuing the following news release regarding its disclosure on the Segovia project.

More specifically, the company announced that it had filed a modified version of its technical report on its Segovia project (the "modified technical report") of its pre-feasibility study ("PFS") prepared by SRK Consulting (US) , Inc. ("SRK") in accordance with National Instrument 43101 – Standards for disclosure of mining projects ("NI 43-101") The amended Technical Report does not modify any of the Company's prior information regarding the mineral reserve and mineral resource estimates for the Segovia Project, as described in the original Technical Report ( effective date of December 31, 2018) filed on SEDAR on April 25, 2019 (the "Technical Report") In accordance with NI 43-101, the Company has reduced the overall size of the amended technical report of the technical report by eliminating some additional intangible or excessive information contained in the annexes of the technical report Some information, as well as representative diagrams and figures, previously included in the annexes, have also been transferred to the body of the amended technical report.

The amended Technical Report, with the reporting dates of July 8, 2019 and December 31, 2018, was prepared by SRK and entitled "Update of the Amended Technical Report 43/101 on Pre-feasibility Study". of the Segovia project in Colombia ". "Qualified Persons" for NI 43-101 includes Ben Parsons, M.Sc., MAusIMM (CP), Senior Resource Geologist; Brian Olson, B.Sc. in Chemical Engineering, P.ENG, MMSAQP, Senior Metallurgist; Cristian A. Pereira Farias, SME-RM, Senior Hydrogeologist; David Bird, MSc, PG, MSME-MR, Senior Geochemist, Fredy Henriquez, MS Ing, SME, ISRM, Senior Rock Mechanics Consultant; Jeff Osborn, BEng Mining, MMSAQP, Senior Mine Engineer; Fernando Rodrigues, BS Mining, MBA, MAusIMM, MMSAQP, Chief of Practice / Senior Mine Engineer; Joshua Sames, PE, Senior Consultant (SRK Consulting); and Mark Allan Willow, MSc, CEM, SME-RM, Practice Lead / Senior Environmental Scientist.

The amended technical report is available on the company's website at www.grancolombiagold.com and under the company profile on SEDAR at www.sedar.com.

About Gran Colombia Gold Corp.

Gran Colombia is a mid-sized gold producer based in Canada, primarily based in Colombia, where it is currently the largest underground gold and silver producer, with several mines operating at its Segovia and Marmato facilities. Gran Colombia continues to focus on the exploration, expansion and modernization of its high-grade operations in Segovia.

Additional information on Gran Colombia is available on its website at www.grancolombiagold.com and by consulting his profile on SEDAR at www.sedar.com.

Caution regarding forward-looking information

This press release contains "forward-looking information", which may include, but is not limited to, statements regarding: the future financial or operational performance of the Company and the future plans of its activities. Often, but not always, forward-looking statements can be identified by words such as "plans", "expects", "is expected", "budget", "planned", "estimates", "forecasts", "has" "Intention", "anticipates" or "believes" or variations (including negative variations) of such words and expressions, or indicates that certain acts, events or results "may", "could", "would", " could "or" be "taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause Gran Colombia's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in the forward-looking statements are described under "Risk Factors" in the Company's Annual Information Form dated March 27, 2019, which is available on SEDAR at www.sedar.com. sedar.com. The forward-looking statements contained in this document are as of the date of this press release. Gran Colombia disclaims any obligation, other than that required by law, to update such statements, whether as a result of new information, results or circumstances, or if management's estimates or opinions should change. , or otherwise. There can be no badurance that forward-looking statements will prove to be accurate because actual results and future events could differ materially from those anticipated in such statements. Therefore, the reader is cautioned not to place undue reliance on forward-looking statements.

For more information, contact:
Mike Davies
Financial director
(416) 360-4653
[email protected]

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