Gran Colombia Gold Meets Q1 2016 Gold Production Expectation; Announces Upcoming Webcast on Q1 2016 Results

TORONTO, ON--(Marketwired - May 02, 2016) -  Gran Colombia Gold Corp. (TSX: GCM) (OTC PINK: TPRFF) announced today that it met its expectation for the first quarter of 2016, producing 31,489 ounces of gold, up 4.8% from the fourth quarter of 2015 and up 31.4% from the first quarter a year ago. The Company remains on track with its production guidance for 2016 of a total of 120,000 to 138,000 ounces for the year.

At the Segovia Operations, first quarter 2016 gold production totalled 25,999 ounces, up 8.9% from the fourth quarter of 2015 and up 40.3% from the first quarter a year ago. Gran Colombia processed an average of 730 tpd with head grades averaging 12.9 g/t at Segovia in the first quarter of 2016, an improvement from 678 tpd at an average head grade of 12.0 g/t in the fourth quarter of 2015 and 500 tpd at head grades averaging 14.1 g/t in the first quarter a year ago. Gran Colombia expects to produce a total of 96,000 to 110,000 at its Segovia Operations for the full year 2016.

At the Marmato Operations, Gran Colombia processed 820 tpd at an average head grade of 2.6 g/t yielding gold production of 5,490 ounces in the first quarter of 2016, down 11.2% from the fourth quarter of 2015 in which it processed 860 tpd at head grades averaging 2.8 g/t and on par with the first quarter a year ago when it processed 813 tpd at head grades averaging 2.6 g/t. Gran Colombia expects to produce a total of 24,000 to 28,000 at its Marmato Operations for the full year 2016.

Q1 2016 Results Webcast

The Company also announced today that it will release its financial results for the first quarter of 2016 after market close on Thursday, May 12, 2016 and will host a conference call and webcast on Friday, May 13, 2016 at 9:30 a.m. Eastern Time to discuss the results.

Webcast and call-in details are as follows:

Live Event link: http://edge.media-server.com/m/p/7hmyqdxe
Toronto & International: 1 [phone]
North America Toll Free: 1 [phone]
Colombia Toll Free: 01 800 9 156 924
Conference ID: 42439708

A replay of the webcast will be available at www.grancolombiagold.com from Friday, May 13, 2016 until Sunday, June 12, 2016.

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato Operations. Gran Colombia is currently in the midst of an expansion and modernization project at its high grade, production stage Segovia Operations.