Caldas Gold Corp. (TSX-V: CGC) (OTCQX: ALLXF) announced that it produced a total of 2,174 ounces of gold in November 2020 bringing the total for the first eleven months of 2020 to 21,312 ounces compared with 23,492 ounces in the first eleven months last year. The Marmato Project’s year-to-date gold production results reflect the impact of COVID-19 on its mining operations, principally during the period from late March through July of this year.

Lombardo Paredes, President of Caldas Gold, commenting on the Company’s latest production results, said, “We focus on what we can control in these volatile markets: cash, costs and execution. Our people continue to do what it takes to keep our operations running safely during the second wave of the pandemic as we implement our mine plan and plant expansion in the existing Upper Zone mining operation while execution of the Deep Zone expansion plan gets underway. Overall, we are pleased with the progress we have made this year in such challenging times.”

In November 2020, mine operations proceeded as planned. Maintenance in the plant’s crushing facility limited processing to an average of 677 tonnes per day in the month at an average head grade of 3.7 g/t, the best monthly grade reported this year. The mine has built up a stockpile of approximately 6,000 tonnes at an average head grade of 3.3 g/t that will be processed in the coming months. The Company continues to expect its 2020 annual production at Marmato will range between 23,000 and 26,000 ounces of gold.

About Caldas Gold Corp.

Caldas Gold is a Canadian junior mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato Project in the Department of Caldas, Colombia. Caldas Gold also owns 100% of the Juby Project, an advanced exploration-stage gold project located within the Shining Tree area in the southern part of the Abitibi greenstone belt about 100 km south-southeast of the Timmins gold camp.