Gran Colombia Gold Corp. (TSX: GCM) (OTCQX: TPRFF) announces as a result of a review by staff of the Ontario Securities Commission, it is issuing the following news release regarding its disclosure on the Segovia Project.

Specifically, the Company announced that it has filed an amended version of its prefeasibility study technical report on its Segovia Project prepared by SRK Consulting (U.S.), Inc. pursuant to National Instrument 43‐101 – Standards of Disclosure for Mineral Projects. The Amended Technical Report does not change any of the Company’s previous disclosures regarding the Mineral Reserve and Mineral Resource estimates for the Segovia Project as outlined in the initial technical report (effective date of December 31, 2018) filed on SEDAR on April 25, 2019. In compliance with NI 43-101, the Company has reduced the overall size of the Amended Technical Report from the Technical Report by eliminating certain immaterial or excessive supplementary information contained within the appendices of the Technical Report. Certain information and representative charts and figures, previously included in the appendices, have also been moved into the body of the Amended Technical Report.

The Amended Technical Report, with a report date of July 8, 2019 and an effective date of December 31, 2018, was prepared by SRK and is entitled “Amended NI 43-101 Technical Report Prefeasibility Study Update Segovia Project Colombia”. The “qualified persons” for the purposes of NI 43-101 include Ben Parsons, MSc, MAusIMM (CP), Principal Resource Geologist; Brian Olson, BS Chemical Engineering, P.ENG, MMSAQP, Senior Metallurgist; Cristian A. Pereira Farias, SME-RM, Senior Hydrogeologist; David Bird, MSc, PG, SME-RM, Principal Geochemist, Fredy Henriquez, MS Eng, SME, ISRM, Principal Consultant, Rock Mechanics; Jeff Osborn, BEng Mining, MMSAQP, Principal Mining Engineer; Fernando Rodrigues, BS Mining, MBA, MAusIMM, MMSAQP, Practice Leader/Principal Mining Engineer; Joshua Sames, PE, Senior Consultant (SRK Consulting); and, Mark Allan Willow, MSc, CEM, SME-RM, Practice Leader/Principal Environmental Scientist.

The Amended Technical Report is available on the Company’s website at www.grancolombiagold.com and under the Company’s profile on SEDAR at www.sedar.com.

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mines in operation at its Segovia and Marmato Operations. Gran Colombia is continuing to focus on exploration, expansion and modernization activities at its high-grade Segovia Operations.