Gran Colombia Gold Continues to Repurchase 2020 Debentures and Provides Details for Its First Quarter 2017 Results Webcast

TORONTO, ON--(Marketwired - May 02, 2017) - Gran Colombia Gold Corp. (TSX: GCM) announced today that it used funds available in the sinking fund for the 2020 Debentures (TSX: GCM.DB.V) to complete a block purchase at a discount under its normal course issuer bid of US$246,831 aggregate principal amount of 2020 Debentures for cancellation. As of today's date, the aggregate principal amount of the 2020 Debentures issued and outstanding is US$100,463,254.

First Quarter 2017 Results Webcast

The Company also confirmed today that it will release its financial results for the first quarter of 2017 after market close on Monday, May 15, 2017 and will host a conference call and webcast on Tuesday, May 16, 2017 at 9:30 a.m. Eastern Time to discuss the results.

A replay of the webcast will be available at www.grancolombiagold.com from Tuesday, May 16, 2017 until Thursday, June 15, 2017.

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 continuing an expansion and modernization project at its Segovia Operations.

Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.