Mr. Roy MacDonald reports

GRAN COLOMBIA ANNOUNCES AN OVERNIGHT MARKETED OFFERING

Gran Colombia Gold Corp., in connection with the company's previously announced equity offering (see press releases dated Nov. 19, 2013, and Feb. 19, 2014), will proceed with an overnight marketed offering of securities whereby GMP Securities L.P. will act as the underwriter in respect of the offering. An underwriting agreement for the offering has not yet been entered into by the company and the underwriter. The units will be priced in the context of the market, with final terms of the offering to be determined at the time of pricing and the entering into an underwriting agreement.

Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant (each whole common share purchase warrant). Each warrant will entitle the holder thereof to purchase one common share at a price to be determined in the context of the market. Warrants will expire five years following the closing of the offering. The warrants will be subject to an accelerated expiration date in certain circumstances, as more particularly described in the company's amended and restated preliminary short form prospectus filed on SEDAR on Feb. 18, 2014.

The underwriter will also have the option to purchase from the company additional units up to a number equal to 15 per cent of the units issued under the offering, exercisable for additional common shares and/or warrants, in any combination, on the same terms and conditions at any time and from time to time up to 30 days from and including the closing date to cover overallotments, if any, and for market stabilization purposes.

The closing of the offering is subject to certain conditions including, but not limited to, the execution of a definitive underwriting agreement with the underwriter, receipt of all necessary regulatory and stock exchange approvals including the receipt of listing approval by the Toronto Stock Exchange.

The closing date will take place in March, 2014, or such other date agreed upon by the company and the underwriter. For more information, potential investors should read the amended prospectus, together with the documents incorporated by reference therein, including the risk factors. A copy of the amended prospectus is available on the SEDAR website.

We seek Safe Harbor.