Mr. Serafino Iacono reports

SERAFINO IACONO, EXECUTIVE CO-CHAIRMAN OF GRAN COLOMBIA GOLD, PURCHASES 1,000,000 SHARES OF THE COMPANY

Gran Colombia Gold Corp.'s executive co-chairman, Serafino Iacono, purchased a total of one million common shares of the company between June 8 and June 11, 2012, at an average price of 33.6 cents per share, on the open market. As at June 12, 2012, Mr. Iacono holds 9,681,416 shares of the company (representing 2.53 per cent of issued and outstanding shares). Mr. Iacono also purchased 100,000 units of the company's silver-linked notes at an average price of $77 (U.S.) per unit.

Mr. Iacono commented, "My latest investment in Gran Colombia reflects my continued confidence in the company's strategy and ability to realize the full value of its world-class projects at Segovia and Marmato."

We seek Safe Harbor.