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Gran Colombia Gold Corp (4)
Symbol GCM
Shares Issued 98,485,775
Close 2021-10-13 C$ 5.18
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Gran Colombia produces 49,848 oz Au in Q3 2021

2021-10-13 09:59 ET - News Release

Mr. Mike Davies reports

GRAN COLOMBIA ANNOUNCES THIRD QUARTER 2021 PRODUCTION AND WEBCAST

Gran Colombia Gold Corp. produced a total of 17,213 ounces of gold at its Segovia operations in September, 2021, bringing the total gold production for the third quarter of 2021 to 49,848 ounces, compared with 51,555 ounces from Segovia in the third quarter of 2020. The company also produced 52,382 ounces of silver at Segovia in the third quarter of 2021, up from 47,560 ounces of silver in the third quarter last year. For the first nine months of 2021, Segovia's gold and silver production totalled 151,104 ounces and 164,270 ounces, respectively, up from 146,278 ounces of gold and 134,820 ounces of silver in the first nine months of 2020.

Lombardo Paredes, chief executive officer of Gran Colombia, commenting on the company's latest results, said: "We have maintained a steady pace of production in the third quarter of 2021, which included a planned four-day maintenance shutdown at the Maria Dama plant in July. With our trailing 12-months total gold production from Segovia at the end of the third quarter amounting to 201,187 ounces of gold, up 2 per cent over 2020, we are confident we will meet our production guidance at Segovia for the full year of 200,000 to 220,000 ounces of gold. We are on track to complete our expansion of the Maria Dama plant to 2,000 tonnes per day (tpd) in the fourth quarter of 2021 and our mine and brownfield exploration programs are proceeding as planned. In addition, commissioning of the new polymetallic plant at Segovia is nearing completion and we expect to have our first concentrate production in the fourth quarter of 2021. At the end of September, 2021, we had a cash position of approximately $329-million (U.S.), including the net proceeds of approximately $268-million (U.S.) from the $300-million (U.S.) offering of senior unsecured notes due 2026 completed in August that have been set aside to fund the Toroparu project in Guyana. The gold notes were fully redeemed in September using a portion of the net proceeds of the notes. At the end of September, 2021, in addition to the notes, we had $18-million of convertible debentures outstanding."

The Segovia operations processed an average of 1,487 tpd in the third quarter of 2021 with an average head grade of 12.6 grams per tonne (g/t), compared with 1,283 tpd at an average head grade of 15.1 g/t in the third quarter last year. For the first nine months of 2021, the Segovia operations processed an average of 1,513 tpd with an average head grade of 12.7 g/t, compared with 1,259 tpd at an average head grade of 14.7 g/t in the first nine months last year.

Third quarter 2021 results webcast

Gran Colombia announced today that it will release its results for the 2021 third quarter and first nine months of 2021 after market close on Thursday, Nov. 11, 2021, and will host a conference call and webcast on Friday, Nov. 12, 2021, at 9 a.m. ET to discuss the results.

Webcast and call-in details are as follows.

Canada toll/international:  1-514-841-2157

North America toll-free:  1-866-215-5508

Colombia toll-free:  01-800-9-156-924

Conference ID:  50241486

A replay of the webcast will be available on-line from Friday, Nov. 12, 2021, until Friday, Dec. 10, 2021.

About Gran Colombia Gold Corp.

Gran Colombia is a mid-tier gold producer with a proven record of mine building and operating in Latin America. In Colombia, the company is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia operations. In Guyana, the company is advancing the Toroparu project, one of the largest undeveloped gold projects in the Americas. Gran Colombia also owns an approximately 44-per-cent equity interest in Aris Gold Corp. (Colombia -- Marmato), an approximately 27-per-cent equity interest in Denarius Silver Corp. (Spain -- Lomero-Poyatos; Colombia -- Guia Antigua and Zancudo) and an approximately 26-per-cent equity interest in Western Atlas Resources Inc. (Nunavut -- Meadowbank).

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