1

TSX: GCM OTC: TPRFF August 14, 2015

Lombardo Paredes Arenas, CEO Mike Davies, CFO

The leading high-grade gold producer in Colombia

Q2 and First Half 2015 Results August 14, 2015

2

TSX: GCM OTC: TPRFF August 14, 2015

Forward-Looking Statements DISCLAIMER

This presentation contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects and, specifically, statements concerning anticipated growth in annual gold production and reduction of cash costs. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2015 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

3

TSX: GCM OTC: TPRFF August 14, 2015

RESULTS

Highlights

Mine development at Sandra K – July 17, 2014

4

TSX: GCM OTC: TPRFF August 14, 2015

RESULTS

Segovia Q2-2015 up 12% over Q2-2014….improved overall head grades averaging 15.5 g/t this quarter

with contract mining cooperatives representing 86% of Segovia’s gold production.

Marmato Processed 778 tpd in Q2-2015; slightly higher grades (2.94 g/t) than Q1-2014.

Production

5

TSX: GCM OTC: TPRFF August 14, 2015

Q2-2015 total cash cost for the Company was $801/oz.

Colombian peso devaluation, Q1 reduction in Segovia contract miner rate and improved production reducing fixed costs on a per ounce basis were key drivers to improvements in 2015 total cash cost per ounce at Segovia and the Company average.

Cash Cost Per Ounce

RESULTS

117

89

$700

$900

$1,100

$1,300

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

Segovia

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

Marmato

$941

19% of Q2-2015 gold sales

2013 2013 2014 2014

US$/oz sold

$742

2015 2015

81% of Q2-2015 gold sales

6

TSX: GCM OTC: TPRFF August 14, 2015

Reductions in cash costs and G&A since the beginning of 2013 have been the key to our success in reducing AISC to the current level below $1,000/oz.

All-In Sustaining Costs

*All-In Sustaining cash cost per ounce includes total cash costs per ounce and adds the sum of G&A, sustaining capital and certain E&E costs and provision

for environmental discharge fees

RESULTS A

ISC (-2

3%

)

$600

$800

$1,000

$1,200

$1,400

$1,600

Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15

G&A,SustainingCapex and Other

Cash Cost

$904

US$/oz sold

7

TSX: GCM OTC: TPRFF August 14, 2015

Balance Sheet

RESULTS

* Excludes current portion of short and long-term debt and Marmato titles payables

8

TSX: GCM OTC: TPRFF August 14, 2015

2015 OUTLOOK

Priorities

1. Continue monthly interest payments on Gold and Silver Notes

2. Reorganize debt

3. Implement optimized mine plan at Segovia

Primary focus on development and mechanization at Providencia

Secondary focus on development and mechanization at El Silencio

Targets

Total gold production – 114,000 to 136,000 ozs

Segovia – 90,000 to 110,000 ozs

Marmato – 24,000 to 26,000 ozs

Cash cost - $700 to $750 per oz

G&A - $6M = $45 to $50 per oz

Sustaining capex - $140 to $190 per oz

Environmental fee - $13 per oz

AISC - $900 to $1,000 per oz

9

TSX: GCM OTC: TPRFF August 14, 2015

www.grancolombiagold.com @GCMGold

Follow us on:

@GCMGold

Gran Colombia Gold