SOURCE: Gran Colombia Gold Corp.

Gran Colombia Gold Corp.

June 23, 2016 17:40 ET

Voting Results of the Annual Meeting of the Shareholders of Gran Colombia and 2016 Production Update

TORONTO, ON--(Marketwired - June 23, 2016) - Gran Colombia Gold Corp.'s (TSX: GCM) (OTC PINK: TPRFF) Annual Meeting of Shareholders was held on Thursday, June 23, 2016. The detailed results of the votes for each matter to be acted upon are set out below:

Item No.  Description of matter  Outcome of vote  Voted  Voted (%)
1.  Fixing the number of directors at ten.  Approved  84,811,905 For  98.63%
1,173,881 Against 1.37%
2.  The election of the following individuals as directors of the Corporation to hold office until the next annual meeting of the Corporation or until their successors are appointed or elected:         
 Miguel de la Campa  Approved  79,685,634 For  99.01%
 797,405 Withheld 0.99%
 Serafino Iacono  Approved  79,286,634 For  98.51%
 1,196,405 Withheld 1.49%
 Mark Ashcroft  Approved  79,685,566 For  99.01%
 797,473 Withheld 0.99%
 Edward Couch  Approved  79,431,378 For  98.69%
 1,051,661 Withheld 1.31%
 Rodney Lamond  Approved  79,685,910 For  99.01%
 797,129 Withheld 0.99%
 Ian Mann  Approved  79,431,378 For  98.69%
 1,051,661 Withheld 1.31%
 Hernan Juan Jose Martinez Torres  Approved  79,685,625 For  99.01%
 797,414 Withheld 0.99%
 Robert Metcalfe  Approved  79,685,625 For  99.01%
 797,414 Withheld 0.99%
 Jaime Perez Branger  Approved  79,286,625 For  98.51%
 1,196,414 Withheld 1.49%
 Mark Wellings  Approved  79,685,901 For  99.01%
 797,138 Withheld 0.99%
3.  Appointing KPMG LLP as auditors of the Corporation at a remuneration to be fixed by the directors.  Approved  85,709,927 For   99.68%
275,860 Withheld 0.32%

2016 Production Update

Gran Colombia also announced today that its total gold production for the month of May was 13,141 ounces bringing the total for the first five months of 2016 to 56,682 ounces, up 36% over the same period last year. At the Segovia Operations, 11,023 ounces of gold were produced in May bringing its total production to 46,976 ounces for the first five months of 2016, up 44% over the same period last year. A 50% increase in tonnes milled in 2016, averaging 735 tpd through the first five months, has been the primary contributor to Segovia's production improvement in 2016. In the Company-operated mining areas at Segovia, which represent about half of the tonnes milled this year, development and mechanization activities in the Providencia and El Silencio mines have generated a 50% improvement in tonnes milled in 2016 and a 17% increase in head grades compared with the same period last year. Gran Colombia has also seen a 49% increase in ore sourced from the contract mining cooperatives in the first five months of 2016 with head grades averaging 22 g/t. At the Marmato underground mine, May's gold production of 2,118 ounces brought the total for the first five months of 2016 to 9,707 ounces, up 7% over the same period last year. Gran Colombia remains on track to meet its annual production guidance of 120,000 to 138,000 ounces of gold.

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 in the midst of an expansion and modernization project at its Segovia Operations.

Additional information on Gran Colombia can be found on its website at and by reviewing its profile on SEDAR at

Cautionary Statement on Forward-Looking Information:

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to production guidance. 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 30, 2016, which is available for view on SEDAR at 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.

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