Gran Colombia announces an 18 percent increase to 11.8 million ounces of gold and a 26 percent increase to 80.3 million ounces of silver in the Measured and Indicated categories at its Marmato Operations

* Mineral resources are not mineral reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate. All composites have been capped where appropriate. Mineral resources are reported at a cut-off grade of 0.3 g/t and based on a price of US$1,400 per ounce of gold with gold recoveries of 88 percent and without considering revenues from other metal.

In addition to the above "in-pit" mineral resource, SRK has also identified a mineral resource, which it considers as potentially amenable to underground mining, of 0.3 million tonnes representing 17,000 ounces of gold (grading 2.05 g/t) and 118,000 ounces of silver (grading 14.26 g/t) in the Indicated category, and 6.7 million tonnes representing 563,000 ounces of gold (grading 2.62 g/t) and 947 ounces of silver (grading 4.41 g/t) in the Inferred resource category. This underground resource is located below the material considered potentially minable via open pit methods.

In comparison to the previous resource update of September 2011 , the updated model represents a 2.0 million ounce increase of gold resources and reduction in the gold grade. The reduction in gold grades from 1.0 g/t to 0.9 g/t has been attributed to an increase in tonnage, resulting from the increase in gold price from $1,200 to $1,400 per ounce, and to the introduction of a hard-boundary to domain the high grade intersections in the core of the deposit to form the grade shell deeps zone.

This Mineral Resource Estimate for the Marmato deposit is effective as of June 12, 2012 . The estimate is based on some 216,000 metres of diamond drilling and cross-cut sampling (primarily diamond drilling), completed up to March 25, 2012 . The estimate has been reported according to Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards and will be supported by a National Instrument 43-101 independent technical report which will be published and filed on the Company's website and SEDAR profile within 45 days.