1. TSX: GCM OTCQX: TPRFF
December 2020
Corporate Presentation
December 2020
TSX: GCM OTCQX: TPRFF
The leading high-grade gold
producer in Colombia
2. TSX: GCM OTCQX: TPRFF
December 2020
Disclaimer
Forward-Looking Statements
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 Gran Colombia Gold Corp. (“Company” or “GCM”) and its projects, and,
specifically, statements concerning anticipated growth in annual gold production, future cash costs and AISC, future G&A and
capex, operating and free cash flow, future repayments of its gold-linked notes, future dividends and purchases of common
shares under the NCIB. 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,
2020 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of
the date of this presentation 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.
All amounts are denominated in U.S. dollars, unless indicated otherwise.
2
3. TSX: GCM OTCQX: TPRFF
December 2020
Emerging Mid-Tier Gold Miner
Focus in Colombia
Marmato Project
Caldas Gold Corp. (TSX-V: CGC; OTCQX: ALLXF)
53.5% ownership(2)
o High-grade underground mines
o TTM (1) Production: 204,000 ozs
o One of the Top 5 Highest Grade Underground Global Gold
Mines…16.4 g/t in 2019….14.7 g/t YTD 2020
o Exploration extending existing mines and expanding to
include regional targets in the mining title
o Spun out to Caldas Gold Corp in February 2020, retaining
control position; Aris Gold Transaction (2) bringing funding,
new leadership team and growth strategy
o TTM (1) Production: 24,000 ozs
o Building Colombia’s next major gold mine
o 2020 PFS and Wheaton stream validate underground mine
expansion into the Deeps Zone
Segovia Operations
Flagship Operation
100% ownership
Core Projects in Historic Mining Districts with Significant Exploration Upside
On Track to Produce 218,000 - 226,000 ozs in 2020
Now Paying a Monthly Dividend
3
(1) TTM = Trailing 12 month period ended September 30, 2020.
(2) As of November 27, 2020. Upon completion of the Aris Gold Transaction (page 25),
GCM will hold an ~45% equity interest. See also Caldas Gold’s press release dated
November 23,2020.
4. TSX: GCM OTCQX: TPRFF
December 2020
Fully Diluted = ~88.7M shares
Warrants
GCM.WT.B: 10.6 million @ CA$2.21 (2024 expiry)
Unlisted: 3.3 million @ CA$5.40 (2023 expiry)
Unlisted: 7.1 million @ CA$6.50 (2023 expiry)
Stock Options
1.8 million @ CA$2.55 to CA$6.88 (2021-2025 expiry)
Convertible Debentures
CA$20 million @ CA$4.75 (2024 expiry)
Exchanges
TSX: GCM
OTCQX: TPRFF
Common Shares
61.7 million
Market Capitalization
(as of November 30, 2020)
CA$373 million (1)
Monthly Dividend
• CA$0.015 per common share
• Record date: November 30, 2020
• Payment date: December 15, 2020
NCIB (2)
• Commenced September 4, 2020
for a 12-month period
• Authorized to purchase up to
5.9M common shares
• To date, have purchased
834,100 shares @ CA$6.13 per
share average price
(1) Based on C$6.04 at close on November 30, 2020.
(2) The NCIB will allow the Company to purchase for cancellation up to 5,934,811 Shares of the Company over a 12-month period, representing 10% of the
current issued and outstanding Shares in the public float as of August 31, 2020.
Capital Structure
Undervalued vs Peers
4
$3.50
$4.00
$4.50
$5.00
$5.50
$6.00
$6.50
$7.00
$7.50
$8.00
5. TSX: GCM OTCQX: TPRFF
December 2020
Valuation
Significant Re-Rating Potential
Stifel GMP
BUY: CA$8.75/share target price
(November 11, 2020 Research Report)
“GCM generated $53.5M in Free Cash Flow in Q3-2020 or 20% of the Company’s market cap. GCM has
tripled its newly minted dividend to CA$0.18/share, implying a yield of 3% as of November 11th close. GCM
now has the highest yield within our coverage universe.”
Red Cloud Securities
BUY: CA$16.50/share target price
(November 13, 2020 Research Report)
“We expect Gran Colombia’s share price to be driven by steady operating results coupled with exploration
success at Segovia.”
Fundamental Research
BUY: CA$11.69/share fair value estimate
(November 13, 2020 Research Report)
“GCM’s shares are trading well below junior gold producers. Our fair value estimate increased from
CA$11.41 to CA$11.69 per share due to higher 2021 EPS forecast.”
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6. TSX: GCM OTCQX: TPRFF
December 2020
GCM Dividend Yield Relative to Comps
Source: Company reports. Market data as of November 10, 2020
CA 1.5 cents/share
Record date: November 30, 2020
Payment date: December 15, 2020
7.77%
4.31%
3.24%
2.97%
2.66%
2.46%
1.94% 1.91%
1.69% 1.63% 1.55% 1.47% 1.39% 1.36%
1.14% 1.08% 0.99% 0.94% 0.88% 0.86% 0.80% 0.77%
0.58%
0.39% 0.33%
Average = 1.79%
Centamin
Jaguar
Dynacor
GCM-New
B2Gold
Newmont
Yamana
AgnicoEagle
KirklandLake
Centerra
Kinross
Nomad
Barrick
Osisko
Newcrest
Wheaton
GCM-
Previous
DundeePM
Alamos
PanAmerican
Maverix
Franco-Nevada
Abitibi
Metalla
Silvercorp
Payment Frequency Changed from a
Quarterly to a Monthly Basis
Dividend Declaration
Significant Re-Rating Potential
6
7. TSX: GCM OTCQX: TPRFF
December 2020
Directors
Miguel de la Campa, Vice Chairman –
Company co-founder with 30+ years of
experience in financing and developing
mining and other resource projects
Jaime Perez Branger – Executive with
30+ years of experience in finance and
capital markets
Robert Metcalfe – Lawyer and corporate
director
Hernan Martinez – Former Colombian
Minister of Mines and Energy
De Lyle Bloomquist – Corporate director
Management
Serafino Iacono, Director and Executive Chairman – Company
co-founder with 30+ years of experience in capital markets and
public companies
Lombardo Paredes, CEO - 20+ years of corporate leadership
and operations management experience in the resource sector in
Latin America
Mike Davies, CFO – CPA,CA with 20+ years of international and
public company experience in resource and other sectors
Alessandro Cecchi, VP Exploration – Exploration geologist with
20+ years of experience focused gold exploration and
development in South America
Amanda Fullerton, VP Legal and Corporate Secretary –
Lawyer with 12 years of experience in corporate securities law in
resource industries
Jose Ignacio Noguera, VP Corporate Affairs – Lawyer with 20+
years of experience in public and government affairs and
sustainability in the resource sector in Colombia
Angel Meza, General Manager, Segovia Operations – Mine
engineer with 17+ years of experience in mining operations in
South America and Africa
Inivaldo Diaz, Technical Manager, Segovia Operations – Civil
mine engineer with 24+ years of experience in the mining industry
in South America
The Right Team
Seasoned Experience in Colombia
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8. TSX: GCM OTCQX: TPRFF
December 2020
GRAN COLOMBIA 2.0 Segovia Operations
40.7
13.0
5.5 5.0
2016 2017 2018 2019
LTI Frequency Rate
Health and Safety is
a Top Priority
80
75
93
126
149
193
214
$1,169
$1,037
$695 $655 $664 $623 $607
2013 2014 2015 2016 2017 2018 2019
Production (koz) Cash Cost (US$/oz)
Substantial Production
Growth while Lowering
Costs
DEMONSTRATED OPERATING AND
MINE BUILDING EXPERIENCE IN
LATIN AMERICA
TRACK RECORD OF
IMPROVEMENT
STRONG HEALTH & SAFETY
RECORD
FOCUSED ON BUILDING STRONG
COMMUNITY RELATIONSHIPS
Segovia Lost Time Incidents
Source: Company filings.
The Right Team
Focused on Cash, Costs & Execution
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10. TSX: GCM OTCQX: TPRFF
December 2020
AISC(-23%)
$-
$20
$40
$60
$80
$100
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Gold Notes Convertible Debentures Cash
$M
2018 2019
Gran Colombia’s balance sheet continues to get stronger each quarter
Free Cash Flow and balance sheet strength facilitates an increased monthly dividend commencing November 30, 2020.
(1) Aggregate principal amount of debt outstanding. Excludes Caldas
Gold’s cash and debt.
2020
Results
Cash & Debt (1)
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11. TSX: GCM OTCQX: TPRFF
December 2020
o Issued April 30, 2018 and mature on April 30, 2024
o Senior secured obligation of Gran Colombia
o US$35.5 million outstanding as of November 2, 2020
o Listed on the TSX under the symbol GCM.NT.U
o 8.25% annual coupon paid monthly in cash
o Quarterly principal repayments in cash with gold kicker above US$1,250/oz
o Company sets aside physical gold each month into a Gold Trust Account to meet quarterly principal payment
obligations
o A total of 28,420 ounces, representing less than 5% of Segovia’s projected future production, are required to
meet the remaining principal repayments
B+ (Outlook Stable)
-
5,000
10,000
2020 2021 2022 2023 2024
Amortization Schedule
November 2020 to April 2024
(Ounces to be Deposited to Gold Trust Account)
Gold Notes
Exposure to Upside on Gold
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12. TSX: GCM OTCQX: TPRFF
December 2020
Colombia is an OECD member
country with a growing economy, and
one of the lowest inflation rates in
Latin America.
The latest Colombia Tax Reform
reduces the corporate income tax rate
and repeals the 4% surcharge
imposed on corporate income,
Reducing the total tax rate from 37%
in 2018 to 33% in 2019, and 32% for
2021, and 30% for 2022 and onwards.
Annual GDP
(US$B)
$745
(4th largest in
Latin America)
Population 49.8 Million
GDP Per Capita ($US) $14,943
5-Year GDP CAGR (%) 2.8%
Inflation 3.2%
Public Debt to GDP 50.5%
Free Trade
Agreements
8 countries
(including the US,
Canada, and EU)
Ease of Doing Business
Ranking
3rd best in Latin America
(65th Globally out of 19)
Investor
Protection Ranking
1st in Latin America (15th
Globally out of 190)
Economic Freedom
Index Ranking
45th Globally out of 180
Credit Rating
Investment Grade by
Moody’s, Fitch, and S&P
Why Colombia
A Great Mining Jurisdiction
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14. TSX: GCM OTCQX: TPRFF
December 2020
From 2010 through 2019, Segovia has produced 1.1 Mozs at 13.7 g/t
0
0.5
1
1.5
2
2.5
3
2010 2012 2013 2014 2015 2016 2017 2018 2019
Reserves Other M&I Inferred
M&I
Grade
(g/t)
13.1 12.1 15.2 12.0 11.4 11.8 11.7
Mozs
Drilling suspended
during period of low
gold prices
Total M&I
1.36 Mozs
Total Inferred
1.26 Mozs
14
Segovia Operations
Historical Progression of Mineral Resource and Reserve Estimates
15. TSX: GCM OTCQX: TPRFF
December 2020
1) Derived from the NI 43-101 Technical Report Prefeasibility Study Update, Segovia Project, Colombia, dated May 14, 2020, prepared by SRK Consulting (US) Inc.
(“SRK”).
2) Mineral resources are not mineral reserves and do not have demonstrated economic viability.
3) All figures are rounded to reflect relative accuracy of the estimate. All composites have been capped where appropriate.
4) The Mineral Resources are reported at an in situ cut-off grade of 3.0 g/t Au over a 1.0 m mining width, which has been derived using a gold price of US$1,400 per
ounce and technical and economic parameters for the existing underground mining and conventional gold mineralized material processing using a gold recovery
of 90.5%. Each of the mining areas have been sub-divided into Pillar areas (“Pillars”), which represent the areas within the current mining development, and long-
term resources (“LTR”), which lie along strike or down dip of the current mining development.
5) Derived from the Amended NI 43-101 Technical Report Prefeasibility Study Update, Segovia Project, Colombia, dated July 8, 2019, prepared by SRK.
Project Deposit Type
Measured Indicated Measured & Indicated Inferred
Tonne
s
(kt)
Grade
(g/t)
Au
Metal
(koz)
Tonne
s
(kt)
Grade
(g/t)
Au
Metal
(koz)
Tonne
s
(kt)
Grade
(g/t)
Au
Metal
(koz)
Tonne
s
(kt)
Grade
(g/t)
Au
Metal
(koz)
Segovia
Providencia
LTR 118 15.9 60 296 13.0 124 414 13.8 184 315 8.3 84
Pillars 108 26.1 90 116 12.1 45 224 18.8 135 389 20.0 249
Sandra K
LTR 385 10.3 128 385 10.3 128 315 8.6 87
Pillars 152 10.9 53 152 10.9 53
El Silencio
LTR 824 11.5 304 824 11.5 304 1,736 8.3 462
Pillars 1,459 10.7 504 1,459 10.7 504 395 12.1 154
Verticales LTR 771 7.1 176
Subtotal
Segovia
Project
LTR 118 15.9 60 1,504 11.5 555 1,623 11.8 616 3,136 8.0 809
Pillars 108 26.1 90 1,727 10.8 602 1,835 11.7 692 784 16.0 403
Carla
Subtotal Carla
Project
LTR 154 9.7 48 154 9.7 48 178 9.3 53
December 31, 2019 (1) 226 20.8 151 3,385 11.1 1,205 3,611 11.7 1,356 4,098 9.6 1,265
December 31, 2018 (2) 218 20.0 140 3,289 11.2 1,187 3,507 11.8 1,327 3,562 10.1 1,157
% Change vs previous 4% 4% 8% 3% -1% 2% 3% -1% 2% 15% -5% 9%
In the 2019 MRE update, Gran Colombia more than replaced what it mined in the year
Segovia Operations
Mineral Resource Estimate as of December 31, 2019
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16. TSX: GCM OTCQX: TPRFF
December 2020
Area Category
Tonnes
(kt)
Grade
(g/t)
Au Metal
(koz)
Providencia
Proven 165 16.5 88
Probable 154 12.0 59
Sandra K Probable 249 8.9 71
El Silencio Probable 1,313 9.9 419
Carla Probable 104 10.0 33
December 31, 2019 (1) Total 1,985 10.5 670
December 31, 2018 (2) Total 1,941 11.0 688
% Change vs previous 2% -5% -3%
1) Derived from the NI 43-101 Technical Report Prefeasibility Study Update, Segovia Project, Colombia, dated May 14, 2020, prepared by SRK Consulting (US)
Inc. (“SRK”).
2) Mineral resources are inclusive of mineral reserves.
3) All figures are rounded to reflect relative accuracy of the estimate. All composites have been capped where appropriate
4) Ore reserves are reported using a gold cutoff grade ranging from 3.25 to 4.24 g/t depending on mining area and mining method. The cutoff grade calculations
assume a $1,350/oz Au price, 90.5% metallurgical recovery, $6/oz smelting and refining charges, $25/t G&A, $26/t processing cost, and projected LoM mining
costs ranging from $76/t to 115/t. Mining dilution is applied to a minimum mining height and estimated overbreak (values differ by area/mining method) using a
zero grade. Mineral Reserves have been stated on the basis of a mine design, mine plan, and cash-flow model. There are potential survey unknowns in some
of the mining areas and lower extractions have been used to account for these unknowns.
5) Derived from the Amended NI 43-101 Technical Report Prefeasibility Study Update, Segovia Project, Colombia, dated July 8, 2019, prepared by SRK.
Segovia Operations
Mineral Reserve Estimate as of December 31, 2019
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17. TSX: GCM OTCQX: TPRFF
December 2020
Currently operating mines on only
3 of 27 known veins in the RPP-140
license.
Segovia Operations
Regional Exploration Program Now In Process in Mining Title
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18. TSX: GCM OTCQX: TPRFF
December 2020
Segovia Operations
Maria Dama Processing Plant and “El Chocho” Tailings Storage
• Plant has capacity to handle up to 1,500 tpd. Currently using about 90% and expansion to 2,000 tpd is possible
• Plant includes crushing, grinding, gravity concentration, gold flotation, cyanidation of the flotation concentrate, Merrill-
Crowe precipitation and refining of both the Merrill-Crowe precipitate and gravity concentrate to produce a final doré
• Onsite lab provides quick turnaround of development samples; exploration samples processed in SGS Medellin
• The “El Chocho” tailings storage facility will receive material over the next seven years and a filter press
commissioned in 2019 enables tailings to be dry stacked; onsite water treatment facility is treating excess water to
Colombian standards before being discharged
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19. TSX: GCM OTCQX: TPRFF
December 2020
Artisanal Miner Contract Model
o Agreements with 50 third party miner groups
who mine in designated areas within our title
o GCM pays for recovered gold at fixed price
o Contractors manage miners & fund own costs
o GCM processes ore and sells the gold/silver
o GCM provides health & safety training
Benefits of Contract Mining
o Environmental benefits – GCM controls
processing, reducing mercury use
o Employment – expanded workforce
o Improved health & safety
o Workers receive health & pension benefits
o Government receives tax & royalties
Improving Health & Safety
in our Mines
Funding Education and
Community Programs
Segovia Operations
Governance
o ESG Committee of the
Board provides oversight
o Corporate ESG Manager
focused on enhancing
ESG reporting at
investor level
ESG is in our DNA
Health Education
Environment Community
19
20. TSX: GCM OTCQX: TPRFF
December 2020
Protein Groceries
Sanitation Kits for First Responders
Face Masks, Sewn Locally, Contributing to
Economic Relief
Hospital Equipment
Donations of:
Increased Security &
Protection Protocols
Installation of Facial
Recognition Technology
Employee Sanitization
Stations
Ongoing COVID-19 Relief
Protecting our Workforce and Supporting Communities
20
22. TSX: GCM OTCQX: TPRFF
December 2020
(1) As of November 27, 2020, Gran Colombia owns 53,435,989 common shares
of Caldas Gold.
(2) Refer to Caldas Gold press releases dated July 29, 2020 , August 26, 2020,
and September 29, 2020.
Building Colombia’s Next Major Gold Mine
Mine Expansion into the DEEP ZONE
Caldas Gold Corp (TSX-V: CGC, OTCQX: ALLXF) was
formed in a spin out by Gran Colombia Gold in
February 2020; GCM holds a 53.5% equity interest(1).
• Caldas Gold is focused on a major underground mine
expansion at Marmato to incorporate the
Deep Zone mineralization.
• US$110M stream financing with Wheaton
Precious Metals to fund mine expansion.(2)
• Completed CA$50M equity private placement and US$83M
Gold-Linked Notes Offering as part of the financing for the
mine expansion.(2)
22
• Aris Gold Transaction (page 25) brings funding and new leadership team
23. TSX: GCM OTCQX: TPRFF
December 2020
Building Colombia’s Next Major Gold Mine
Continuing to drill and extend the DEEP ZONE
Caldas Gold Corp (TSX-V: CGC, OTCQX: ALLXF) was
formed in a spin out by Gran Colombia Gold in
February 2020; GCM holds a 57.5% equity interest(1).
Exploration drilling is continuing to upgrade and
expand the Deeps Zone mineralization.
The existing mine has been in operation since 1991
and has produced an average of ~24,000 ozs of gold
annually over the last 10 years (2019 – 25,750 ozs).
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24. TSX: GCM OTCQX: TPRFF
December 2020
o Marmato mine in Zona Baja will comprise of two distinct operations: Upper Zone and Deep Zone
o Upper Zone: Immediate optimization of existing mining operation to reduce dilution, improving production and reducing
cash costs, together with an expansion of the existing processing plant over the next two years from 1,200 tpd to 1,500 tpd.
A total pf 5.1M tonnes to be processed over 13-year life with average LoM Au grade of 4.2 g/t resulting in 0.6M ounces of
gold (32% of total)
o Deep Zone: US$269M initial capital in 2020 to 2023. Total of 14.6M tonnes processed over a 11-year life starting in mid-
2023 at an average LoM Au grade of 2.9 g/t resulting in 1.3M ounces of gold (68% of total)
o Combined:
o 1.9M ounces of gold with LoM cash cost of US$778 per ounce and LoM AISC of US$880/oz.
o At US$1,400 per ounce long-term gold price, total undiscounted LoM after-tax project cash flow of US$491M (NPV
5% - US$256M)
o Before financing, after-tax IRR = 19.5% and payback by 2026
Precious Metal Production Profile (ozs/year)
-
50,000
100,000
150,000
200,000
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Gold Silver
Marmato Project
Life-of-Mine Plan (“PFS”) Results (1)
(1) Source: Caldas Gold NI 43-101 Technical Report Pre-Feasibility Study
Marmato Project Colombia dated August 17, 2020 prepared by SRK.
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25. TSX: GCM OTCQX: TPRFF
December 2020
FOUNDERS, CHAIRS &
LEADERS OF THE WORLD’s
TOP MINING COMPANIES
Ian Telfer
Chair, Independent
David Garofalo
Independent
Peter Marrone
Independent
Neil Woodyer
CEO, Independent
Attie Roux
Non-Independent
Daniela Cambone
Independent
Serafino Iacono
Non-independent, GCM Nominee
Hernan Martinez
Independent; GCM Nominee
CA$85M NON-BROKERED PRIVATE PLACEMENT
37,777,778 UNITS AT CA$2.25
(each unit = 1 share + 1 warrant @ CA$2.75)
GRAN COLOMBIA RETAINS ~45% EQUITY STAKE
~$38M OF PERSONAL PARTICIPATION FROM
INCOMING LEADERSHIP GROUP
MDZ EXPANSION FULLY FUNDED
PROVEN TRACK RECORD OF BUILDING
SUCCESSFUL PRECIOUS METALS MINING
COMPANIES
CHANGING NAME TO ARIS GOLD CORPORATION
Neil Woodyer
CEO
Attie Roux
Technical Consultant
Doug Bowlby, CFA
SVP, Corporate
Andrew Gubbels
SVP, Corporate Development
Ashley Baker, LL.B
General Counsel & Secretary
Robert Eckford, CPA
VP, Finance & CFO
Richard Thomas, P.Eng.
Technical Consultant
BOARD OF DIRECTORS MANAGEMENT
“I am extremely excited to introduce a new leadership team
and financing partners to Caldas Gold.” Serafino Iacono,
Chairman and CEO of Caldas Gold
“…the launch of the new Aris Gold. We believe the Marmato
mine with its current production and expansion plans
supported by a large-scale gold resource represents an ideal
platform for us to build a major gold mining company.” Neil
Woodyer, CEO of Aris Gold
“… a strong Board with an outstanding, fully-funded growth
asset in Colombia….. a strong macro-economic backdrop from
which to launch a gold company.” Ian Telfer, Chairman of Aris
Gold
Aris Gold Transaction (1)
Funding & New Leadership at CGC
25(1) Refer to Caldas Gold press release dated November 23, 2020
Frank Giustra
Mining financier, philanthropist
STRATEGIC ADVISOR
26. TSX: GCM OTCQX: TPRFF
December 2020
Juby
Project
Toroparu
Meadowbank
Zancudo
Project
• Location: Colombia
• Former high-grade producer in the Titribi mining district of Antioquia, about 27 km south of Medellin
• Currently being drilled by IAMGOLD under a 6-year option agreement signed in March 2017 whereby IAMGOLD can
earn up to 70%
• Entered into a LOI on September 23, 2020 to spin out its interest to ESV Resources (TSXV:ESV.H) for 27,000,000
common shares. ESV plans to become a silver-focused company, changing its name to Denarius Silver Corp. Gran
Colombia subscribed for CA$3,000,000 of subscription receipts in a non-brokered private placement
• Location: Ontario
• Caldas Gold completed the acquisition of a 100% interest on July 2, 2020
• Advanced exploration-stage gold project within the Shining Tree area in the southern part of the Abitibi greenstone
belt. Gold was discovered in the Shining Tree area in the 1930’s
• Over 14,000 acres controlled through claims covering 10 km strike length on the mineralized trend
• Completed an updated Mineral Resource estimate with an effective date of July 14, 2020. Indicated Resources of
773,000 ozs (21.3 Mt @ 1.13 g/t) and Inferred Resources of 1,488,000 ozs (47.1 Mt @ 0.98 g/t)
• Preparing for a proposed drilling program for execution in 2021
• Location: Guyana
• 18% equity interest (TSX-V: GLDX).
• Advancing PFS for one of the largest undeveloped gold deposits in the Americas with 7.35 Mozs M&I and 3.15
Mozs Inferred. Commencing 58 km road connecting it to the Aurora Project and Tidewater
• Recently commenced a 12,000 m drilling program to upgrade and expand mineral resources at Toroparu
• Location: Nunavut
• 26% equity interest (TSX-V: WA).
• Exploring its 100% owned Meadowbank Project strategically positioned along trend immediately adjacent to Agnico
Eagle’s Meadowbank/ Amaruq producing gold mines
• Recently completed initial 3,545 m drilling program
Pipeline
Additional Opportunities for Growth and Value Creation for Gran Colombia
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27. TSX: GCM OTCQX: TPRFF
December 2020
Why Invest in Gran Colombia?
Leading High-Grade Gold Producer in Colombia
Undervalued versus peers
Strong free cash flow yield and healthy balance sheet
Pays monthly dividend
Segovia is one of the highest grade global underground gold mines
Focusing on significant exploration upside at Segovia
Strong management with Latin American mining experience
27
28. TSX: GCM OTCQX: TPRFF
December 2020
For Further Information;
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com
