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TSX: GCM OTC: TPRFF August 2014

Lombardo Paredes Arenas, CEO Mike Davies, CFO

The leading high-grade gold producer in Colombia

Q2 2014 Results August 14, 2014

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TSX: GCM OTC: TPRFF August 2014

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, 2014 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.

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TSX: GCM OTC: TPRFF August 2014

Q2 2014 RESULTS

Cash, Costs & Execution

Highlights

Mine development at Sandra K – July 17, 2014

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TSX: GCM OTC: TPRFF August 2014

Q2 2014 RESULTS

Segovia Q2-2014 represented a 48% improvement over Q1-2014 Re-commenced mining in high grade pillars in Q2, improving grades in Company-operated areas Grade improvement also helped contract miner production rebound from Q1-2014

Marmato Continuing steady mine operations

Production

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TSX: GCM OTC: TPRFF August 2014

Q2 included operational restructuring costs (workforce reduction, supplier contract termination) at Segovia of $2.3 million

Excluding these costs, Q2’s cash cost per ounce was down 11% versus a year ago

Cash Cost Per Ounce

Modern Mechanised Mining to Drive Long-Term Cost Improvements

Q2 2014 RESULTS

1,001

1,014

117

89

Sego

via

M

arm

ato

C

om

pan

y

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TSX: GCM OTC: TPRFF August 2014

Q2-2014 AISC includes $89 per ounce of operational restructuring costs

- $1,114 per ounce excluding this costs

Production growth in H2-2014 key driver to future AISC reductions

All-In Sustaining Costs

2014 AISC Expected

below $1,025

*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

Q2 2014 RESULTS

ALL-IN SUSTAINING COSTS* (per oz)

Q1’13a

Q2’13a

Q3’13a

Q4’13a

AISC

AISC

(-23

%)

Cash Cost Sustaining Capex G&A Environmental Fees

Q1’14a

Q2’14a

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TSX: GCM OTC: TPRFF August 2014

Balance Sheet

Q2 2014 RESULTS

* Excludes gold notes cash and Marmato titles payables **Repaid in July 2014

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TSX: GCM OTC: TPRFF August 2014

PAMPA VERDE

Timeline

Engineering

2014 2015

Concrete

Steel

Mechanical + Electrical + Piping

Filter Press

PR

OC

ESSI

NG

P

LAN

T P

RO

VID

ENC

IA

SHA

FT

Excavation

Concrete + Winch

Hoist

RA

MP

S

Providencia 3 LEVELS

Sandra K 4 LEVELS

Carla DEVELOPMENT 1.7Km

Testing + Commissioning

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TSX: GCM OTC: TPRFF August 2014

Crushing station

PAMPA VERDE New Plant Site

May 9, 2013

April 22, 2014

Terrace Level 628

Office / workshop/ warehouses

Flotation thickener/CIL area

Carbon

Mill

Stock Pile

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TSX: GCM OTC: TPRFF August 2014

PAMPA VERDE New Plant Site

August 11, 2014

Equipment warehouse

SAG Mill Ball mill

Thickeners

Stockpile

Office/ warehouse

Refinery & Smelting Grinding

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TSX: GCM OTC: TPRFF August 2014

PAMPA VERDE New Plant Site

(A) PLANT AREAS 05- CRUSHING 10- GRINDING 15- FLOTATION / REGRINDING 20- LEACHING / CIL 25- REFINERY AND SMELTING 30- DETOXIFICATION AND TAILINGS 35- REACTIVE MATERIALS 40- PROCESS WATER AND POTABLE WATER 45- AIR 50- DIESEL FUEL 55- SEPTIC TANKS / RESIDUAL WATERS 60- OFFICE / WORKSHOPS / WAREHOUSES / FIRE PROTECTION NETWORK / GATE

GENERAL VIEW

16- STOCK PILE 17- DINING HALL 18- OFFICES 19- GENERAL WAREHOUSE 20- BALL MILL 21- SAG MILL 22- PLANT WORKSHOP 23- MOTOR CONTROL CENTRE 24- REFINERY 25- SUB STATION 26- REGENERATION AREA 27- EMERGENCY PLANT 28- ELUTION AREA 29- COMPRESSOR AREA 30- HELIPORT

GENERAL ARRANGEMENT OF THE PLANT

01- REACTIVE MATERIALS STORAGE 02- FUEL STORAGE 03- FLOTATION AREA 04- PROCESS WATER POOL 05- REGRINDING AREA 06- WATER FOR PROCESS / FRESH / FIRE PROTECTION SYSTEM 07- PREPARATION OF REACTIVE MATERIALS 08- CIL AREA 09- TAILINGS THICKENER 10- CONCENTRATE THICKENER 11- SCREEN FOR REMOVAL OF IMPURITIES 12- FLOTATION THICKENER 13- HYDRO-CYCLONES 14- CRUSHING STATION 15- SCALES

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TSX: GCM OTC: TPRFF August 2014

2014 OUTLOOK

102,000 to

122,000 102,000

$1,152

$1,322

2013A 2014E

Segovia mine development at Providencia & Sandra K

- Increased tonnages - Improved head grades Increase in daily tonnages from

contract miners

H2 2014 PERFORMANCE DRIVERS

$860 to

$900

$960 To

$1,025

1H’14A

44,913

$1,081

$1,200

Maintaining Guidance

Continued focus on controlling & reducing costs

Positive impact of increased production on fixed operating costs

Cash cost reductions Positive impact on G&A/oz of

production increase Continuing to control G&A and

sustaining capex.

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TSX: GCM OTC: TPRFF August 2014

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Gran Colombia Gold