Gran Colombia Gold Corp. announced that, further to its press release on December 14, 2015, the company has increased the size of its Board of Directors from six to eight. Effective January 22, 2016, Mr. Peter Volk has resigned from the Board of Directors and the company has appointed Messrs.

Rodney Lamond, Mark Ashcroft and Mark Wellings to fill the three new board positions. The company also announced that it has formed a new Health, Safety, Environment and Technical Committee of the Board. Chaired by Mr. Ashcroft, the committee includes Messrs.

Lamond and Wellings and Mr. Hernan Martinez. At its meeting on January 22, 2016, the Board also affirmed the existing members of its other two committees, the Audit Committee and the Compensation, Corporate Governance and Nominating Committee.