Gran Colombia Files National Instrument 43-101 Mineral Resource Estimate Report for its Carla Mine ,

TORONTO, May 29, 2012 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM) announced today that it has filed a National Instrument 43-101 mineral resource estimate for its Carla Mine in Colombia, as announced in its news release dated April 15, 2012. The Technical Report is available on the Company's profile on SEDAR at www.sedar.com and will be posted on the Company's website at www.grancolombiagold.com.

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. In addition, Gran Colombia is advancing a project to develop a large-scale, gold and silver mine at its Marmato operations.

Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.

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For further information:

Roy MacDonald VP, Investor Relations (416) 360-4653

CO: Gran Colombia Gold Corp.

CNW 16:57e 29-MAY-12