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Gran Colombia Gold Comments on Trading Activity

Company Commentary

Gran Colombia Gold Comments on Trading Activity

TORONTO, Sept. 22, 2017 -- Gran Colombia Gold Corp. (TSX:GCM) is issuing this press release in response to a request by

the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent volatility in its share price and

the higher-than-typical trading volumes. Gran Colombia confirms that it is not aware of any material undisclosed information

related to the Company or its operations that would account for this trading activity.

Investors are advised that a summary of Gran Colombia's strategy, plans and activities for the remainder of 2017 are available

in the management's discussion and analysis for the three- and six-month periods ended June 30, 2017 and in recent press

releases, which are available electronically on SEDAR and on the Company's website.

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. Gran Colombia is continuing an expansion and modernization

project at its Segovia 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.

For Further Information, Contact:

Mike Davies

Chief Financial Officer

(416) 360-4653

[email protected]