Corporate Presentation January 2021 - OTCQX: TPRFF - The leading high-grade gold producer in Colombia
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Corporate Presentation
January 2021
The leading high-grade gold producer in Colombia
TSX: GCM
TSX: GCM | OTCQX: TPRFF
January 2021 OTCQX: TPRFF
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. TSX: GCM | OTCQX: TPRFF January 2021 2
Emerging Mid-Tier Gold Miner
Focus in Colombia
On Track to Produce 218,000 - 226,000 ozs in 2020
Now Paying a Monthly Dividend
Segovia Operations Marmato Project
Flagship Operation Caldas Gold Corp. (TSX-V: CGC; OTCQX: ALLXF)
100% ownership 53.5% ownership(2)
o High-grade underground mines o Spun out to Caldas Gold Corp in February 2020, retaining
control position; Aris Gold Transaction (2) bringing funding,
o TTM (1) Production: 204,000 ozs new leadership team and growth strategy
o One of the Top 5 Highest Grade Underground Global Gold o TTM (1) Production: 24,000 ozs
Mines…16.4 g/t in 2019….14.7 g/t YTD 2020
o Building Colombia’s next major gold mine
o Exploration extending existing mines and expanding to
include regional targets in the mining title o 2020 PFS and Wheaton stream validate underground mine
expansion into the Deeps Zone
Core Projects in Historic Mining Districts with Significant Exploration Upside
(1) TTM = Trailing 12 month period ended September 30, 2020.
(2) As of December 31, 2020. Upon completion of the Aris Gold Transaction (page 26),
TSX: GCM | OTCQX: TPRFF GCM will hold an ~45% equity interest. See also Caldas Gold’s press release dated
January 2021 November 23,2020. 3
Capital Structure
Undervalued vs Peers
Fully Diluted = ~88.7M shares
Exchanges
TSX: GCM Monthly Dividend
Warrants
• CA$0.015 per common share GCM.WT.B: 10.6 million @ CA$2.21 (2024 expiry)
OTCQX: TPRFF • Record date: December 31, 2020
• Payment date: January 15, 2021 Unlisted: 3.3 million @ CA$5.40 (2023 expiry)
Market Capitalization Unlisted: 7.1 million @ CA$6.50 (2023 expiry)
(as of December 31, 2020)
CA$497.8 million (1) NCIB (2) Stock Options
• Commenced September 4, 2020
for a 12-month period 1.7 million @ CA$2.55 to CA$6.88 (2021-2025 expiry)
• Authorized to purchase up to
Common Shares 5.9M common shares Convertible Debentures
61.8 million • To date, have purchased
834,100 shares @ CA$6.13 per CA$20 million @ CA$4.75 (2024 expiry)
share average price
$8.50
$8.00
$7.50
$7.00
$6.50
$6.00
$5.50
$5.00
$4.50
$4.00
$3.50
(1) Based on C$8.06 at close on December 31, 2020.
TSX: GCM | OTCQX: TPRFF (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
January 2021 current issued and outstanding Shares in the public float as of August 31, 2020. 4
Valuation
Significant Re-Rating Potential
One-year growth of 44.7% to close 2020 at $8.06/share
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.”
TSX: GCM | OTCQX: TPRFF
January 2021 5
Dividend Declaration
Significant Re-Rating Potential
Next Dividend:
CA 1.5 cents/share
7.77% Record date: December 31, 2020
Payment date: January 15, 2021
Payment Frequency Changed from a Quarterly to a
4.31%
Monthly Basis as of November 30, 2020 Record Date
3.24%
2.97%
2.66%
2.46%
1.94% 1.91% Average = 1.79%
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%
Dynacor
Previous
Jaguar
B2Gold
Newmont
Barrick
Yamana
Kirkland Lake
Centerra
Alamos
GCM - New
Agnico Eagle
Nomad
Wheaton
Dundee PM
Centamin
Pan American
Maverix
Kinross
Newcrest
Abitibi
Metalla
Osisko
Franco-Nevada
Silvercorp
GCM -
GCM Dividend Yield Relative to Comps
TSX: GCM | OTCQX: TPRFF Source: Company reports. Market data as of November 10, 2020
January 2021 6
Investment Pipeline
Meadowbank Juby Project
Ontario
Nunavut
53.5% equity interest
26% equity interest
(TSX-V: CGC)
(TSX-V: WA)
Opportunities for Growth & Value Creation
Zancudo
Colombia
100% equity interest (1)
Toparu
Guyana
18% equity interest
(TSX-V: GLDX)
Marmato
Colombia
53.5% equity interest
(TSX-V: CGC)
TSX: GCM | OTCQX: TPRFF (1) Entered into a letter of intent dated effective September 23, 2020 with ESV Resources
January 2021 Ltd.. Refer to Gran Colombia’s press release dated September 24, 2020. 7
The Right Team
Seasoned Experience in Colombia
Management Directors
Serafino Iacono, Director and Executive Chairman – Company Miguel de la Campa, Vice Chairman –
co-founder with 30+ years of experience in capital markets and Company co-founder with 30+ years of
public companies experience in financing and developing
mining and other resource projects
Lombardo Paredes, CEO - 20+ years of corporate leadership
and operations management experience in the resource sector in Jaime Perez Branger – Executive with
Latin America 30+ years of experience in finance and
capital markets
Mike Davies, CFO – CPA,CA with 20+ years of international and
public company experience in resource and other sectors Robert Metcalfe – Lawyer and corporate
director
Alessandro Cecchi, VP Exploration – Exploration geologist with
20+ years of experience focused gold exploration and Hernan Martinez – Former Colombian
development in South America Minister of Mines and Energy
De Lyle Bloomquist – Corporate director
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
TSX: GCM | OTCQX: TPRFF
January 2021 9
The Right Team
GRAN COLOMBIA 2.0 Segovia Operations
Focused on Cash, Costs & Execution Production (koz) Cash Cost (US$/oz)
214
Substantial Production 193
Growth while Lowering
Costs 149
126
$1,169
DEMONSTRATED OPERATING AND
$1,037 93
80
75
$695 $655 $664 $623 $607
MINE BUILDING EXPERIENCE IN
LATIN AMERICA
TRACK RECORD OF 2013 2014 2015 2016 2017 2018 2019
IMPROVEMENT
Segovia Lost Time Incidents
STRONG HEALTH & SAFETY
LTI Frequency Rate
40.7
RECORD Health and Safety is
a Top Priority
FOCUSED ON BUILDING STRONG
COMMUNITY RELATIONSHIPS
13.0
5.5 5.0
2016 2017 2018 2019
Source: Company filings.
TSX: GCM | OTCQX: TPRFF
January 2021 9
Results
Performance Drivers
Annual Gold Production reaches 240,000 ozs in 2019 Higher gold prices fueling Adjusted EBITDA growth
240 $150
Segovia
200
Marmato
160 $100
kozs
120 $M
80 $50
40
- $-
2017 2018 2019 9M-2019 9M-2020 2017 2018 2019 9M-2019 9M-2020
AISC reflects focus on controlling costs Free Cash Flow is servicing debt and building cash
$1,050 $120
AISC Total Cash Cost Operating Cash Flow Free Cash Flow
$100
$700 $80
US$/oz $M
$60
$350 $40
$20
$- $-
2017 2018 2019 9M-2019 9M-2020 2017 2018 2019 9M-2019 9M-2020
TSX: GCM | OTCQX: TPRFF
Refer to Company’s MD&A for computations. 10
January 2021Results
Cash & Debt (1)
$100
Gold Notes Convertible Debentures Cash
$80
AISC (-23%)
$60
$M
$40
$20
$-
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2018 2019 2020
Gran Colombia’s balance sheet continues to get stronger each quarter
Free Cash Flow and balance sheet strength facilitates the increased annual dividend with monthly payments commencing
as of the dividend declared for the November 30, 2020 Record Date.
(1) Aggregate principal amount of debt outstanding. Excludes Caldas
TSX: GCM | OTCQX: TPRFF Gold’s cash and debt.
January 2021 11Gold Notes
Exposure to Upside on Gold
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 December 31, 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
Amortization Schedule
November 2020 to April 2024
(Ounces to be Deposited to Gold Trust Account)
10,000
B+ (Outlook Stable)
5,000
-
2020 2021 2022 2023 2024
TSX: GCM | OTCQX: TPRFF
January 2021 12Why Colombia
A Great Mining Jurisdiction
$745
Annual GDP
(4thlargest in
(US$B)
Latin America)
Colombia is an OECD member Population 49.8 Million
country with a growing economy, and GDP Per Capita ($US) $14,943
one of the lowest inflation rates in
5-Year GDP CAGR (%) 2.8%
Latin America.
Inflation 3.2%
The latest Colombia Tax Reform Public Debt to GDP 50.5%
reduces the corporate income tax rate
8 countries
and repeals the 4% surcharge Free Trade
(including the US,
Agreements
imposed on corporate income, Canada, and EU)
Ease of Doing Business 3rd best in Latin America
Reducing the total tax rate from 37% Ranking (65th Globally out of 19)
in 2018 to 33% in 2019, and 32% for Investor 1st in Latin America (15th
Protection Ranking Globally out of 190)
2021, and 30% for 2022 and onwards.
Economic Freedom
45th Globally out of 180
Index Ranking
Investment Grade by
Credit Rating
Moody’s, Fitch, and S&P
TSX: GCM | OTCQX: TPRFF
January 2021 13Segovia Operations
Production Stage
License Boundaries for Segovia & Carla (100% Owned) Comparative Asset Milled Grade (1)
g/t
14.9 g/t
Q1-20 Segovia
Milled Grade
45
40
35
Amongst the Highest-Grade
30
Mines in the Gold Sector
25
20
15
10
5
0
Eagle River (Wesdome)
Fosterville (Kirkland)
Nevada Ops (Hecla)
Costerfield/Augusta
Seabee (SSR Mining)
Segovia (GCM)
Hope Bay (TMAC)
Island Gold (Alamos)
Bambanani (Harmony)
Macassa (Kirkland)
(Mandalay)
TSX: GCM | OTCQX: TPRFF
January 2021 (1) Source: Kitco commentaries 2020-11-27 14Segovia Operations
Historical Progression of Mineral Resource and Reserve Estimates
3
Reserves Other M&I Inferred
2.5
2 Total Inferred
1.26 Mozs
Mozs
1.5
1
Total M&I
1.36 Mozs
0.5
Drilling suspended
during period of low
gold prices
0
2010 2012 2013 2014 2015 2016 2017 2018 2019
M&I
Grade 13.1 12.1 15.2 12.0 11.4 11.8 11.7
(g/t)
From 2010 through 2019, Segovia has produced 1.1 Mozs at 13.7 g/t
TSX: GCM | OTCQX: TPRFF
January 2021 15Segovia Operations
Mineral Resource Estimate as of December 31, 2019
Measured Indicated Measured & Indicated Inferred
Tonne Au Tonne Au Tonne Au Tonne Au
Project Deposit Type Grade Grade Grade Grade
s Metal s Metal s Metal s Metal
(g/t) (g/t) (g/t) (g/t)
(kt) (koz) (kt) (koz) (kt) (koz) (kt) (koz)
LTR 118 15.9 60 296 13.0 124 414 13.8 184 315 8.3 84
Providencia
Pillars 108 26.1 90 116 12.1 45 224 18.8 135 389 20.0 249
LTR 385 10.3 128 385 10.3 128 315 8.6 87
Sandra K
Pillars 152 10.9 53 152 10.9 53
LTR 824 11.5 304 824 11.5 304 1,736 8.3 462
Segovia El Silencio
Pillars 1,459 10.7 504 1,459 10.7 504 395 12.1 154
Verticales LTR 771 7.1 176
Subtotal LTR 118 15.9 60 1,504 11.5 555 1,623 11.8 616 3,136 8.0 809
Segovia
Pillars 108 26.1 90 1,727 10.8 602 1,835 11.7 692 784 16.0 403
Project
Subtotal Carla
Carla LTR 154 9.7 48 154 9.7 48 178 9.3 53
Project
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%
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.
In the 2019 MRE update, Gran Colombia more than replaced what it mined in the year
TSX: GCM | OTCQX: TPRFF
January 2021 16Segovia Operations
Mineral Reserve Estimate as of December 31, 2019
Tonnes Grade Au Metal
Area Category
(kt) (g/t) (koz)
Proven 165 16.5 88
Providencia
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.
TSX: GCM | OTCQX: TPRFF
January 2021 17Segovia Operations
Regional Exploration Program Now In Process in Mining Title
Currently operating mines on only
3 of 27 known veins in the RPP-140
license.
Denotes existing operating
Company mines
Denotes regional exploration
target in process
TSX: GCM | OTCQX: TPRFF
January 2021 18Segovia 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
TSX: GCM | OTCQX: TPRFF
January 2021 19Segovia Operations
ESG is in Our DNA
Health Education Environment Community
Artisanal Miner Contract Model Benefits of Contract Mining
o Agreements with 50+ third party miner groups o Environmental benefits – GCM controls
who mine in designated areas within our title processing, reducing mercury use
o GCM pays for recovered gold at fixed price o Employment – expanded workforce
o Contractors manage miners & fund own costs o Improved health & safety
o GCM processes ore and sells the gold/silver o Workers receive health & pension benefits
o GCM provides health & safety training o Government receives tax & royalties
Improving Health & Safety Governance
o Our number one priority in our operations o ESG Committee of the Board provides
o Investment in training and awareness initiatives oversight
o Improved underground mine ventilation and o Corporate ESG Manager focused on
personal protective equipment, resulting in enhancing ESG reporting at investor level
major reductions in lost-time injuries
Funding Education & Community Programs
o In partnership with Fundacion Angelitos de Luz, GCM administers the local elementary school,
Gimnasio la Salada. In 2020, the school had ~500 students enrolled in kindergarten through to
grade seven
o Construction of high-school completed in 2020, which enrolled ~200 students in its first year
o In partnership with SENA, constructed the Agribusiness Mining Technology Center, which will
benefit more than 139,000 people in Northeast Antioquia
TSX: GCM | OTCQX: TPRFF
January 2021 20Benchmarking Gold Mines Emissions
Positioned Well Amongst ~200 Mines Globally
Reforestation
o Have exceeded environmental permit
requirements, planting approximately
12,000 new trees in 16 hectares of
GCM’s mining title
o Reforestation ratio of 5 new trees
planted for every tree removed
o Rehabilitated former tailings storage
sites using specific vegetation and water
GCM Mines
catchment design to create safe and
natural areas
Tailings
o El Chocho, GCM’s new tailings storage
facility that receives material from its
Maria Dama plant at its Segovia
Operations, opened in 2019
o New filter press allows compliance with
Source: Skarn Associates, Colombia Gold Symposium international best practices by dry
Renewable Energy stacking the material and re-circulating
o Signed an agreement to construct an 8 MW Renewable Energy Electricity Project clean water back to Maria Dama for re-
in Colombia that will start up in late 2021 and operate for 30 years using a solar use in plant operations
generation plant that will produce up to 21,500 MWh per annum o El Chocho will receive material for ~7
o A portion of GCM’s electricity requirements at its operations can be accessed more years, after which it will be
through the national grid and receive CO2 certificates, reducing the Company’s rehabilitated for community use
carbon footprint
TSX: GCM | OTCQX: TPRFF
January 2021 21Ongoing COVID-19 Relief
Protecting our Workforce and Supporting Communities
Increased Security &
Protection Protocols
Installation of Facial
Recognition Technology
Donations of: Employee Sanitization
Stations
Hospital Equipment
Protein Groceries
Sanitation Kits for First Responders
Face Masks, Sewn Locally, Contributing to
Economic Relief
TSX: GCM | OTCQX: TPRFF
January 2021 22Building 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)
• Aris Gold Transaction (page 25) brings funding and new leadership team
(1) As of December 31, 2020, Gran Colombia owns 53,435,989 common shares
of Caldas Gold. Refer also to Page 26 re Aris Gold Transaction.
(2) Refer to Caldas Gold press releases dated July 29, 2020 , August 26, 2020,
TSX: GCM | OTCQX: TPRFF
and September 29, 2020.
January 2021 23Building 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).
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).
Exploration drilling is continuing to upgrade and
expand the Deeps Zone mineralization.
TSX: GCM | OTCQX: TPRFF
January 2021 24Marmato Project
Life-of-Mine Plan (“PFS”) Results (1)
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)
200,000
150,000
100,000
50,000
-
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Gold Silver
(1) Source: Caldas Gold NI 43-101 Technical Report Pre-Feasibility Study
TSX: GCM | OTCQX: TPRFF Marmato Project Colombia dated August 17, 2020 prepared by SRK.
January 2021 25Aris Gold Transaction (1) BOARD OF DIRECTORS MANAGEMENT
Funding & New Leadership at CGC Ian Telfer Neil Woodyer
Chair, Independent CEO
CA$85M NON-BROKERED PRIVATE PLACEMENT David Garofalo Attie Roux
Independent Technical Consultant
37,777,778 UNITS AT CA$2.25
Peter Marrone Doug Bowlby, CFA
(each unit = 1 share + 1 warrant @ CA$2.75) Independent SVP, Corporate
GRAN COLOMBIA RETAINS ~45% EQUITY STAKE Neil Woodyer Andrew Gubbels
CEO, Independent
SVP, Corporate Development
~$38M OF PERSONAL PARTICIPATION FROM
Attie Roux Ashley Baker, LL.B
INCOMING LEADERSHIP GROUP Non-Independent
General Counsel & Secretary
MDZ EXPANSION FULLY FUNDED Daniela Cambone
Independent
Robert Eckford, CPA
VP, Finance & CFO
PROVEN TRACK RECORD OF BUILDING Serafino Iacono
SUCCESSFUL PRECIOUS METALS MINING Non-independent, GCM Nominee Richard Thomas, P.Eng.
COMPANIES Technical Consultant
Hernan Martinez
Independent; GCM Nominee
CHANGING NAME TO ARIS GOLD CORPORATION
“I am extremely excited to introduce a new leadership team STRATEGIC ADVISOR
and financing partners to Caldas Gold.” Serafino Iacono,
Chairman and CEO of Caldas Gold Frank Giustra
Mining financier, philanthropist
“…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 FOUNDERS, CHAIRS &
platform for us to build a major gold mining company.” Neil LEADERS OF THE WORLD’s
Woodyer, CEO of Aris Gold TOP MINING COMPANIES
“… 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
TSX: GCM | OTCQX: TPRFF
January 2021 (1) Refer to Caldas Gold press release dated November 23, 2020 26Why 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 TSX: GCM | OTCQX: TPRFF January 2021 27
For Further Information:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com
TSX: GCM | OTCQX: TPRFF
January 2021You can also read
