An anonymous director reports

GRAN COLOMBIA ANNOUNCES INTENTION TO MAKE A NORMAL COURSE ISSUER BID FOR ITS COMMON SHARES

Gran Colombia Gold Corp. has filed a notice of intention to commence a normal course issuer bid with the Toronto Stock Exchange for its common shares listed on the Toronto Stock Exchange. Under the terms of the bid, which is subject to acceptance by the TSX, the company will have the right to purchase for cancellation up to a maximum of 37,993,493 common shares through the facilities of the TSX. This amount represents approximately 10 per cent of the public float of the common shares issued and outstanding as of Sept. 23, 2011, determined in accordance with the applicable rules of the TSX. There were 389,686,757 common shares issued and outstanding as of Sept. 23, 2011. Management of the company will determine the actual number of common shares that may be purchased and the timing of any such purchases, subject to compliance with applicable TSX rules. Daily purchases will be limited to 188,842 common shares, other than block purchase exceptions. Purchases made pursuant to the bid will be made in the open market through the facilities of the TSX and the price that the company will pay for any such common shares will be the market price at the time of the acquisition.

The company is proposing to commence the bid on Sept. 30, 2011, and have it remain open until the earlier of Sept. 29, 2012, or the date on which the company has purchased the maximum number of common shares permitted under the bid. The company has not purchased any common shares during the previous year pursuant to any issuer bid.

The company intends to make the bid because it believes:

1. That the common shares may be undervalued from time to time in relation to its current and future business prospects;
2. That common shares may become available during the period of the bid at prices that would make the purchase of such common shares for cancellation an appropriate use of available funds and in the best interests of the company and its shareholders.

Ms. Belinda Labatte reports

GRAN COLOMBIA GOLD ANNOUNCES INTENTION TO MAKE A NORMAL COURSE ISSUER BID FOR ITS SENIOR UNSECURED SILVER-LINKED NOTES

Gran Colombia Gold Corp. has filed a notice of intention to commence a normal course issuer bid with the Toronto Stock Exchange for its senior unsecured silver-linked notes. Under the terms of the bid, which is subject to acceptance by the TSX, the company will have the right to purchase for cancellation up to a maximum of $7,672,500 (U.S.) total principal amount of notes through the facilities of the TSX. This amount represents approximately 10 per cent of the public float of the notes issued and outstanding as of Aug. 24, 2011, determined in accordance with the applicable rules of the TSX. There are $80-million (U.S.) total principal amount of notes issued and outstanding as of the date hereof. Management of the company will determine the actual number of notes that may be purchased and the timing of any such purchases, subject to compliance with applicable TSX rules. Daily purchases will be limited to $1,000 principal amount of notes, other than block purchase exceptions. Under the block purchase exception, the company may make one block purchase per calendar week to purchase a minimum of $50,000 (U.S.) principal amount of notes to a maximum of $7,672,500 (U.S.) once per week. Purchases made pursuant to the bid will be made in the open market through the facilities of the TSX and the price that the company will pay for any such notes will be the market price at the time of the acquisition. The company will not purchase notes when the market price per note exceeds $100 (U.S.).

The company is proposing to commence the bid on Aug. 29, 2011, and have it remain open until the earlier of Aug. 28, 2012, or the date on which the company has purchased the maximum number of notes permitted under the bid. The company has not purchased any notes during the previous year pursuant to any issuer bid.

The company intends to make the bid because it believes:

1. The notes may be undervalued from time to time in relation to its current and future business prospects;
2. Notes may become available during the period of the bid at prices that would make the purchase of such notes for cancellation an appropriate use of available funds and in the best interests of the company and its shareholders.

Glorieux