Lahontan Gold Corp. press release

Gran Colombia Gold announces the consolidation of its common shares and warrants

2013-06-14

TSXV - TSX Venture Exchange · Gold · Silver · Canada

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TORONTO, June 14, 2013/CNW/ - Gran ColombiaGold Corp. (TSX: GCM; TSX: GCM.WT; GCM.NT.U) is pleased to announce the approval of the proposed consolidation of its issued and outstanding Common Shares on a one-for-twenty-five basis. As a result of the consolidation, there will be 15,279,936 Common Shares issued and outstanding on a post-consolidated basis. The Company has also consolidated all of its issued and outstanding Warrants on the same basis.

The Company received TorontoStock Exchange approval for the consolidation of the Common Shares and Listed Warrants (TSX: GCM.WT) on June14, 2013, and commencing at the opening of trading on June 18, 2013, the Common Shares and Listed Warrants will trade on a post-consolidated basis on the TSX. The Company's name and trading symbols will remain unchanged. The following table summarizes the structure of the Company's Warrants following the consolidation:

| Warrants | Original Terms of Warrants | Post Warrant Consolidation (effective June 18, 2013) | | Listed Warrants expiring on August 24, 2015(TSX: GCM.WT) | Each warrant exercisable to purchase one Common Share at an exercise price of $2.60per Common Share. | Each warrant exercisable to purchase one post-consolidated Common Share at an exercise price of $65.00per share.

All entitlements to fractional consolidated warrants will be rounded down to the next whole number of consolidated warrants in accordance with the provisions of the applicable Warrant Indenture and no consideration will be paid in lieu of fractional Common Shares. | | Warrants expiring on October 31, 2017(issued in connection with the Gold-Linked Notes) | Each warrant is exercisable to purchase one Common Share at an exercise price of $0.75per Common Share. | Each warrant exercisable to purchase one post-consolidated Common Share at an exercise price of $18.75per share.

All entitlements to fractional consolidated warrants will be rounded up to the next whole number of consolidated warrants in accordance with the provisions of the applicable Offering Memorandum. | | Warrants expiring on June 18, 2013 | Each warrant exercisable at an exercise price of US$3.75, to acquire 0.4032 (being 0.336 of a share multiplied by 1.2) of a Common Share for each warrant held, 0.168 of a "Gran ColombiaConsideration Warrant" (which is a warrant entitling the holder thereof to purchase a Common Share at an exercise price of $2.60and expiring on August 24, 2015) for every warrant held, 0.0108 of an underlying warrant for every warrant held (where each whole warrant is exercisable to purchase 1.2 Common Shares and 0.5 Gran ColombiaConsideration Warrant for at an exercise price of $1.25), and a further 0.0054 of a Gran ColombiaConsideration Warrant for every warrant held. | Each warrant is exercisable to purchase one (1) Unit at a price of US$93.75, to acquire 0.016128 (0.4032/25) of a Common Share for each Goldfields Warrant held, 0.000672 (0.0168/25) of a "Gran ColombiaConsideration Warrant" (which is a warrant entitling the holder thereof to purchase 0.04 of a Common Share at an exercise price of $65.00and expiring on August 24, 2015) for every ColombiaWarrant held, 0.000432 (0.0108/25) of an underlying warrant for every Goldfields Warrant held (where each whole warrant is exercisable to purchase 0.048 (1.2/25) Common Shares for at an exercise price of $31.25(1.25x25)), and a further 0.000216 (0.0054/25) of a Gran ColombiaConsideration Warrant for every Goldfields Warrant held.

Fractional Goldfields Warrants shall be rounded up to the next whole number. Fractional Gran ColombiaConsideration Warrants or Common Shares shall not be issued or otherwise provided for. If any fraction of a Gran ColombiaConsideration Warrant or Common Share would otherwise be issuable, the number of Gran ColombiaConsideration Warrants or Common Shares so issued shall be rounded up to the nearest whole Gran ColombiaConsideration Warrant or Common Share, as applicable, in the event that the holder would be entitled to receive a fractional share or warrant representing 0.5 or more of a Gran ColombiaConsideration Warrant or Common Share, as applicable; conversely, the number of Gran ColombiaConsideration Warrants or Common Share so issued will be rounded down to the nearest whole Gran ColombiaConsideration Warrant or Common Share, as applicable, in the event that the holder would be entitled to receive a fractional share or warrant representing less than 0.5 of a Gran ColombiaConsideration Warrant or Common Share. |

About Gran ColombiaGold Corp.

Gran Colombiais a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombiais currently the largest underground gold and silver producer in Colombiawith several underground mines in operation at its Segovia and Marmato Operations. In addition, Gran Colombiais advancing a project to develop a large-scale, gold and silver mine at its Marmato operations.

Additional information on Gran ColombiaGold can be found on the Company's website at www.grancolombiagold.comand by reviewing the Company's page on SEDAR at www.sedar.com.

SOURCE: Gran Colombia Gold Corp.

Roy MacDonald Investor Relations (416) 360-4653

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