Silverco Mining Ltd. press release

Gran Colombia Gold Announces a Reduction to the Board of Directors

2013-07-23

TSXV - TSX Venture Exchange · Silver · Zinc · Lead · Gold · Canada

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TORONTO, July 22, 2013/CNW/ - Gran ColombiaGold Corp. (TSX: GCM) announced today that, in a continued effort to reduce the general and administrative expenses of the Company, Robert Doyle, Alfonso LopezCaballero, Augusto Lopez and Mario Pachecohave voluntarily resigned from the Board of Directors effective July 22, 2013.

Maria Consuelo Araujo, Chief Executive Officer of Gran ColombiaGold Corp., said, "On behalf of the Company, I would like to thank Messrs. Doyle, Lopez Caballero, Lopez and Pacheco for their dedicated service and many contributions to the Company. We wish them all the best in their future endeavours."

About Gran ColombiaGold

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._

_This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects and, specifically, statements concerning anticipated growth in annual gold production and reduction of cash costs. 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 Colombiato 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 26, 2013which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombiadisclaims, 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. _

SOURCE: Gran Colombia Gold Corp.

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