A Leading High Grade Underground Gold Producer Corporate - PowerPoint PPT Presentation

A Leading High ‐ Grade Underground Gold Producer Corporate Presentation February 2019 TSX: GCM OTCQX: TPRFF OTCQX: TPRFF TSX: GCM February 2019

DISCLAIMER Fo Forward ‐ Lo Looki oking St Statem emen ents 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 the Company and its projects, and, specifically, statements concerning anticipated growth in annual gold production, future cash costs and AISC, future G&A and capex, excess cash flow and future repayments of its gold ‐ linked notes. 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 27, 2018 and its interim MD&A dated as of November 13, 2018, both of which are 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. TSX: GCM OTCQX: TPRFF 2 February 2019

WHAT’S NEW? Gran Colombia 2.0 GRAN COLOMBIA 2.0  Gran Colombia is a mid ‐ tier gold miner with 218,000 ounces of gold production in 2018, up 25% over 2017.  Simplified our capital structure in 2018.  Eliminated dilution overhang of previous convertible debentures.  New Gold Notes and Warrants listed on the TSX in September 2018.  Common shares listed on the OTCQX in the USA in October 2018.  Strengthened balance sheet in 2018.  Debt down to $83.4M as of January 31, 2019. Debt/EBITDA of ~0.8X.  $33M of cash as of December 31, 2018, up from $3M at the end of 2017.  Future growth continues emphasis on high ‐ grade Segovia mines and the other 24 known veins we are not currently mining.  Blue sky potential with Marmato, Zancudo and Sandspring in the pipeline. “Focused on what we can control……Cash, Costs and Execution.” TSX: GCM OTCQX: TPRFF 3 February 2019

Surpassed 2018 Guidance MID-TIER GOLD MINER 2018 Gold Production Segovia Operations Marmato Project 218,000 ozs  High ‐ grade underground  Underground mine expansion mines opportunity We have produced more than 1 million ounces of gold since inception in 2010  89% of production  11% of production  2018: 193,000 ozs  2018: 25,000 ozs  Head grades averaged 17.1  Head grades averaged 2.7 g/t in g/t in 2018 2018  One of the Top 5 Highest  One of the Top 20 Undeveloped Grade Underground Mines Global Gold Deposits TSX: GCM OTCQX: TPRFF 4 February 2019

COLOMBIA A Great Mining Jurisdiction  Colombia is a country of opportunities with a growing economy, one of the lowest inflation rates in Latin America and free trade agreements with eight trading partners including the USA, European Union and more than 100 designated free-trade zones.  Colombia’s government is very supportive of foreign investment and it has the best investor protection in Latin America, 15th worldwide, according to the World Bank (2018).  Mining is a significant sector in the Colombian economy and one of the country’s largest export sectors.  Ranked #3 in Latin America for ease of doing business and #65 globally according to the World Bank ( Doing Business , 2018)  4 th largest economy in South America (GDP US$792 billion) (International Monetary Fund, 2018)  The latest Colombia Tax Reform reduces the corporate income tax rate and repeals the 4% surcharge imposed on corporate income, reducing the total tax rate from 37% in 2018 to 33% in 2019, 32% for 2020, 31% for 2021 and 30% for 2022 and onwards. TSX: GCM OTCQX: TPRFF 5 February 2019

THE RIGHT TEAM Management Directors Lombardo Paredes, CEO ‐ 20+ years of corporate Serafino Iacono, Executive Co ‐ Chairman – Company co ‐ leadership and operations management experience in the founder with 30+ years of experience in capital markets resource sector in Latin America and public companies Mike Davies, CFO – CPA,CA with 20+ years of international Miguel de la Campa, Executive Co ‐ Chairman – Company and public company experience in resource and other co ‐ founder with 30+ years of experience in financing and sectors developing mining and other resource projects Alessandro Cecchi, VP Exploration – Exploration geologist Jaime Perez Branger – Executive with 30+ years of with 20+ years of experience focused gold exploration and experience in finance and capital markets development in South America Robert Metcalfe – Lawyer and corporate director Jose Ignacio Noguera, VP Corporate Affairs – Lawyer with 20+ years of experience in public and government affairs Hernan Martinez – Former Colombian Minister of Mines and sustainability in the resource sector in Colombia and Energy Angel Mesa, General Manager, Segovia Operations – Mine engineer with 17+ years of experience in mining Monica De Greiff – Executive President of the Bogota operations in South America and Africa Chamber of Commerce and former Colombian Minister of Justice Inivaldo Diaz, Technical Manager, Segovia Operations – Civil mine engineer with 24+ years of experience in the De Lyle Bloomquist – Corporate director mining industry in South America Gabriel Gaviria, General Manager, Marmato Operations – Mine engineer with 39+ years of experience in mining operations in Colombia TSX: GCM OTCQX: TPRFF 6 February 2019

CAPITAL STRUCTURE Simplified Common Shares Warrants 48.2 million GCM.WT.A: 0.3 million @ CA$48.75 (2019 expiry) GCM.WT.B: 12.2 million @ CA$2.21 (2024 expiry) Market Capitalization Stock Options (as of February 5, 2019) 1.4 million @ CA$2.55 (2021 ‐ 2022 expiry) CA$188 million 1.2 million @ CA$3.16 (2023 expiry) Major Shareholders Fully Diluted = ~63 million common shares Common shares Founders/Management ‐ 5% | None > 10% Gold Notes Founders/Management ‐ 10% | No others > 10% Outperforming TSX Global Gold Index over last 12 months TSX: GCM OTCQX: TPRFF 7 February 2019

BALANCE SHEET Strengthened Working Capital Turned positive in 2018 US$33 million of cash at end of 2018, up US$30M from December 2017 $182M $83M 2,600 ozs in Gold Trust Account at end of 2018 for January January 2019 December 2015 2019 debt repayment Senior Secured Gold ‐ Linked Notes due 2024 Total Debt Issued April 30, 2018 TSX ‐ listed…GCM.NT.U US$83.4 million currently outstanding 2.1X 15.1X 8.25% coupon paid monthly TTM 2015 Quarterly principal repayments in cash with gold kicker above US$1,250/oz Adjusted EBITDA to Interest Less than 10% of Segovia’s projected future production is required to meet principal repayments 4.7X 0.9X TTM 2015 Upgraded to B (Outlook Stable) in October 2018 Debt to Adjusted EBITDA TTM = Latest 12 months ended September 2018. TSX: GCM OTCQX: TPRFF 8 February 2019

PROPERTIES Historic Mining Districts Zancudo Project Segovia Operations “Exploration Stage” “Core Producer” Ownership 100% Ownership 100% IAMGOLD entering 3 rd year of a 6 ‐ year Mineral Gold : earn ‐ in option agreement Resources (1) ‐ M&I 1,246 kozs 11.4 g/t ‐ Inferred 1,107 kozs 10.1 g/t Marmato Project Mineral Reserves Gold: (1,2) “Pursuing Underground Mine Expansion Opportunity” ‐ Proven 68 kozs 45.4 g/t ‐ Probable 592 kozs 11.4 g/t Ownership 100 % 2018 Gold Mineral 193,050 ozs Production Gold: Resources (1 ) 2018 Head ‐ M&I 3,872 kozs 2.9 g/t 17.1 g/t ‐ Inferred 4,194 kozs 2.5 g/t Grade 2018 Gold Cash 24,951 ozs Production US$618 Cost/oz (3 ) 2018 Head 2.7 g/t Grade Cash (1) As of December 31, 2017 US$1,138 (2) Included in Mineral Resources Cost/oz (3) (3) Nine months ended September 30, 2018 TSX: GCM OTCQX: TPRFF 9 February 2019

RESULTS Solid Turnaround Gold Production reaches 218,001 ozs in 2018 Adjusted EBITDA surpasses US100M in 2018 Segovia Marmato 14 15 16 17 18 14 15 16 17 TTM AISC reflects focus on controlling costs EV/Adjusted EBITDA (2019e) US$/oz 3.7X sold Capex and G&A Total Cash Cost $1,000 $89 9 $750 2.0X $500 $250 $ ‐ 2014 2015 2016 2017 TTM GCM Peers TSX: GCM OTCQX: TPRFF TTM = Trailing 12 ‐ months ended September 2018 10 February 2019